Indian Kanoon - Search engine for Indian Law

18,20,21, 22 & 25.

Mr. Debasish Roy, Mr. M. Mukherjee ... for the respondents no.

23 & 24.

Mr. Kausik Chanda, Ld. ASG, Ms. Sumitra Das ...for CBI.

Mr. Amitesh Banerjee, Mr. Tarak Karan, Mr. Tulsidas Roy ...for the State.

In Re: W.P.24110(W) of 2016.

Liberty is granted to make Pincon Spirit Ltd. as a party respondent in course of the day in W.P. 24110(W) of 2016.

Such amendment be carried out in course of the day.

Learned senior counsel appearing for the respondent nos. 18, 20, 21, 22 including respondent nos. 23 & 24 being the Managing Director and Director of M/s. Pincon Group Ltd. dispenses with service of notice upon the added respondents.

Learned counsel appearing for the State respondents including the added respondents propose that the bottled liquor as well as the strong spirit in tanks which were seized by DEO may be disposed of and the sale proceeds be utilized for payment to the depositors in terms of directions given by this Court.

Learned counsel appearing for the State submits that the bottled liquor as well as strong spirit in tanks may be disposed of and the value thereof would be remitted to the One Man Committee.

Learned counsels appearing on behalf of the State, SEBI as well as learned senior counsel appearing on behalf of the CBI & UOI do not have any objection provided the monies are utilised for repayment of the depositors in terms of directions given by this Court.

Under such circumstances, we direct the Excise Commissioner to take necessary steps for sale of the bottled liquors and to make reallotment of the consignment of strong spirit in tanks which were seized by the Directorate of Economic Offences from the various factories of the added respondents, namely, Pincon Spirit Ltd. and the value thereof be remitted to the One Man Committee who shall keep the said sum in an interest bearing short term fixed deposit account in a nationalized bank until further orders.