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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 ..... st January 2019 read with the order dated 23rd February 2018 thereby permitting the Applicant to withdraw, from time to time, such amounts as may be required for the educational expenses of his son. 2. The Union of India in the Ministry of Corporate Affairs moved and filed an application inter alia under sections 221, 222 and 241 and 242 of the Companies Act 2013 (the Act) against Gitanjali Gems Ltd and others on allegations that the affairs of the Gitanjali Gems Ltd. and Companies, LLPs associated with it, were being conducted in a manner prejudicial to public interest. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant among others. 5. It is contended by the Applicant that he is a Practicing Chartered Accounted and is a partner in Chartered Accountancy Firm namely, M/s Sampat & Mehta. His family consists of his wife, two children (a daughter and a son) and an octogenarian father. Besides he has to look after other close relatives including his 78 years old mother-in-law. He filed MA No. 1260 of 2019, in April, 2019 for vacation of the order dated 31.01.2019 and the related order dated 23.02.2018 of this Tribunal and order dated 12.07.2018 of the Hon'ble NCLAT. He also sought 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20, directed the Applicant to furnish the account statements of all his bank accounts from 01.01.2019 till date. The Applicant furnished the details of his accounts maintained in the HDFC, Hughes Road Branch, Mumbai and HSBC, Andheri Branch, Mumbai as follows. i. Savings Account bearing No. 05671600000196 with the HDFC Bank (HDFC Account); and ii. Savings Account bearing No. 003-134665-006 with the HSBC Bank (HSBC Account). The HDFC Account had a closing balance of Rs. 14,76,788.06/- as on 10.08.2020 and the HSBC Account till that date had a balance of Rs. 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 f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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. Similarly, IA No. 1260 of 2020 would also be considered on its own merits independent of the present Application. We are accordingly inclined to permit the Applicant 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 co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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