Supreme Court - Daily Orders
Subrata Bhattacharya vs Securities And Exchange Board Of India on 4 August, 2017
Bench: Adarsh Kumar Goel, S. Abdul Nazeer
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ITEM NO.6 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 Respondent(s)
WITH
W.P.(C) No. 500/2015 (X)
C.A. No. 13319/2015 (XVII)
C.A. No. 13394/2015 (XVII)
C.A. No. 13410/2015 (XVII)
T.C.(C) No. 134/2015 (XVI -A)
W.P.(C) No. 640/2016 (X)
W.P.(C) No. 613/2016 (X)
T.C.(C) No. 31/2016 (XVI -A)
T.C.(Crl.) No. 1/2016 (XVI -A)
T.C.(Crl.) No. 2/2016 (XVI -A)
T.C.(Crl.) No. 3/2016 (XVI -A)
T.C.(C) No. 30/2016 (XVI -A)
(APPLICATIONS FOR APPROPRIATE ORDERS/DIRECTIONS, PERMISSION
TO FILE APPLICATION FOR DIRECTION, EXEMPTION FROM FILING
C/C OF THE IMPUGNED JUDGMENT AND EX-PARTE STAY, EXEMPTION
FROM FILING ENGLISH TRANSLATION, IMPLEADMENT, INTERVENTION,
PERMISSION TO FILE ADDITIONAL DOCUMENTS, STAY AND PERMSSION
TO BRING ADDITIONAL FACTS AND DOCUMENTS ON RECORD)
Date : 04-08-2017 These matters were called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE ADARSH KUMAR GOEL
HON'BLE MR. JUSTICE S. ABDUL NAZEER
For Appellant(s) Mr. Mohan Parasaran, Sr. Adv.
Mr. Hrishikesh Baruah, Adv.
Mr. D. Chidanand, Adv.
Mr. Kshitij Paliwal, Adv.
Signature Not Verified
Mr. Siddhant Kaushik, Adv.
Digitally signed by
MAHABIR SINGH
Date: 2017.08.04
16:29:21 IST
Reason: Mr. Ashutosh Dubey, Adv.
Mr. Dhiraj, Adv.
Mr. Abhishek Chauhan, Adv.
Mr. Satish Vig, AOR
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Mr. Rajesh P., AOR
Mr. Amit Pawan, AOR
Mr. Ankur Saigal, Adv.
Mr. E. C. Agrawala, AOR
For Respondent(s)
Intervener(s) Mr. Maninder Singh, ASG.
Mr. R. Balasubramanium, Adv.
Ms. Ranjana Narayan, Adv.
Mr. Mukesh Kumar Maroria, AOR
Ms. Prerna Kumari, Adv.
Mr. Prabhas Bajaj, Adv.
Mr. Akshay Amritanshu, Adv.
Mrs. Anil Katiyar, AOR
(SEBI) Mr. Arvind P. Datar, Sr. Adv.
Mr. Pratap Venugopal, Adv.
Ms. Surekha Raman, Adv.
Mr. Anuj Sarma, Adv.
Ms. Niharika, Adv.
Ms. Kanika Kalaiyarasan, Adv.
for M/s. K J John And Co.
Mr. P.S. Patwalia, Sr. Adv.
Mr. Amit Kumar, AOR
Mr. Shaurya Sahay, Adv.
Mr. D.K. Singal, Adv.
Mr. Dhruv Mehta, Sr. Adv.
Mr. P. S. Sudheer, AOR
Mr. Rishi Maheshwari, Adv.
Ms. Mayuri Nayyar Chawla, Adv.
Ms. Bharat Sood, Adv.
Ms. Shruti Jose, Adv.
Ms. Subhoshree Sil, Adv.
Ms. Neela Gokhale, Adv.
Mr. Gaurav Kumar, Adv.
Ms. Kamakshi S. Mehlwal, AOR
Mr. Vikas Mahajan, Adv.
Mr. Vinod Sharma, AOR
Mr. S.S. Rai, Adv.
Mr. Aviral Kashyap, AOR
Mr. Suren Uppal, Adv.
Mr. Amit Kumar Singh, Adv.
Mr. Prashant Bhushan, AOR
Mr. Omanakuttan K.K., Adv.
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MR. Anjani Kumar Mishra, AOR
Mr. Shiv Kumar Tiwari, Adv.
Mr. Prateek Kohli, Adv.
Mr. Gagan Gupta, AOR
Mr. Shantanu Kumar, AOR
Mr. Rajiv Ranjan Dwivedi, AOR
M/s. BJ Law Offices, AOR
Mr. Sudarshan Singh Rawat, AOR
Mr. Prakash Kumar Singh, AOR
Ms. Anuradha Mutatkar, AOR
UPON hearing the counsel the Court made the following
O R D E R
We have heard learned counsel for the parties. As suggested by the Committee appointed by this Court, we issue following directions:
(1) PACL Ltd. to furnish information detail of which is set out in para 4.4.7 of the Report dated 11th April, 2017 and is available on the SEBI website.
(2) PACL Ltd. to furnish details of properties that are still owned by PACL directly or indirectly.
(3) PACL Ltd. to recover and deposit the following receivables within 45 days with the Committee :
(a) Inter-corporate loan and advances given to group or other corporate body or individual.
(b) Money advanced to Commission agents/brokers with whom admittedly at least sum of Rs.2800 crores belonging to PACL is lying.4
(c) Consideration amount against the sale of the properties, sold after February 2017. (4) PACL not to hinder or obstruct or in any manner delay the process of sale of its immovable properties by the committee as well as to render effective assistance and to cooperate with the Committee.
The above information be furnished to the Committee within two weeks from today. The sale certificate in respect of the property sold may be issued by the Committee.
TDS may be deducted by the Committee and credited to a separate account of PACL Ltd. towards TDS. Proposal for bulk purchase of immovable properties, set out in para 14 of the Report, may be considered by the Committee in accordance with law.
The Committee will have authority to pass such directions as are necessary to effectuate its mandate under the order of this Court.
To see further progress in the matter, list again on Tuesday, the 10th October, 2017.
(MAHABIR SINGH) (PARVEEN KUMARI PASRICHA) COURT MASTER COURT MASTER