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TMI Blog2020 (8) TMI 654X X X X Extracts X X X X X X X X Extracts X X X X ..... ts Mrs. Asha Kiran wife of Shri Ramesh.C.Bawa and Mrs. Aakanksha Bawa daughter of Shri Ramesh C.Bawa have filed separate Company Appeal (AT) No. 249-250/2019 and 251-252/2019 respectively against the impugned order dated 26.04.2019 and 04.09.2019 passed by NCLT, Mumbai Bench in M.A No.1576/2019, M.A No. 2007/2019 & M.A No.1577/2019 and M.A No.2006/2019 in C.P No.3638/2018 respectively. Since impugned orders are common, hence the order is passed as a common order. 2. The Appellants have sought relief for passing an order setting aside the impugned order dated 26.04.2019 & 04.09.2019 passed by NCLT, Mumbai Bench as also to give direction to the Banks to de-seal the accounts of the Appellants etc. 3. As far as Company Appeal (AT) No.249-250 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd has filed a complaint in the court of competent jurisdiction at Mumbai but no charge sheet has been issued to the Appellant. The Appellant has submitted that the person liable under Section 339 of the Companies Act, 2013 are the following persons : a. Director of the company b. Manager of the Company c. Officer of the Company d. Any other person who knowingly becomes a party to carrying of the business in the manner aforesaid- in a manner prejudicial to public interest- for any fraudulent purpose 5. The Appellant is a 3rd party to the proceedings and cannot be subjected to an order under Section 241-242, 337 and 339 of the Companies Act, 2013. 6. While in the Company Appeal (AT) No.251-252 /2019 Miss. Aakanksha Bawa D/o of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p Companies. It has also been submitted that the exposure in the IL&FS group is very large both to the public and private sector banks and financial institutions and this will have a catastrophic impact on the economy of the country. It was also stated that based on the report of the Registrar of Companies, Union of India has filed a Petition under Section 241-242 of the Companies Act, 2013 before NCLT Mumbai Bench bearing Company Petition No. 3638 of 2018; the charges are on Mr. Ramesh .C.Bawa that he has drawn hefty salaries and siphoned funds. 8. It was also submitted by Director that on the basis of SFIO Report and requisite application vide order dated 03.12.2018, the NCLT restrained the erstwhile Directors inter alia including Mr. Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. The fact of the two cases are different Ms.Usha Ananthasubramanian was the former MD and CEO of Punjab National Bank for a limited period 2015 to 2017 whereas she was not related party to Directors of M/s.Gitanjali Geems ltd., and the charges on her was "omitted to take precaution or preventive steps to prevent the fraud perpetrated by Mr. Neerav Modi"; whereas in the present case either the money has been transferred by Mr. Ramesh.C.Bawa, or noncompliance of NCLT order has happened. Impleading a party does not mean that charges are proved on them but their presence would enable the court to effectively and adequately adjudicate the matter involved in the case. Hence both appeals are dismissed. No order as to costs. X X X X Extracts X X X X X X X X Extracts X X X X
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