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2010 (4) TMI 596 - HIGH COURT OF CALCUTTAAlleged inter-corporate deposits made by the petitioner with the common company and the alleged failure of the company to repay the same Held that:- The company has made the submission as recorded here with full prejudice and with knowledge of the risks that it entails. If it is true, it exposes the dirty underbelly of Indian corporate functioning and the market watchdog and sentinels must be alerted. But whatever may be the consequences, the simple version of things that the petitioner in either case painted, appears to be a trifle short on details. The claims of the petitioners are relegated to suits. That does not imply that the company's version has been accepted, but only that a triable issue has arisen upon the company claiming that the payments made by either petitioner were part of a series of concurrent transactions that these parties, with several others, had devised. The two documents that the company has relied on in its original affidavit in either case do not appear to have been contemporaneously issued, though the letterheads and the rubber-stamps have not been specifically questioned by the petitioners in their affidavits-in-reply. The petitioners have alleged that these are manufactured documents and it is more than likely that they are so, but in the absence of the petitioners having denied the letterheads and the rubber-stamps, the veracity of such documents have to be tested in more protracted proceedings than is conveniently permissible in this summary jurisdiction. C.P. No. 316 of 2008 and C.P. No. 315 of 2008 are permanently stayed.
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