Calcutta High Court (Appellete Side)
Tandra Mukherjee & Ors vs S.E.B.I & Ors on 8 November, 2017
Author: Aniruddha Bose
Bench: Aniruddha Bose
1 17 W. P. No. 5437(W) of 2014 Tandra Mukherjee & ors.
Vs. S.E.B.I & Ors.
With W.P. No.16534 (W) of 2013 Tower Infotech Ltd. & Anr.
Vs. Union of India & ors.
With CAN 8270 of 2017 CAN 7746 of 2016 CAN 8655 of 2017 CAN 10025 of 2017 CAN 10159 of 2017 with W.P. No.18229 (W) of 2014 Amal Kr. Nandy & ors.
Vs. S.E.B.I. & ors.
Mr. Subir Sanyal ...for the petitioners in W.P.16534 (W)/13 Mr. Tapan Mukherjee, ld. A.G.P. Mr. Amitesh Banerjee, ld. Sr. Counsel Mr. Rabindra Narayan Dutta, Mr. Hare Krishna Halder, Mr. Tulshi Das Ray, Mr. Moloy Roy ...for the State Mr. Kaushik Chanda, Ld. A.S.G. Mr. Arpa Chakraborty ...for the U.O.I. in W.P.18229 (W)/14 Mr. P. S. Biswas ...for the U.O.I. in W.P.5437 (W) of 2014 Mr. Ratul Biswas, Mr. Kaushik Chowdhury for the applicant in C.A.N.8270/17 Mr. Sahasrangshu Bhattacharjee, Mr. Suchindram Bhattacharjee ...for the applicant 2 in C.A.N.10159 of 2017 Mr. Prasanta Kumar Dutt, Mr. Susanta Kumar Dutt, Mr. Syamantak Banerjee For the S.E.B.I In our order of 30th August, 2017 we had observed that premises no.8A and 8A/1, Ananda Palit Road, Entally, Kolkata-700014 may be sold at the price already offered.
Today the applicant in C.A.N.10159 of 2017 submits that it is he who is the owner of the premises no.8A/1 and not any of the companies in respect of whom the proceedings for recovery of illegally raised money are pending. We shall hear out the application (C.A.N.10159 of 2017). Until further order, the part of our order passed on 30th August, 2017 so far the same relates to 8A/1, Ananda Palit Road shall remain stayed.
There is also prayer by Mr. Sanyal for reducing the reserve price for other premises, being 8A, Ananda Palit Road. We had stipulated the reserve price as per SEBI's valuation. We direct SEBI to examine the present valuation of the said premises.
Supplementary affidavit has been filed by Subrata Das, an intending purchaser of a two storied residential building located at Silchar, District- Cachar in the State of Assam. Particulars of the building have been given in page 6 of the supplementary affidavit. The same affidavit also discloses valuation thereof on the basis of computation made by the State authorities. 3
Let the Committee proceed with the process of selling this property situated at Silchar upon consulting SEBI as regards reserve price. The Committee shall also take into account the valuation disclosed in the supplementary affidavit. This exercise concerning the property in Silchar may be completed within a period of six weeks.
In Re: C.A.N.7746 of 2017 Learned counsel appearing for SEBI prays for leave to withdraw the application registered as C.A.N.7746 of 2017 on the ground that the same contains certain mistakes and a fresh application upon elimination of such mistakes has been filed. We accordingly dismiss C.A.N.7746 of 2017 as not pressed.
As regards SEBI's application, being C.A.N.8655 of 2017, let State file an affidavit giving their response to this affidavit. Other interested parties to these proceeding shall also be at liberty to file affidavits in response to this application.
For this reason we adjourn further hearing of this proceeding till 15th November, 2017.
(Aniruddha Bose, J.) (Joymalya Bagchi, J.) 4