Calcutta High Court (Appellete Side)
Tandra Mukherjee & Ors vs S.E.B.I & Ors on 29 November, 2017
Author: Aniruddha Bose
Bench: Aniruddha Bose
1 11.2017 Ct.24 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 94 of 2017 CAN 8103 of 2017 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. Kamalesh Bhattacharya ...for the applicant 2 in C.A.N.10025 of 2017 Mr. Hirak Kr. Mitra, Sr. Advocate Mr. Prasanta Kumar Dutt, Mr. Susanta Kumar Dutt, Mr. Syamantak Banerjee ...for the S.E.B.I Mr. Neguive Ahmed ...for the Committee In Re: C.A.N.10025 of 2017 The instant application has been taken out by one Sujit Kumar Roy with prayer for a declaration that a three storied building with covered area bearing premises no.1538, Garia Station Road, Berhans P.O. Garia, P.S. Sonarpur in the district of 24 Parganas (S) is not part of the assets of Tower Infotech Limited.
At the time of hearing however, Mr. Bhattacharya appearing for the said applicant submits that 3/4th portion of the said building stands conveyed to Tower Infotech Limited and rest 1/4th portion had been let out to the said Company. His client's complaint is that the said company is not paying rent. Applicant has prayed for addition of party in W.P.16534 (W) of 2013. This writ petition relates to dispute over non payment of depositors' money and the dispute raised by the applicant in C.A.N.10025 of 2017 is over tenancy, recovery of rent and occupation charges. We do not think the applicant has sufficient interest to be added as a party to this writ petition. 3
We accordingly dismiss this application with leave to the applicant to approach appropriate legal forum for the substantive reliefs prayed for in this application.
No order as to costs.
In Re: C.A.N.8270 of 2017 One Subrata Das has taken out this application, also in connection with W.P.16534 (W) of 2013 seeking approval of this Court in respect of his offer for purchasing the property described in paragraph-3 of the application for a consideration of Rs.64,03,000/-.
This valuation is not opposed or objected to by SEBI. Mr. Ahmed's submission on behalf of the Committee is that the Committee accepted to offer on the basis of valuation made by the registration authorities of the State of Assam, where the property is situated. Mr. Biswas, learned counsel for the applicant has apprised us that the offer is for a price much higher than the valuation of the same property made by the State of Assam.
We find no reason to reject the recommendation of the Committee as intimated to us by Mr. Ahmed. We approve proposed purchase of the properties specified at paragraph 3 at the rate offered by the applicant. The applicant has made the offer along with another individual, Pranay Kumar Nath. The deed of conveyance in that regard shall be executed under supervision of the Committee and sale price shall be deposited with the Registrar, Original Side of this Court.
We direct the Registrar, Original Side to execute the sale deed for and on 4 behalf of the Tower Infotech Limited to which arrangement Mr. Sanyal has no objection.
The sale price shall be deposited within seven days and thereafter, the conveyance shall be executed within a period not later than 10 days from the date of deposit of sale price.
The Registrar, Original Side shall for the time being deposit the said amount in an interest bearing account of a nationalised bank.
The application being C.A.N.8270 of 2017 is thus disposed of. Let these matters be listed on 4th December, 2017.
(Aniruddha Bose, J.) (Joymalya Bagchi, J.) 5