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TMI Blog2020 (8) TMI 938X X X X Extracts X X X X X X X X Extracts X X X X ..... e Department till the next date of hearing. - Hon'ble Mr. Justice Yogesh Khanna For the Petitioner : Mr. Sandeep Sethi, Sr. Advocate with Ms. Ranjana Roy Gawai, Ms. Vasudha Sen, Mr. Ujjwal Jain, Ms. Prachi Golecha, Mr. Chaitanya Mathur, Mr. Avinash Bhati, and Mr. Avinash Bhati, Advocates. For the Respondents : Ms. Sunieta Ojha, CGSC for R1/UOI., Mr. Amit Mahajan, CGSC for respondents No.2 3/ED. ORDER 1. The hearing has been conducted through Video Conferencing. Crl.M.A.No.11824/2020 2. Exemption allowed, subject to all just exceptions. 3. The application stands disposed of. W.P.(CRL) 1342/2020 Crl.M.A.No.11823/2020 4. This writ petition has been filed by the petitioner with following ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ous plan(s) for revival of the company and/or realisation of assets and one of such plans was approved by the Committee of Creditors on 16.10.2018 and also by the NCLT on 05.09.2019. However, in the meanwhile, CBI registered a case against erstwhile promoters of the above company for the offences committed by them between the years 2007-2014. It is pertinent to mention various loans were advanced to the above company which were siphoned off to other companies of the accused. 7. It is submitted the respondents filed a complaint under the PMLA on the basis of the statements and documents supplied by the petitioner himself to the respondents and he was made a witness in such complaint. The allegations were the promoters had diverted the sto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lf of the respondents. Learned counsel for UOI submits that she is not inclined to file any reply at this stage, however, she secures her right to file reply at an appropriate stage. The learned counsel appearing on behalf of the Department seeks time to file reply to all allegations raised by the petitioner. 11. The learned senior counsel for petitioner has also referred to various provisions of the IBC viz. Sec. 217 to 220 and also 233 to bring home his point that if any act is done by the Resolution Professional, in good faith, the entire procedure is provided under the Code to take action against such Resolution Professional be followed. He also referred to Section 236 of the Code to say nothing contained in any other law for the tim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Department urges Section 236 of the Code would not be applicable in the present case since the petitioner in collusion with the erstwhile promoters had allowed them to remove various consignment worth several hundred crores so as to given them undue benefits and that such act of the petitioner would clearly make out offences under the IPC as also PMLA as he was not doing his duty diligently and all the incidents and acts of the petitioner herein would certainly fall within the ambit of PMLA. 13. As sought, let the respondents no.2 and 3 file replies within two weeks from today with an advance copy thereof to the learned counsel for petitioner through email. Rejoinder thereto, if any, be also filed within two weeks thereafter. 14. Li ..... X X X X Extracts X X X X X X X X Extracts X X X X
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