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TMI Blog2020 (10) TMI 705X X X X Extracts X X X X X X X X Extracts X X X X ..... he educational expenses of his son from the amount that the Applicant is allowed to withdraw, nor has he any other resources for the purpose. The objection by the Respondent (UOI), that the Applicant is involved in the financial irregularity of the Gitanjali Gems Ltd and that is being invested by SFIO as well as the CBI would not be relevant for the prayers made in the present Application. The prayers made in the Application concerns the life and the career of young man who has nothing to do with the alleged wrongdoings of his father. The involvement or otherwise of the Applicant in the Company Petition would be taken into account during hearing of the Petition after considering all the relevant facts. The Applicant is permitted to with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In such Petition numbered as CP No. 277 of 2018 it sought various reliefs including orders of restraint against mortgaging and creating any encumbrance or disposing of any movable and immovable assets owned by them. It was alleged that the Respondents therein prima facie appeared to have been involved in financial fraud approximately to the tune of Rupees Eleven Thousand Four Hundred Crores, perpetrated by others including Mr. Nirav Modi (Respondent No. 11), on the Punjab National Bank (PNB). The Tribunal by an ex parte order dated 23.02.2018 inter alia restrained the Respondents (then before it) from removal, transfer or disposal of funds, assets and properties until further orders. The matter was then listed for appearance of the Responde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ht deletion of his name from the Company Petition. MA No. 1260 of 2019, however has not been heard. The embargo concerning dealing with the assets and the pecuniary expenses limits of ₹ 1,00,000/- has had adverse effect on the maintenance of his family. He thereupon filed MA No. 309/2019, seeking enhancement of withdrawal limit of ₹ 2.35 Lakhs. That Application is also pending consideration. Meanwhile, his son Manthan Sanjay Rambhia graduated in Commerce and is desirous of pursuing Post Graduation in Management. Accordingly, he filed the present Application seeking modification of the order dated 31.01.2019 and order dated 23.02.2018 and to permit him to periodically withdraw such amounts as would be required by the Institutes i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had a balance of ₹ 28,877.62/- 9. This Tribunal by an order dated 18.08.2020 directed the Applicant to furnish the intimation regarding the son s admission in any particular institute. The Applicant filed the admission intimation as well as an email dated 09.09.2019 from Welingkar Institute of Management Development Research at Matunga, Mumbai (herein after referred as the Institute of Management), asking the Applicant to deposit the first instalment (half yearly fees) and library deposit to the tune of ₹ 2,79,000/-. He also indicated that his partner in the firm has deposited ₹ 2,79,000/- to meet the same. As per the direction, he also filed the receipt dated 25.08.2020 from the Institute of Management, evidencing th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant to withdraw such amount which would be necessary for the educational expenses of his son Manthan at the Institute of Management referred to supra. Hence ordered. ORDER The Application be and the same is allowed on contest. The Applicant is permitted to withdraw such amount as would be necessary from the HDFC Account to defray the educational expenses of his son Manthan Sanjay Rambhia for pursuing the PGDM eBiz program in Welingkar Institute of Management Development Research, Matunga, Mumbai on his submitting the Institute s intimation or letter requiring him to deposit such amounts with the Institute according to the payment schedule of the Institute. Such withdrawal would be allowed by the Bench from time to time on a menti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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