Calcutta High Court (Appellete Side)
Jaltarang Vanijya Pvt. Ltd vs Union Of India & Ors on 15 February, 2018
Author: Debi Prosad Dey
Bench: Debi Prosad Dey
1 15.02.18
C.R.R 70 of 2018 In the matter of: Jaltarang Vanijya Pvt. Ltd.
Vs. Union of India & Ors.
Mr. Kapil Sibal Mr. Sandipan Ganguly Mr. Goutam Mitra Mr. Debajyoti Dutta Mr. R. Malhotra Mr. Somopriyo Chowdhury ...For the petitioner.
Record is put up today for order. This is an application under 482 of the Code of Criminal Procedure for setting aside the order dated December, 8, 2017 passed by FPA-PMLA-2063/DLI/2017 and in the matter of order bearing reference F. No. ECIR/03/DZ-I/2017/ from the Directorate of Enforcement, Delhi Zonal Office to Axis Bank(Depository Participant), Oriental bank of Commerce(Depository Participant), Vardhaman Capital Private Limited (Depository Participant) and MCS Share Transfer Agent Limited thereby directing them not to allow disposal of the shares of M/s. Balasore Alloys Limited held/owned by, inter alia, the petitioner company.
2Learned senior Counsel Mr. Kapil Sibal contended that in view of settlement between the companies mentioned in the petition there was no scope for application of PMLA Act and the authority concerned erroneously attached the entire properties of the company by order dated 30,2017 bearing reference F. No. ECIR/03/DZ-I/2017. Learned senior Counsel Mr. Sibal also took the Court through the various pages of the petition in order to support his contention that the properties of the instant company are not liable to be attached.
Having considered the submission of learned Advocate for the petitioner and after going through the materials on record I am of considered view the matter may be disposed of in contested form. The petitioner is thus directed to serve copies of the application along with annexures thereof upon the opposite party by speed post with acknowledgment due within two weeks from date. List the matter under heading adjourn motion on 16th March, 2018.
Urgent photostat copy of this order be supplied to the parties, if applied for, upon compliance with all requisite formalities.
(Debi Prosad Dey, J.)