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2020 (10) TMI 705 - Tri - Companies LawPermission to withdraw, from time to time, such amounts as may be required for the educational expenses of his son - HELD THAT:- The son of the Applicant has received intimation letter from the Institute of Management and is desirous of taking admission there. It cannot be disputed that the expenses of admission and the course which the son of the Applicant wishes to undertake cannot be met from the limited/fixed amount that the applicant is allowed to withdraw every month from his bank account(s). The Applicant would not be in a position to meet the educational expenses of his son from the amount that the Applicant is allowed to withdraw, nor has he any other resources for the purpose. The objection by the Respondent (UOI), that the Applicant is involved in the financial irregularity of the Gitanjali Gems Ltd and that is being invested by SFIO as well as the CBI would not be relevant for the prayers made in the present Application. The prayers made in the Application concerns the life and the career of young man who has nothing to do with the alleged wrongdoings of his father. The involvement or otherwise of the Applicant in the Company Petition would be taken into account during hearing of the Petition after considering all the relevant facts. The Applicant is permitted to withdraw such amount as would be necessary from the HDFC Account to defray the educational expenses of his son Manthan Sanjay Rambhia for pursuing the PGDM eBiz program in Welingkar Institute of Management Development & Research, Matunga, Mumbai on his submitting the Institute’s intimation or letter requiring him to deposit such amounts with the Institute according to the payment schedule of the Institute - Application allowed.
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