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TMI Blog2021 (4) TMI 994X X X X Extracts X X X X X X X X Extracts X X X X ..... ported fraud is already underway. This is clear from the letter of Assistant Commission of Police (I), Economic Offence Wing, Detective Department; Kolkata Police dated 05.02.2021, addressed to the Applicant herein that apprises the Applicant of the progress made in the FIR filed by the Applicant. Since, the investigation is already under progress and has reached the advanced stage where arrests have also been made; it would not be appropriate to issue direction upon the CBI to investigate the matter - This Tribunal can exercise its powers only as envisaged under the Companies Act, 2013. The said Act does not confer the power upon this Tribunal to direct the CBI to investigate a case. This Tribunal, therefore, cannot direct the CBI to in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8377; 1,50,74,975/- in respect of M/s. West Bengal Tea Development Corporation Limited. b. Respondent may be directed to refund the money along with interest. 2. The Official Liquidator submitted as follows: a. West Bengal Tea Development Corporation Limited, the Corporate Debtor, had been directed to be wound up in terms of section 271 and 272 of the Companies Act, 2013 vide order of this Tribunal dated 14.11.2019, and Mr. N. Krishnamurthy was appointed as the liquidator. b. The liquidator took possession of the registered office of the Corporate Debtor, its assets and books of record. The Corporate Debtor had no immovable properties, however, it had an account with Central Bank of India from where the liquidator realised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raud Section, Detective Department, Kolkata for investigating the issuing of fake TDRs. g. Since the transactions involve nationalised bank and money involved is very huge, it requires to be investigated by the Central Agency. The liquidator, therefore, requested this Tribunal to direct the Central Bureau of Investigation (CBI) to investigate the fraud of ₹ 1,50,74,975/- (Rupees one crore fifty lakh seventy-four thousand nine hundred and seventy-five only). h. The Official Liquidator relied on the decision of the Hon'ble Supreme Court in State Bank of India (Successor to the Imperial Bank of India) v. Smt. Shyama Devi (1978) 3 Supreme Court Cases 399, and that of the Hon'ble Gujarat High Court in Bank of Baroda ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his instruction. e. In order to buttress his submissions, the learned Counsel relied on the decisions of the Hon'ble Supreme Court in Bir Singh v. Mukesh Kumar (2019) 4 Supreme Court Cases 197, paras 33 and 34, and Hardeep Singh v. State of Punjab and Others (2014) 3 Supreme Court Cases 92, paras 59 and 67. 4. We have heard the learned Counsel appearing for both the sides and perused the records. 5. It is the Applicant's case that he had issued a cheque bearing No. 086991 drawn on Punjab National Bank dated 12.02.2020 along with a covering letter with instruction to open four fixed deposit accounts with the Respondents. The Respondent had provided the Applicant with the detail of TDR accounts opened. However upon coming ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case is under progress. 9. Since, the investigation is already under progress and has reached the advanced stage where arrests have also been made; in our opinion, it would not be appropriate to issue direction upon the CBI to investigate the matter. 10. Moreover, our hands are tied when it comes to issuance of direction upon the CBI to investigate a case. This Tribunal can exercise its powers only as envisaged under the Companies Act, 2013. The said Act does not confer the power upon this Tribunal to direct the CBI to investigate a case. This Tribunal, therefore, cannot direct the CBI to investigate the case. 11. Further, the present application has been filed under section 290(n) of the Companies Act, 2013. That section empo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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