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TMI Blog2025 (3) TMI 511X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. We shall close the matter in the event if arrest is effected. It is now for the Enforcement Directorate to go ahead with the auctioning of all the attached properties so as to try to recover the maximum amount possible.
Conclusion - The miscellaneous application could be considered in light of the petitioner's proposal, despite questions of maintainability.
Post this matter on 14th July, 2025. X X X X Extracts X X X X X X X X Extracts X X X X ..... paragraph 4 of the application are free of all encumbrances. In other words, whether the petitioner is the lawful owner of these three properties as on today. Mr. Sibal would submit that he would have to take instructions in this regard. 5 In such circumstances referred to above, we request Mr Venkatesh, the learned counsel appearing for the Enforcement Directorate to undertake an enquiry as regards the status of the three properties referred to above. Mr Venkatesh submitted that it would take some time to enquire and file an appropriate report as regards the three properties. 6 For the present post this matter on 11th November, 2024 to enable Mr. Venkatesh to seek appropriate instructions in the matter. 7 We had granted two weeks time to the petitioner to surrender. The period expires today. For the limited purpose as aforesaid, we extend the time period to surrender upto 12th November, 2024. 8 We also direct the petitioner to file appropriate affidvit declaring the status of the three properties more particularly, whether they are free of all encumberances or not. 9 We also direct the State of Telangana to undertake an enquiry and file a report as regards the status of the th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant." 3. x x x 5. In respect of property at SI. No. (iii) in the table above, it is submitted that the survey numbers in property at Tolichowki, Shaikpet Village and Mandal, as per attachment done by Respondent Directorate are 41, 174, 177, 178, 180/1, 181, 182 and 211 which are different from the survey numbers (12, 13, 14 & 15/1, Block-M, Ward No. 13, Tolichowki, Shaipet (M) mentioned by her. Further, a demarcation report dated 09.03.2023 was furnished by the Dy. Inspector of Survey, Secunderabad Division on the instructions of the Deputy Director, Survey & Land Records, Hyderabad in view of the directions of the Hon'ble Supreme Court. The said report, inter alia, mentions that "the subject land is falling in T.S. Nos. 12, 13, 14 & 15/1, Block-M, Ward 13 correlated to Survey No. 41, 174 and 181 of Shaipet Village & Tahsil". Hence, it can be seen that though the survey numbers have been correlated by the Survey and Land Records Department, Hyderabad, there are certain survey Nos. such as 177, 178, 180/1, 182 and 211 which are missing in the said correlation. 6. Further, it has also been found that as per the "Statement of Encumbrance", there are multiple owners of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... physical verification report conducted by the answering respondent is being annexed herewith marked as Annexure R-3. 5. It is further submitted that the Petitioner herein had also made representations in the past regarding illegal encroachments on the said property No.iii which were duly forwarded to the jurisdictional police for taking necessary action. True copy of the letter dated 17.10.2024 forwarded to the jurisdictional police are attached herewith marked as Annexure R-4 6. It is pertinent to note that the Petitioner herein was fully aware of the illegal encroachment and legal disputes involved in the said property which is being mentioned at SI. No.iii, viz., M/s. Heera Retail (Hyd) Pvt. Ltd., Open Slots in Town Survey Nos. 12,13,14 & 15/1, BlockM, Ward No. 13, Tolichowki, Shaikpet (M), Hyderabad, Telangana-500 008, which is around 33,060.15 Sq. Yards having being submitted stating its fair market value as on 26.08.2024 is of Rs. 753,77,14,200/- and realizable value is of Rs. 678,39,42,780/- but yet chose to misrepresent the same before this Hon'ble Court. 7. Further, after the physical verification of the said property (at SI. No. 7 (iii) above), a representation d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contents of the aforesaid Report are true and correct to the best of my official knowledge and records. No part of it is false and no material has been concealed therefrom." 3. The State of Telangana was also directed to file its report. However, due to some difficulties, the State has not been able to file its report. However, a statement is being made by the learned counsel appearing for the State of Telangana that the State has also verified and have confirmed that so far as the first two properties are concerned, they are free from all encumbrances. 4. At this stage, Mr. Navin Pahwa, the learned senior counsel appearing for an intervener submitted that his client has a mortgage deed in his favour so far as the first property, i.e., 'Naina Towers' is concerned. 5. We are not getting into all these controversies, as aforesaid, at this stage. If any person has any interest in the properties created by any agreement or the like, such person will have to establish his right in accordance with law. 6 Today, we go by the statement and the enquiry undertaken by the Enforcement Directorate as well as the State of Tamil Nadu. 7 Having regard to the report filed by the Enf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned counsel appearing for the Enforcement Directorate. 2. Mr. Venkatesh pointed out that the directorate will be putting two properties belonging to the petitioner to auction on 23-1-2025. The upset price fixed for the two properties is Rs.53 Crore and Rs. 55 Crore respectively. 3. Let us await for the outcome of the auction proceedings. If some party comes forward with an appropriate offer, it is well and good, otherwise something else will have to be worked out. 4. The second thing he pointed out is that the petitioner has yet to deposit Rs.25 Crore as directed by this Court. She still has about one month's time to deposit this amount. 5. In view of the specific direction passed by this Court, the petitioner shall deposit this amount within the stipulated period. 6. The third thing which Mr. Venkatesh pointed out is that the petitioner has yet to furnish a list of other properties which according to her are free of all encumbrances and there is no charge of any nature. 7. As regards the aforesaid, Mr. Sibal responded by saying that such list has already been provided to the Enforcement Directorate. However, let a fresh list of all such properties be furnished to the D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further restitution of the amount realized to the rightful claimants/victims of the fraud. c) Direct petitioner to submit fresh list of unencumbered properties free from all claims and also forthwith submit all third party claims in the list of 96 properties submitted by her to the Directorate of Enforcement for auction. d) Allow the present application and set aside the liberty of bail granted to the Petitioner herein due to her noncompliance of the orders of this Hon'ble Court." 5. we grant the prayer in terms of a, b and c respectively referred to above. 6. We are informed that the Enforcement Directorate has attached 28 properties so far in addition to the 96 properties which were earlier attached. We want to know about the outcome of the auction proceedings which we talked about during the course of the last hearing i.e. on 15.01.2025. 7. Mr. A. Venketesh informs us that the Enforcement Directorate is on the verge of finalizing one deal with respect to one property at around Rs. 40,00,00,000/- (Rs. Forty crore). Let this deal be now finalized. We are further informed that so far as the second property is concerned, the first round of auction has failed. If that be so t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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