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2017 (12) TMI 665

Bail proceedings against Directors - Held that:- A perusal of the order dated 01.09.2017 shows that a sum of ₹ 15 crores had already been deposited and a further sum of ₹ 5 crores was required to be deposited by 6.9.2017. In the order dated 08.09.2017, it is recorded that ₹ 5 crores was also deposited and Mr. Pawan Shree Agarwal was appointed as amicus curiae for all the projects with certain directions. On 21.09.2017, the Amicus Curiae pointed out that a sum of ₹ 7816 cr .....

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017 - Dated:- 8-12-2017 - MR. M.M. KUMAR AND MR. MS. DEEPA KRISHAN, JJ. For The Applicant : Sanjiv Jain, Sanjeev Narula, Ms. A. Thakur, Ms. Yuvraj Sharma, Ms. Anumita Chandra, Sanjay Shorey, R.K. Tiwari, S.B. Gautam and B. Mishra ORDER 1. Petition mention. 2. We have heard learned Additional Solicitor General, Mr. Sanjay Jain at length. At the outset, it has been pointed out that respondents were sought to be served but they refused to accept notice. 3. On merit, it has been argued inter alia, t .....

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let notice be issued to the respondents returnable on 20lh December, 2017. Process dasti as well. 5. In view of the aforesaid facts, we are satisfied that for issuing interim directions, a prima facie case is made out under Section 242 (4) of the Companies Act, 2013 and in the larger public interest, we grant the following interim directions: (i) The current directors Respondent no. 2 to 9 are suspended and restrained from acting as directors of respondent no. 1 company; (ii) All the respondents .....

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self under the signature of the Bench Officer. List the matter on 20th December, 2017, ** ** ** 6. Before we could sign the order, Mr. Ranjit Kumar, learned Senior Advocate made a mention and cited before us Interlocutory orders passed by Hon ble the Supreme Court on 01.09.2017, 08.09.2017, 21.09.2017, 30.10.2017 and 20.11.2017. These orders have been passed in the bail proceedings initiated by Mr. Sanjay Chandra and Mr. Ajay Chandra, Respondent no. 3 and 4. The broad arguments advanced on behal .....

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ondent no. 3 and 4 were to get bail subject to deposit of a sum of ₹ 750 crores in the registry of the Supreme Court and further directions were issued. 8. After hearing learned Counsel for the parties, we direct that the order which has already been passed in the forenoon session by this Bench shall be subject to compliances of all directions including the one mentioned in the preceding paras. In pursuance to our direction if a new Board of Directors is constituted then it shall also be b .....

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