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TMI Blog2019 (11) TMI 1695X X X X Extracts X X X X X X X X Extracts X X X X ..... gating Officer, CBI is to be intimated of the proceedings at every stage as undertaken by the RP, the participation of both the brothers Mr. Amit Bhatnagar and Mr. Sumit Bhatnagar as may be required under the law shall continue at the end of the RP. The application is allowed. - CRIMINAL MISC.APPLICATION (MODIFICATION OF ORDER) NO. 1 of 2019 In R/CRIMINAL MISC.APPLICATION NO. 8435 of 2019 - - - Dated:- 13-11-2019 - HONOURABLE MS JUSTICE SONIA GOKANI MR.PARTH CONTRACTOR for the PETITIONER(s) No. MR RC KODEKAR for the RESPONDENT(s) No. MR VIRAT G POPAT for the RESPONDENT(s) No. MS MAITHILI MEHTA, ADDL. PUBLIC PROSECUTOR for the RESPONDENT(s) No. IA ORDER 1. Leave to amend is permitted in paragraph no. 10(B). Let the application number be corrected. 2. This is an application preferred with the following prayers:- (1) This Hon'ble Court may be pleased to allow the present Application. (2) This Hon'ble Court may be pleased to suitably modify the Order dated June 18, 2019 passed by this Hon'ble Court in R/Criminal Misc. Application No. 8435 of 2019 in respect of the properties of owned by DPIL by deleting the properties enlisted i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c Prosecutor Mr. R.C.Kodekar and learned advocate Mr. Popat appearing for corporate debtor are not present. They shall need to be heard. 5. Matter be kept on 13.11.2019. 4. Today, the Court has heard learned advocate Mr. Satendra Rai with Ms. Sanskruti Shukla for and on behalf of learned advocate Mr. Parth Contractor for the petitioner, learned Special Public Prosecutor Mr.R.C.Kodekar for the respondent CBI, learned advocate Mr. Virat Popat for respondent no.1 and learned Additional Public Prosecutor Ms.Maithili Mehta for the respondent State. 5. This Court in an earlier round of application by the Resolution Professional (RP), passed a detailed order on 18.10.2019, where the reference of both the brothers Mr. Amit Suresh Bhatnagar and Mr. Sumit Suresh Bhatnagar is made at more than one places. The detailed order passed is as follows:- Rule. Learned APP waives service of rule for the respondent- State. 1. This application is filed by the applicant, namely Mr. Bhuvan Madan, Resolution Professional ( RP , herein after), appointed by the National Company Law Tribunal, Ahmedabad (in brief, NCLT ) vide order dated 23.10.2018 to conduct Corporate Insolvency Resoluti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rties, held by DPIL and the entities of Mr. Amit Suresh Bhatnagar and Mr. Sumit Suresh Bhatnagar, the properties enlisted in Paragraph-14 of the order of this Court are those, in respect of which, the appellate Tribunal has passed an order under PMLA on 18.06.2019, whereby, the attachment of the properties owned by DPIL has been quashed. 3. The applicant is, therefore, before this Court, seeking following reliefs: 14. i. This Hon ble Court may be pleased to allow the present application. ii. This Hon ble Court may be pleased to suitably modify the Order dated June 18,2019 passed in Criminal Misc. Application No. 8438 of 2019 by deleting the properties enlisted in paragraph 8 of this Application and may be further pleased to clarify that the properties owned by DPIL are not covered within the ambit of the said Order dated June 18, 2019. iii. ... 4. This Court issued notice on 13.09.2019 and learned Special P.P., Mr. Kodekar, appeared for the CBI, learned APP, Mr. Pujari, for the State and learned Advocate, Mr. Popat, appeared for both the erstwhile directors. 5. Along the line of this application, learned Advocate, Mr. Satyendra Rai, appearing with learned A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned APP also has been heard for the State. 8. Having, thus, heard both the sides, at the outset, the request made by the learned Special PP, Mr. Kodekar, of hearing ED is concerned, which has attached the properties, would require consideration. 8.1 The RP is before this Court, seeking modification of the order passed by this Court, while releasing the accused on regular bail. So far as the attachment of the properties by ED, by way of a separate order, is concerned, the same is challenged by the RP by way of a separate proceeding. It is noticed that to the order dated 18.06.2019, passed the Dy. Director of the ED, Ahmedabad, who is the respondent, the challenge has been made to action of the ED in relation to the properties, which had been mortgaged. The Tribunal has, after the detailed discussion, held that ED has registered ECI on the basis of the provisional attachment, after moratorium order was passed by the NCLT, by holding that ED and the adjudicating authority did not understand the legal issue involved and ignored the settled law and passed the impugned order. A curious situation, therefore, has been created, whereby, the Bank, which is the complainant, has become v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d, which reads as follows:- [F1] For the purpose of attending any meeting, as may be scheduled by the Resolution Professionals (RP) on intimation to the Investigating Officer and on receiving the official communication from the Resolution Professionals (RP), the applicant shall be permitted to attend the same. The Investigating Officer shall be at liberty to depute one of his officers of his confidence at the time of such meeting. 7. The confusion with regard to the attendance of both brothers in the Committee of Creditors' meeting / proceedings as may be scheduled by RP, in wake of this additional condition [F1] should not continue. 8. It is being clarified by learned Special Public Prosecutor Mr. Kodekar on instructions received from the Investigating Officer of the CBI present before this Court that there is no objection with regard to both these brothers attending the Committee of Creditors' meeting / proceedings as may be scheduled by the RP in relation to the proceedings which have been undertaken before the NCLT in the Insolvency Application being C.P.(I.B.) No.137/NCLT/AHM/2018. 9. The application is allowed. It is being clarified that in wake of condi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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