Supreme Court - Daily Orders
Subrata Bhattacharya vs Securities And Exchange Board Of India on 12 December, 2024
Bench: Bela M. Trivedi, Pankaj Mithal
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ITEM NO.302 COURT NO.11 SECTION XVII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Civil Appeal No(s). 13301/2015
SUBRATA BHATTACHARYA Appellant(s)
VERSUS
SECURITIES AND EXCHANGE BOARD OF INDIA & ORS. Respondent(s)
(IA No. 48174/2023 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 273285/2024 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 136045/2021 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 121435/2020 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 1648/2023 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 105681/2019 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 189718/2022 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 77018/2019 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 211011/2024 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 33482/2022 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 150831/2023 - APPROPRIATE ORDERS/DIRECTIONS
IA No. 128401/2018 - CLARIFICATION/DIRECTION
IA No. 162187/2021 - CLARIFICATION/DIRECTION
IA No. 132788/2023 - CLARIFICATION/DIRECTION
IA No. 136048/2021 - EXEMPTION FROM FILING AFFIDAVIT
IA No. 25114/2023 - INTERVENTION/IMPLEADMENT
IA No. 273280/2024 - INTERVENTION/IMPLEADMENT
IA No. 226268/2024 - INTERVENTION/IMPLEADMENT
IA No. 211360/2024 - INTERVENTION/IMPLEADMENT
IA No. 189670/2022 - INTERVENTION/IMPLEADMENT
IA No. 141601/2021 - PERMISSION TO FILE ADDITIONAL
DOCUMENTS/FACTS/ANNEXURES
IA No. 81691/2023 - RECALLING THE COURTS ORDER)
WITH
C.A. No. 13394/2015 (XVII)
(IA No. 149875/2024 – CLARIFICATION/DIRECTION)
T.C.(Crl.) No. 2/2016 (II-C)
(IA No. 223675/2024 - EXEMPTION FROM FILING O.T.
I A No. 223674/2024 - GRANT OF BAIL)
I.A. No. 134972/2022-GRANT OF BAIL)
Date : 12-12-2024 These matters were called on for hearing today.
Signature Not Verified
Digitally signed by
NITIN TALREJA
Date: 2024.12.13
CORAM :
18:29:41 IST
Reason:
HON'BLE MS. JUSTICE BELA M. TRIVEDI
HON'BLE MR. JUSTICE PANKAJ MITHAL
For Parties Mr. Anup Kumar, AOR
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Mr. Ayush Sharma, AOR
Mr. Siddharth Aggarwal, Sr. Adv.
Mr. Nimish Chib, Adv.
Mr. Wajeeh Shafiq, AOR
Mr. Ritesh Agrawal, AOR
Mrs. Rachana Joshi Issar, AOR
Mr. Prashant Bhushan, AOR
Mr. Somiran Sharma, AOR
Mr. Aditya Singh, AOR
Mr. Gagan Gupta, AOR
Mr. Vinay Navare, Sr. Adv.
Mr. Aviral Kashyap, AOR
Mr. Mukesh Kumar Maroria, AOR
Mr. Sanjay Kumar Tyagi, Adv.
Mr. Vinod Sharma, AOR
Ms. Kamakshi S. Mehlwal, AOR
Mr. Sanveer Mehlwal, Adv.
Mr. Raj Bahadur Yadav, AOR
Mr. Rajiv Ranjan Dwivedi, AOR
Mr. Vishal, Adv.
Mr. Shantanu Kumar, AOR
M/S. K J John And Co, AOR
Mr. Pratap Venugopal, Sr. Adv.
Ms. Hetu Arora Sethi, AOR
Mr. Darpan K M, Adv.
Ms. Shalu Sharma, AOR
Ms. Farhat Jahan Rehmani, AOR
Ms. Vidushi Garg , AOR
Mr. Sujit Kumar Mishra , AOR
Mr. Somanatha Padhan, AOR
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Mr. Arun K. Sinha, AOR
Mr. Shivendra Singh, AOR
Ms. Rooh-e-hina Dua, AOR
Mr. Abhinav Agrawal, AOR
Mr. A. Lakshminarayanan, AOR
Mr. Senthil Elangovan, Adv.
Mr. Kunal Verma, AOR
Mr. C.R.jaya Sukin, Adv.
Mr. Narender Kumar Verma, AOR
Ms. Asmita Singh, AOR
Mr. Parveen Kumar, AOR
Ms. Garima Jain , AOR
Mr. Md. Shahid Anwar, AOR
Mr. Joel, AOR
Mr. Piyush Dwivedi, AOR
Ms. Urvashi Raj Soni, Adv.
Mr. Gp. Capt. Karan Singh Bhati, AOR
Mr. Ankit Goel, AOR
Mrs. Gargi Khanna, AOR
Mr. Arvind Kumar Sharma, AOR
Mr. D. Mahesh Babu, AOR
Mr. Aditya Ranjan, AOR
Mr. Gagan Narang, Adv.
Mr. Beno Bencigar, Adv.
Mr. Parijat Kishore, AOR
Mr. Gagan Gupta, AOR
Mrs. Shubhangi Tuli, AOR
Mr. Tushar Bakshi, AOR
Mr. Shashibhushan P. Adgaonkar, AOR
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Mr. Pai Amit, AOR
Mr. Abhay Pratap Singh, AOR
Mr. Ajay Pal, AOR
Ms. Pragati Neekhra, AOR
Mr. Shiva Krishnamurti, Adv.
Mr. Balaji Srinivasan, AOR
M/S. V. Maheshwari & Co., AOR
Mr. Shree Pal Singh, AOR
Mr. K.sita Rama Rao, Adv.
Ms. Amrita Kumari, AOR
Mr. P. S. Sudheer, AOR
Mr. Arjun Garg, AOR
Mr. Ravi Kumar Tomar, AOR
Mr. Jose Abraham, AOR
Ms. Pallavi Pratap, AOR
Mr. B Ragunath, Adv.
Mr. Vijay Kumar, AOR
Mr. Mukesh Kumar Maroria, AOR
Mr. Sanjay Kumar Tyagi, Adv.
Mr. Avadh Bihari Kaushik, AOR
Mr. Bhavik Lalan, Adv.
Mr. Surjendu Sankar Das, AOR
Mr. Ronak Karanpuria, AOR
Mr. D. K. Devesh, AOR
Mr. C.r.jaya Sukin, Adv.
Mr. Narender Kumar Verma, AOR
Mr. Rishi Matoliya, AOR
Mr. Nikhil Kumar Singh, Adv.
Mr. Mayil Samy.k, Adv.
Mr. P. Soma Sundaram, AOR
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Mr. C. Solomon, AOR
Ms. Ameyavikrama Thanvi, AOR
Ms. Christi Jain, AOR
Mr. Vikas Singh Jangra, AOR
Mr. Swetank Shantanu, AOR
Mr. Pratap Shanker, Adv.
Mr. P. V. Dinesh, Sr. Adv.
Ms. Anne Mathew, AOR
Mr. Jayant Mohan, AOR
Mr. Vivek Jain, AOR
Ms. Tatini Basu, AOR
Mr. Kumar Shashank, Adv.
Mr. Ashish Yadav, AOR
M/S. Vimalpani & Co., AOR
Mr. Vikash Singh, AOR
Mr. Prakash Kumar Singh, AOR
Ms. Garima Bajaj, AOR
Mr. Ajay Kumar Singh, AOR
Mr. Dr. Rajeev Sharma, AOR
Mr. Prashant Sharma, Adv.
Mr. S. Gowthaman, AOR
Mr. Vijender Kasana, Adv.
Mr. Anshuman Srivastava, AOR
Mr. Rishabh Singhle, Adv.
Mr. Sujoy Chatterjee, AOR
Mr. Ramandeep Singh, Adv.
Ms. Tina Garg, AOR
Mr. Shubham Bhalla, AOR
Mr. K Parmeshwaran, Sr. Adv.
Mr. Rajendra D. Anbhule, AOR
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Ms. Anuradha Mutatkar, AOR
Mr. Ashok Mathur, AOR
Mr. Nitin Mishra, AOR
Ms. Mitali Gupta, Adv.
M/S. Ksn & Co., AOR
Mr. V Balachandran, Adv.
Mr. Kumar Mihir, AOR
Mr. T. Mahipal, AOR
Krishnamohan K., AOR
Ms. Dania Nayyar, Adv.
Mr. Srisatya Mohanty, AOR
Mr. Abhijit Pattanaik, Adv.
Samir Malik, AOR
Mr. Shubhranshu Padhi, AOR
Mr. Jay Nirupam, Adv.
Ms. Pratibha Jain, AOR
Ms. Manju Jetley, AOR
Mr. S D Dwarakanath, Adv.
Mr. Upendra Pratap Singh, AOR
Mr. Rameshwar Prasad Goyal, AOR
Mr. Tungesh, AOR
Mr. Kaushik Poddar, AOR
Mr. Yatin M. Jagtap, Adv.
Mr. Sunil Kumar Sharma, AOR
Mr. Shadan Farasat, Sr. Adv.
Ms. Nupur Kumar, AOR
M/S. Dharmaprabhas Law Associates, AOR
Mr. Sanket Shankarappa Ambali, Adv.
Mr. Guntur Pramod Kumar, AOR
Mr. Dhruv Yadav, Adv.
Mr. Abhishek Singh, AOR
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Mr. Dhananjay Baijal, AOR
Mr. Merusagar Samantaray, AOR
Mr. Harikesh Singh, Adv.
Mr. Satish Kumar, AOR
Mr. M. A. Chinnasamy, AOR
Mrs. C Rubavathi, Adv.
Mr. Rakesh K. Sharma, AOR
Mr. Jaya Sukin, Adv.
Mr. Shashank Singh, AOR
Mrs. Vibha Datta Makhija, Sr. Adv.
Mr. Anil Kumar, AOR
Mr. Mohit Paul, AOR
Mr. P. N. Puri, AOR
Ms. Mohini Priya, AOR
Ms. Manisha Ambwani, AOR
Mr. Abhinav S. Raghuvanshi, AOR
Mr. Y. Arunagiri, Adv.
Mr. Raghunatha Sethupathy B, AOR
Mr. Umesh Babu Chaurasia, Adv. *
Mr. Satish Pandey, AOR
Mr. Ashish Yadav, AOR
Mr. S. Nagamuthu, Sr. Adv.
Mr. M.P. Parthiban, AOR
Mr. Gagan Gupta, Sr. Adv.
Mr. Aayushmaan Vatsyayana, AOR
Mr. Ritesh Agrawal, AOR
Mr. Gopal Jha, AOR
Mr. Kedar Nath Tripathy, AOR
Mr. Neeraj Shekhar, AOR
Mrs. Kshama Sharma, Adv.
Mr. Kush Chaturvedi, AOR
Ms. Prerna Priyadarshini, Adv.
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Mr. T. Sundar Ramanathan, AOR
Mr. Sunny Choudhary, AOR
Mr. Sujit Kumar Mishra , AOR
Ms. Shisba Chawla, AOR
Mr. Jaya C. Sukin, Adv.
Mr. Puneet Singh Bindra, AOR
Ms. Priya Aristotle, AOR
Mr. Mohit D. Ram, AOR
Mr. Sandeep Bajaj, Adv.
Mr. Soayib Qureshi, AOR
Ms. Usha Nandini V., AOR
Ms. Ranjeeta Rohatgi, AOR
Mrs. Geetha Kovilan, AOR
Mr. M. Yogesh Kanna, AOR
Mr. Rajiv Kumar Sinha, AOR
Mr. Gunjan Kumar, AOR
Ms. Anuradha Arputham, AOR
Mr. Ankit Sharma, Adv.
Mr. Ajay Pal, AOR
Mr. Anjani Kumar Mishra, AOR
Mr. Yadav Narender Singh, AOR
M/S. Vachher And Agrud, AOR
Mr. Surya Kant, AOR
Mr. Debojit Borkakati, AOR
Mr. Anshuman Srivastava, AOR
Mr. R. Ayyam Perumal, AOR
Mr. A. Renganath, Adv.
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Ms. S. Ramamani, AOR
Mr. Anil Nag, AOR
Ms. Sonam Gupta, AOR
Ms. Jasmine Damkewala, AOR
Ms. Vaishali Sharma, Adv.
Mr. Rajesh Tyagi, Adv.
Mr. Atishi Dipankar, AOR
Mr. Arunava Mukherjee, AOR
Mr. Gaurav Goel, AOR
Ms. Anisha Upadhyay, AOR
Mr. Shakti Kanta Pattanaik, AOR
Mr. Subhro Sanyal, AOR
Mr. C. K. Sasi, AOR
Ms. Meena K Poulose, Adv.
Mr. M.p. Srivignesh, Adv.
Mr. Manu Srinath, AOR
Mr. Ankit Yadav, AOR
Ms. Shaoni Das, Adv.
Mr. Tarun Gupta, AOR
Mr. Rajeev Kumar Bansal, AOR
Mr. Avijit Mani Tripathi, AOR
Ms. Preeti Sehrawat, Adv.
Ms. Madhusmita Bora, AOR
Mr. Pawan Kishore Singh, Adv.
Mr. Raj Kishor Choudhary, AOR
Mr. Shakeel Ahmed, Adv.
Mr. Syed Jafar Alam, AOR
Ms. Varuna Bhanrale, Adv.
Mr. Ishaan George, AOR
Mr. T. R. B. Sivakumar, AOR
Mr. Deva Vrat Anand, Adv.
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UPON hearing the counsel the Court made the following
O R D E R
I. I.A. Nos. 150831/2023, 136045/2021, 105681/2019, 136048/2021, 211360/2024, 211011/2024 IN CIVIL APPEAL NO. 13301 OF 2015 WITH I.A No. 149875/2024 IN CIVIL APPEAL NO. 13394 OF 2015
1. Pursuant to the order passed by this Court on 17.10.2024, Justice (Retd.) R.M.Lodha Committee (herein referred to as ‘Lodha Committee’) has appointed Chartered Accountants for the verification of the compliance affidavits filed on behalf of Associations at Mohali and Bhatinda. The timeline for submitting their audit report was by 06.12.2024.
2. However, on 10.12.2024, SEBI has filed an affidavit on behalf of the Auditors at both the locations, seeking extension of time for carrying out the directions passed by this Court in its Order dated 17.10.2024.
3. In view of the said affidavit(s), the learned senior counsel, Mr. Pratap Venugopal, appearing for SEBI seeks extension of six weeks for submitting the Audit Report 11 to the Lodha Committee pertaining to the Associations at Mohali and Bhatinda
4. In view of the same, time to submit the Audit Report is extended for a period of six weeks from today, as prayed for.
5. The learned senior counsel states that the Auditors shall also scrutinize the documents of the Members of the respective Associations as also of the individuals, who may not be the Members of the said Associations.
6. List the matters on 06.02.2025.
CIVIL APPEAL NO. 13301 OF 2015 II. APPLICATIONS FILED BY THE SEBI:
I.A.No. 33482 of 2022
1. This application has been filed by the applicant-
SEBI seeking appropriate directions.
2. In view of the reasons stated in the application, let notice be issued to the repsondent-CBI, returnable on 06.02.2025.
I.A. No. 77018/2019
1. This application has been filed by the applicant- SEBI seeking this Court to pass an order, to stay further proceedings in (IB)-1402(PB)/2018, which is pending before the National Company Law Tribunal, Principal Bench, New Delhi.
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2. It is sought to be submitted by the learned senior counsel, Mr. Pratap Venugopal, appearing for the applicant-SEBI that respondent no.1-Sandeep Mehta, was the Director of the Pearls Infrastructure Private Limited (PIPL), and was also the associate company of the PACL.
3. No one is present for the respondents, when the matter is called out.
4. Since, this Court, vide the Order dated 08.07.2019, has already passed the order of staying the further proceedings in (IB)- 1402(PB)/2018, which are pending before the NCLT, Principal Bench, New Delhi, and in consequence, all further proceedings arising out of the order dated 31 January 2019 are also stayed, we continue the same and do not propose to pass any further orders.
5. This application is disposed of accordingly. I.A. No. 48174/2023
This application has been filed by the applicant- SEBI seeking appropriate directions to be issued by this Court to the concerned Authorities (respondent nos. 1 to
13) to submit their report on the action taken on the issues referred to the Lodha Committee.
Learned senior counsel, Mr. Pratap Venugopal, appearing for the applicant-SEBI, after arguing for sometime, seeks permission to withdraw the present application with a view to approach the concerned authority/ Lodha Committee, as may be permissible under 13 the law.
Permission to withdraw the present application, as sought for, is granted.
Accordingly, the application is disposed of as withdrawn.
I.A. No. 121435/2023
Learned senior counsel, Mr. Pratap Venugopal, appearing for the applicant-SEBI, seeks permission to withdraw the present application with a view to approach the Lodha Committee, as may be permissible under the law.
Permission to withdraw the present application, as sought for, is granted.
Accordingly, this application is disposed of as withdrawn.
I.A. No. 1648/2023
Learned senior counsel, Mr. Pratap Venugopal, appearing for the applicant-SEBI, seeks permission to withdraw the present application as the same has become infructuous.
The said statement is taken on record. In view of the above, permission to withdraw the present application, as sought for, is granted.
Accordingly, this application is disposed of as withdrawn.
14I.A. No. 128401/2023
Learned senior counsel, Mr. Pratap Venugopal, appearing for the applicant-SEBI, seeks permission to withdraw the present application with a view to approach the Lodha Committee, as may be permissible under the law.
In view of the above, permission to withdraw the present application, as sought for, is granted.
Accordingly, this application is disposed of as withdrawn.
I.A. No. 162187/2021
Learned senior counsel, Mr. Pratap Venugopal, appearing for the applicant-SEBI, seeks permission to withdraw the present application with a view to approach the Lodha Committee/ concerned Authority, as may be permissible under the law.
In view of the above, permission to withdraw the present application, as sought for, is granted.
Accordingly, this application is disposed of as withdrawn.
15III.MISCELLANEOUS APPLICATIONS IN C.A.NO. 13301/2015 I.A. Nos. 189718/2022, 132788/2023 and 189670/2022 We are not inclined to entertain these applications at this stage, however, the applicants-Himlaksh Tradelink Pvt. Ltd and others, shall be at liberty to approach the Lodha Committee, as may be permissible under the law.
These applications are disposed of accordingly. I.A. No. 25114/2023 List this application on 06.02.2025 I.A. Nos. 273285/2024 and 273280/2024 We are not inclined to entertain these applications at this stage, however, the applicant-Privue Builders Pvt. Ltd., shall be at liberty to approach the Lodha Committee, as may be permissible under the law.
These applications are disposed of accordingly. I.A. No. 226268/2024 We are not inclined to entertain these applications at this stage, however, the applicants-Mr. Hansaji Ishwarji Prajapati & Others, shall be at liberty to approach the Lodha Committee, as may be permissible under the law.
The application is disposed of accordingly. 16 I.A. No. 81691/2023 We are not inclined to entertain this application, at this stage, however, the applicant, shall be at liberty to approach the Lodha Committee, as may be permissible under the law with regard to the prayer contained in application being I.A. No. 158788 of 2021, which is filed by the applicant-Anil Kumar.
The application is disposed of accordingly. IV. T.C.(Crl.) No. 2/2016 IA No. 223674/2024 This application has been filed by the applicant- Sukhdev Singh, Managing Director of the PACL, seeking interim bail in all the FIRs. Registered against him throughout the country.
Pursuant to the order dated 28.11.2024, passed by this Court, the learned senior counsel, Mr. Siddharth Aggarwal, appearing for the applicant-Sukhdev Singh, has furnished the details with regard to the F.I.Rs filed against the applicant in the form of an affidavit from which, it transpires that the applicant has not been granted bail in the cases listed at Serial Nos. 26,31,34,42,43,51 to 54 of the chart contained in the said affidavit. The said chart also shows that the applicant has been convicted for the offences in the 17 cases at Serial Nos. 19,20 and 21, and has already undergone the sentence 07 years, as imposed upon him.
In our opinion, the said chart/ affidavit does not give correct picture as to how the applicant could be said to have undergone the sentence of 07 years as there is no information with regard to when the applicant, in each of these cases, was arrested and when was his order of conviction passed.
The learned senior counsel, Mr. Siddharth Aggarwal, seeks time to place on record a better affidavit in that regard.
FURTHER ORDER List all the matters on 06.02.2025 before the same combination of Bench at 02:00 P.M. (NISHA KHULBEY) (VIRENDER SINGH) SENIOR PERSONAL ASSISTANT ASSISTANT REGISTRAR