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TMI Blog2021 (11) TMI 481X X X X Extracts X X X X X X X X Extracts X X X X ..... s of Applicant Company. 2. The Petitioner has filed the main petition against Rajeev Satpal Lakhanpal 85 Others/Respondents (not shown as Respondents in this IA) seeking following reliefs: (a) to direct Respondent No. 1, 5, 6, 8, 10 to deposit/refund Rs. 71,74,57,511.82 illegally siphoned/diverted from the Petitioner company/erstwhile firm and with reasonable interest and compensation. (b) to direct R-2, 3 & 4 to remove the debit freeze for the current and overdraft accounts of the petitioner company maintained with R-2. (C) to direct R-49 to take up investigation against Respondent No. 1,5,6,8,10, 14 in relation to the fraud and illegal siphonage of funds. (d) to direct R-47 & 48 to record the correct subscription wrongfully and d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Banks. The Applicant/Petitioner Company also alleged diversion of funds for purchase of properties by R-1 in the main petition. 4. The Applicant also alleged that the Respondent No. 1 Bank (Respondent No. 2 in the main petition) is evading the proceedings despite service of notices on 14.09.2021 and 22.09.2021. However, Respondent No. 1 Bank vide email dated 28.09.2021 has denied any relationship/dealings with Taashee Linux Services Ltd. Copy of email correspondence between the Applicant and R-1 Bank are annexed and marked as Exhibit M-3 (Colly). 5. The Applicant filed a memo dated 06.10.2021 stating that this Tribunal vide order dated 24.09.2021 had passed order for removal of debit freeze but Respondent Bank have not complied wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Respondent Banks herein to de-freeze the accounts forthwith. 10. However, the Learned Counsel for the proposed Respondents, while strongly opposing this application submitted that the accounts of the Applicant Company has been frozen pursuant to the complaint lodged by Respondent No. 1 & 5 in the main petition and until and unless the issues raised in their counter are resolved, the Applicant Company is not entitled for any reliefs in this application. 11. That apart, it is strongly contended by the Learned Counsel for the proposed respondents (ex-Directors) that disposal of the present IA in the absence of proposed respondents would not only be violative of principles of natural justice but also would cause serious loss and hardsh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... abling the Applicant Company to operate the same subject to condition that the Applicant Company shall draw the amounts that is actually necessary and required to pay the wages and salaries to its duly employed workers and staff and to manage the day to day operations of the Company. (a) Account No. 2500006520 with Indusind Bank and OD Account No. 650014082725. (b) Account No. 003772000007106 with HDFC Bank Ltd. (c) Account No. 37659803664 with SBI Bank (ii) The Applicant shall submit acquittance slips/statements of payments made and expenditure incurred to this Tribunal once in a month until further orders of the Tribunal. (iii) The rest of the reliefs sought for will be considered by the Tribunal in due course, after hearing bot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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