Calcutta High Court (Appellete Side)
Ham Sabhi Welfare Society & Ors vs Union Of India & Ors on 14 January, 2021
14.01.2021
item nos.
88 to 104
as/akd
WPA 11835 of 2015
with
CAN 1 of 2017 (Old No. CAN 5992 of 2017)
CAN 2 of 2018 (Old No. CAN 6745 of 2018)
CAN 3 of 2019 (Old No. CAN 9215 of 2019)
CAN 4 of 2019 (Old No. CAN 12619 of 2019)
Ham Sabhi Welfare Society & Ors.
-vs-
Union of India & Ors.
with
WPA 2347 of 2019
with
WPA 1433 of 2019
with
WPA 12578 of 2018
with
WPA 17085 of 2018
with
CAN 1 of 2019 (Old No. CAN 11522 of 2019)
CAN 2 of 2020
CAN 3 of 2020
with
WPA 17089 of 2018
with
WPA 18188 of 2016
with
WPA 2082 of 2017
with
WPA 21496 of 2018
CAN 1 of 2019 (Old No. CAN 4221 of 2019)
CAN 2 of 2019 (Old No. CAN 6258 of 2019)
with
WPA 22721 of 2016
with
WPA 24692 of 2017
with
WPA 25267 of 2017
with
WPA 29880 of 2015
with
WPA 30243 of 2015
with
CAN 1 of 2016 (Old No. CAN 3531 of 2016)
2
CAN 2 of 2017 (Old No. CAN 6051 of 2017)
with
WPA 10381 of 2015
with
WPA 31433 of 2017
with
WPA 1220 of 2018
Mr. Bikash Ranjan Bhattacharya, Senior Advocate,
Mr. Subhasis Chakraborty,
Mr. Arindam Das,
Ms. Rumeli Sarkar,
Mr. Amit Chowdhury,
Ms. Sushmita Singh
... ... for the petitioners.
Mr. Upendra Roy,
Mr. S. Nandy,
Mr. Tamal Singha Roy,
Mr. Subha Pathak.
.....for the petitioners in WPA 29880 of 2015,
WPA 12578 of 2018,
WPA 17085 of 2018,
WPA 17089 of 2018
CAN 11522 of 2019
Mr. Ashok Kumar Jena
...for the Prayag Group.
Mr. Prasanta Kr. Dutta,
Mr. Susanta Kr. Dutta,
Mr. Syamantak Banerjee
...for the SEBI.
Mr. D.K. Kundu,
Mr. Arjun Basu
... ... for the RBI in WPA 30243 of 2015.
Mr. Neguive Ahmed
... for the Committee
Mr. Amitesh Banerjee,
Mr. Tarak Karan,
Mr. Tulsidas Roy.
... ... for the State.
Mr. Y.J. Dastoor, Ld. ASG,
Mr. P. Edulji,
Mr. Nirmal Kumar Maity
...for the UOI.
Mr. M. S. Tiwari.
...for the Respondent No.1 in
W.P.A.21496 of 2018.
Md. Bani Israil, Ms. Kanchan Gupta.
3
.....for the intending purchaser in CAN 6745 of 2018.
Ms. Amita Gaur, Mr. Aditya Tiwari.
...for the Petitioner in CAN 2 of 2020 in WPA 17085 of 2018.
Mr. Jishnu Chowdhury, Mr. S. Mukherjee, Mr. D. Sen.
...for the applicant in CAN 9215 of 2019 Mr. Sovan Mukherjee.
...for the U.O.I. in WPA 2347/2019 & WPA 1433/2019.
In Re: CAN 3 of 2015 (Old CAN 9215 of 2019) in W.P.A.11835 of 2015 CAN 3 of 2015 (Old CAN 9215 of 2019) is an application taken out by one BMA Stainless Limited, now known as Captain Steel India Limited.
The prayer of the applicant is that a particular plot of land measuring about 2 acres at Mouza Debipur J.L.No.1, R. S. Plot No.70, R. S. Khatian No.318, Police Station -Kulti, District-Burdwan, belonging to the Company, be sold to the applicant at a price of Rs.77,71, 520/-.
With a similar prayer, the applicant had approached the Committee. The Committee by its order dated August 20, 2019, directed the applicant to approach this Court for appropriate directions.
We have considered the matter. We have nothing before us to show that the price offered by the applicant is 4 the best possible price that can be obtained by selling the property in question. In our considered view, keeping in view the object of the entire exercise, all the properties of the Company should be sold by public auction so that the best price is fetched.
Accordingly, the property which is the subject matter of the present application should also be sold by public auction, albeit by e-auction to be conducted by the Committee.
Needless to say that the applicant shall be at liberty to participate in such auction.
The base price of the property in question shall be the valuation of the land that will be determined by the Registrar of Assurances.
We request the Committee to expedite the process of the auction-sale of the property referred to above and if possible complete the process within the outer time period of six months from the date of a copy of this order being placed before the Committee.
CAN 3 of 2015 (Old CAN 9215 of 2019) is accordingly disposed of.
In Re: CAN 2 of 2018 (Old CAN 6745 of 2018) in W.P.A.11835 of 2015 CAN 2 of 2018 (Old CAN 6745 of 2018) is also a similar application and will be governed by the order passed today in CAN 3 of 2015 (Old CAN 9215 of 2019). In 5 other words, the property which is the subject matter of this application shall also be sold by public auction with the base price as determined by the concerned Registrar of Assurances.
Accordingly, CAN 2 of 2018 (Old CAN 6745 of 2018) is disposed of.
In Re: CAN 1 of 2019 (Old CAN 11522 of 2019), , CAN 2 of 2020 and CAN 3 of 2020.
in W.P.A.17085 of 2018.
CAN 1 of 2019 (Old CAN 11522 of 2019), CAN 2 of 2020 and CAN 3 of 2020 are three applications made by parties interested in purchasing three properties of the Company. The applicants have annexed the valuation reports to their applications.
We are not convinced by the same. As recorded in our order passed in CAN 3 of 2015 (Old CAN 9215 of 2019), all the properties of the Company shall be sold by public auction. Hence, the properties which are the subject matters of the aforesaid three applications will also be sold by public auction.
The applicants will be at liberty to participate in the auctions to be held by the Committee.
The base price of each property shall be as valued by the concerned Registrar of Assurances. The exercise may, if possible, be completed within a period of six months from the date of a copy of this order being placed before the Committee.
6
The State will render all assistance to the Committee in obtaining the valuation of the concerned properties.
Accordingly, the applications being, CAN 1 of 2019 (Old CAN 11522 of 2019), CAN 2 of 2020 and CAN 3 of 2020 are disposed of.
In Re: W.P.A.11835 of 2015 Mr. Chakraborty, learned Advocate appearing for the depositors submits that a huge sum of money running into several crores of rupees are lying in diverse bank accounts of the Company which have been frozen by the CBI. Such money should be transferred to the One Man Committee.
We find from records that a report dated March 26, 2019 was filed by the CBI recording its unequivocal 'no objection' to such transfer of funds to the One Man Committee.
We have also heard learned Additional Solicitor General on this account. He also submitted that an appropriate direction may be passed by this Court.
Accordingly, the Central Bureau of Investigation is directed to approach the concerned banks and do the needful so that the monies lying in such accounts are transferred directly by the banks to the One Man Committee.
7
This exercise should be completed within an outer time limit of eight weeks from date. We also record that the Company has no objection to such transfer of funds as submitted by the Company's Advocate Mr. Jena.
List these matters after eight weeks. (Jay Sengupta, J.) (Arijit Banerjee, J.)