Calcutta High Court (Appellete Side)
Society & Ors vs Union Of India & Ors on 24 March, 2021
Author: Arijit Banerjee
Bench: Arijit Banerjee
BR/ 24.3.
Mithun
6 to26 2021
WPA 24110 of 2016
The Investors & Marketing Members' Welfare
Society & Ors.
-vs-
Union of India & Ors.
With
WPA 1202 of 2017
Amit De & Anr.
Vs.
State of West Bengal & Ors.
with
WPA 1215 of 2020
Chittaranjan Roy
Vs.
Directorate of Economic Offences Home & Hill Affairs
Department & Ors.
With
WPA 14592 of 2017
Gurupada Samanta
Vs.
Union of India & Ors.
With
WPA 1478 of 2017
Sussain Ali & Ors.
Vs.
State of West Bengal & Ors.
With
WPA 16081 of 2019
Diwakar Singh & Ors.
Vs.
Union of India & Ors.
With
WPA 16287 of 2019
Saktipada Bhattarcharjee
Vs.
The Government of West Bengal & Ors.
With
IA No: CAN 1 of 2019 ( Old No: CAN 10910 of 2019)
WPA 18549 of 2017
Kashinath Kundu & Anr.
Vs.
Union of India & Ors.
With
WPA 18551 of 2017
Gopal Chandra Khamari & Anr.
Vs.
Union of India & Ors.
With
WPA 18555 of 2017
Malay Kumar Giril & Anr.
2
Vs.
Union of India & Ors.
With
WPA 19683 of 2019
Ram Phal Singh & Ors.
Vs.
Union of India & Ors.
With
WPA 20325 of 2019
Zafaruddin & Ors.
Vs.
Union of India & Ors.
With
WPA 20328 of 2019
Kamlesh Yadav & Ors.
Vs.
Union of India & Ors.
With
WPA 2134 of 2017
Rita Sarkar & Ors.
Vs.
Union of India & Ors.
With
WPA 21911 of 2017
Birendra Nath Kayal
Vs.
Union of India & Ors.
With
WPA 2836 of 2017
Nimai Majhi & Ors.
Vs.
State of West Bengal & Ors.
With
WPA 30734 of 2017
Purnendu Das & Ors.
Vs.
Union of India & Ors.
With
WPA 3572 of 2018
Sagida Begam
Vs.
Union of India & Ors.
With
WPA 3899 of 2019
Satya Dev Jaiswal & Ors.
Vs.
Union of India & Ors.
With
WPA 3901 of 2019
Satya Dev Jaiswal & Ors.
Vs.
Union of India & Ors.
With
WPA 444 of 2019
3
Monoranjan Manna & Ors.
Vs.
Union of India & Ors.
.
In re: WPA 1215 of 2020 Chittaranjan Roy Vs. Directorate of Economic Offences Home & Hill Affairs Department & Ors.
.... Appellant Ms.Sabita Roy, ... for the U.O.I. in item No.6 Mr. Ramij Munsi, ...for the petitioner in item No.11,16,17,18,24 to 25.
.
Mr. Manas Dasgupta, Ms.Kabita Mukherjee, ...for the petitioners in WPA 1215 of 2020.
Ms.Pampa Dey (Dhabal), Ms. Sangita Banerjee, ...for the petitioner in item NO.7.
Mr.Y.J.Dastoor,Ld. A.S.G., Mr. Phiroze Edulji, ...for U.O.I./C.B.I. Mr.Amitesh Banerjee, Ld. Sr. Standing Counsel, Mr.Tulsi Das Roy, Mr. Tarak Karan, ...for the State Respondent in item Nos.6 to 26.
Mr.Kashinath Kundu, Mr. Ashok Prasad, ...for the U.O.I. Mr.Subhasis Chakraborty, Ms. Susmita Kumari Singh.
For the petitioners in item Nos.6, 13 to 15.
Mr. D.K.Kundu, 4 Mr. Arjun Basu, ...for the R.B.I in item No 14 & 15.
Mr.Prasanta Kumar Dutta, Mr. Susanta Kumar Dutta, Mr.Syamantak Banerjee, ...for the S.E.B.I. in item Nos.6 to 10,13 to 15, 19 to 22 & 24 to 25.
It appears that a criminal case was initiated against the Promoters, Directors and persons in control of the affairs of the Pincon Group of Companies for having accepted deposits for small time investors and not returning the same to such investors, with or without interest as they had promised. The case was instituted under the provisions of West Bengal Protection of Interest of Depositors in Financial Establishments Act, 2013 (in short WBPIDFE Act) as also under various provisions of the Indian Penal Code.
By an order dated December 3, 2015 passed in MAT No.559 of 2015, a Division Bench of this Court instituted a One Man Committee consisting of the former Judge of this Court to look into the allegations against the MPS Group of Companies. The Committee was given wide powers to identify, take possession of, sell the properties and assets of the MPS Group of Companies and return the deposits to the investors. Subsequently, by order of this Court, various other companies who had defalcated funds belonging to the members of the public were brought under the purview of the One Man Committee. The said Committee has been functioning since then. It has made substantial progress and several depositors in several companies have already received at least part of the money, they have invested.
It appears that in connection with the criminal case which was pending before the learned 3rd Additional District Judge, 3rd Court, Tamluk, District-Purba 5 Medinipur, the learned Judge took action in exercise of the power conferred by Section 15 of the WBPIDFE Act being Misc. Case No.1 of 2019. In this connection Section 15 of the Act may be noted:-
"15.Alteration of chit agreement- A chit agreement shall not be altered, added to or cancelled except with the consent in writing of the foreman and all the subscribers to the chit."
Diverse orders have been passed by the learned Judge in Misc. Case No.1 of 2019 for taking possession of and selling assets of the Pincon Group of Companies and also inviting claims from depositors. This order is under challenge in the present writ application. The writ petitioner says that the One Man Committee is undertaking as per direction of this Court, cannot also be undertaken by the learned Court below. This may not only the result in conflict of action but is otherwise also wholly unnecessary. When a One Man Committee comprising a former Judge of this Court, and empowered by this Court is looking into the matter, the learned Court below should stake hands.
We have heard learned Counsels for the writ petitioner, investors and State. There does not seem to be any dispute that the subject matter of Misc. Case No1 of 2019 pending before the learned Court below is the same as subject matter in respect of which the One Man Committee is taking action. It is also a matter of record that the Pincon Group of Companies has also brought under the purview of the One Man Committee and accordingly, the said Committee is taking requisite steps for liquidation of the property of the said companies for the purpose of returning the deposits of the investors.
Under those circumstances, prima facie, we are of the opinion that the learned Court below should stake its hands.
6There will be an interim order of stay of operation of the proceedings in Misc. Case No.1 of 2019 pending before the 3rd Additional District Judge, 3rd Court, Tamluk, District-Purba Medinipur until further order.
The particulars of the claim the learned Court below may have received from the depositors shall be communicated to the One Man Committee for verification by the Committee. For such purpose the Company shall fully cooperate with the Committee. The Committee shall invite further claims by putting up appropriate notice in the website and shall also verify such further claim with the Committee may receive.
Let appropriate submission on this aspect be made by the learned Counsel for the One Man Committee on the next occasion.
List the matter once again on April 21, 2021.
( Arijit Banerjee, J. ) (Jay Sengupta, J.)