9911796707
TMI Blog2018 (2) TMI 1771X X X X Extracts X X X X X X X X Extracts X X X X ..... ies/assets, including bank accounts, owned by them in India or anywhere in the world. (c) That the Respondents be restrained From mortgaging or creating charge or lien or third-party Interest or in any way alienating, the movable or immovable properties owned by them and further, direct attachment of the all said properties and hand them over to the Petitioner. Petitioner be allowed to execute such orders through the Indian Missions, stationed overseas, for the immoveable and moveable properties in existence abroad. (d) That the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and Securities and Exchange Board of India (SEBI) be directed to restrain the trading of securities of Respondent No. 1. (e) That the Respondent Nos. 2, 3, 7, 8, 9, 22 and 23 be restrained from mortgaging or creating charge or lien or third-party interest or in any way alienating the securities issued by the said Respondents. (f) That Central Depository Services Ltd. (CDSL) and National Securities Depository Ltd. (NSDL) be directed that securities owned/held by the respondents in any company be freezed and details thereof be shared with the Petitioner. (g) That the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ording to the Petitioner, committed mega fraud by conniving with some of the Officers of PNB routing money of a public sector Bank through issual of letter of undertakings to their benefit without making any entries in the trade finance module of the Banks, i.e. Core Banking Service (CBS) system to avoid detection. The Petitioner submits that the funds received under Buyer's credit from overseas banks were credited to Nostro Account of the Bank and subsequently utilized as per direction given by the conniving officer to repay Imports/earlier Buyer's credit used by the firms. For issuance of fraudulent LCs, the conniving officer, issued LCs by entering a small amount in trade module of Core Banking Service (CBS) system and generating the reference number and SWIFT messages were sent for the amounts. Subsequently, without making any change in Trade Finance Module of CBS system, the conniving officer sent modified SWIFT message for the same reference to the beneficiary bank for enhanced amount unauthorizedly. By sending modified SWIFT message with the reference given for smaller amount, this enhancement would not come to the notice of CBS system. By doing so, according to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sented by its Directors and unknown others during 2017-18 defrauded PNB to the tune of an aggregate amount of USD 754.92 Million (equivalent to Rs. 4886.72 Crores @ Rs. 64.00 per USD) in the matter of issuance of unauthorized and fraudulent Letters of Undertaking in favour of Foreign Branches of different Indian-based Banks and purported Foreign Letters of Credits (FLCs) in favour of foreign suppliers of the accused companies. The FIR dated 15/02/2018 states that the accused include the companies belonging to the Gitanjali Group promoted by Mr. Mehul Choksi (Respondent No. 14). A copy of the FIRs dated 31/01/2018 and 15/02/2018 as shown in Annexure P-2 (collectively) filed by the petitioner. 5. The Petitioner has given description of various companies to which money has gone through modus operandi described above, and from these companies, those monies being shown as gone to their Partners and Trusts maintained by Nirav Modi, this Petition as of now deserves orders to be passed u/s. 221 of the Companies Act, 2013 so as not to let the assets of any of these companies, other entities mentioned below, frittered away. The Petitioner has given details of the Companies, LLPs, Trusts, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ;- A Jaffe INC., USA - Nipur BVBA - Islington International Holdings PTE Ltd. Some of the properties movable including immovable properties details available with us:-Firestar International Ltd.:- A. Movable: First pari-passu charge by way of hypothecation of stocks lying at factory premises as well as outside on job-order basis, Receivables and other current assets (present and future of the Company) and receivable with other consortium banks. B. Immovable: (Mortgaged to the Consortium on pari - passu basis) Exclusive Security with the PNB: Firesatr diamond International Pvt. Ltd. (FDIPL):- A. Movable; Fist pari-passu charge by way of hypothecation of stocks lying at factory premises as well as outside on job-order basis, Receivables and other current assets (present and future of Company) and receivable with other consortium banks, B. Immovable: (Mortgaged to the Consortium on pari-passu basis) Factory/Works address; Firestar Diamond International Private Limited 1. Surat: - Plot No. 18, 19, 20 & 67, SEZ, Sachin, Surat - 394221 2. Kurla - Unit No.23 & 24, Tower II, Wing B, K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... above. Since the Petitioner having said that the funds of the Bank have been routed through the companies and LLPs to the Trusts and individuals as well, investigation against other entities being incidental to the investigation ordered against the companies and LLPs, the whole exercise of Investigation and passing orders by this Bench will become futile unless restraint order Is passed against these individuals and Trusts thereof. 7. If any further particulars come into existence, the Petitioner is directed to file additional affidavit supporting the case mentioned in this Company Petition. It goes without saying that the rigmarole of CPC not being applicable and this order being an aid to make investigation effective, though many of them against whom orders passed are not made as parties, this Bench has passed this order as an aid to investigation. 8. The Petitioner has candidly said that if notice has been given to the parties prior to hearing then there is every possibility of consuming time for effecting service in view of the exigency involved in this case, the Petitioner in view of the public interest has sought for ex-parte orders, for this Bench having noticed that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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