TMI Blog2020 (10) TMI 1069X X X X Extracts X X X X X X X X Extracts X X X X ..... medical papers of the Applicant shows that the Applicant is not suffering from any serious illness and which cannot be treated in Mumbai. If the Applicant is permitted to travel abroad, the likelihood of securing her presence in Mumbai seem remote, if investigation is to be carried out by CBI. In the Interim Application, the Applicant has averred in paragraph 17 that due to the suspension of Air Travel on account of Covid-19 pandemic, no family member of the Applicant was able to travel to Mumbai. Now that the Air Travel restrictions are easing and/or in the process of being eased, the Applicant s family members can travel to Mumbai to be with her. Interim Application is dismissed. - INTERIM APPLICATION NO.1 OF 2020 IN CRIMINAL WRIT PETITION NO.1313 OF 2020 - - - Dated:- 3-7-2020 - A.A. SAYED N.R. BORKAR, JJ. Mr. Shyam Diwan, Sr. Counsel with Mr. Karan Bhosale i/b Mr. Hedgehogfox for the Applicant. Mr. Anil Singh, ASG a/w Mr. S.D. Ptil and Mr. D.P. Singh for Respondent No.1/ UOI. Mr. Deepak Thakare PP with Mr. S.R. Shinde, APP for the State. Mr. Rohit Gupta for Respondent No.3-SBI. ORDER: (Per A.A.Sayed,J.) 1 The above Criminal Application i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est made by the Respondent No.3-State Bank of India, LOC has been issued against her. It is contended that during the resolution process of UIL, two forensic audits were carried out which show that there was no syphoning or diversion of funds by the promotors and Directors of UIL. 4. Learned Senior Counsel for the Applicant/Petitioner submitted that the Applicant was not allowed to travel to Dubai on 24 February 2020 because of the LOC issued against her. Subsequently, due to the Covid-19 pandemic, air travel was suspended across the globe. It is pointed out that the Applicant is senior citizen suffering from various ailments like diabetic neuropathy and peripheral neuropathic pain and hypertension and has been taking medical treatment at Dubai. In order to continue her treatment the Applicant being old and ailing needs to be monitored and even held by someone to carry out the day to day work. He submitted that there is no one to look after the Applicant in these testing times of Covid-19 pandemic and consequent restrictions imposed and it is difficult for the Applicant to survive without any moral or emotional support. He has invited our attention to the medical reports of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nders appointed M/s. ADVARISK, Forensic Auditor, for conducting forensic audit in the Account of the company, M/s. ADVARISK submitted their Forensic Audit Report dated 13.09.2019 from a perusal whereof it was noted that; (i) Ushdev International Limited advanced 216 crs to five entities linked to Uttam Galva Group. These five entities contributed 75% of advances. (ii) That ₹ 146.00 crores out of ₹ 216.00 crores was advanced to entities which had not carried out business since last 5-9 yrs. Viz. HB promoters Developers Pvt. Ltd., Spiral Pack (India) Limited since FY 10 and Naina Devi Commerce Pvt. Ltd. Since FY14. (iii) No such document made available with evidence relating to efforts made by the company to recover ₹ 216.00 croes due from these entities and the company had written off the said advance of ₹ 216.00 crores in FY18 and FY19. (iv) The company sold goods worth ₹ 421.00 Crores to three UK based dormant companies during FY 17. Further these companies were dormant even during the period of transactions with the company. The company has not received payment from these entities FY 17 and FY 18 and the entire amount of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of by the company and not on account of reasons sought to be pleaded by the Petitioner in the said paragraph. The global meltdown pleaded by the Petitioner is sought to be used as a reason by all willful defaulters as a general defense, which to their knowledge has absolutely no truth in their case. 16. With reference to the contents of paragraph 12 of the Writ Petition, it is respectfully submitted that the Respondent No. 3 has filed the Complaint dated 26.12.2019 with the Central Bureau of Investigation on the basis of the Forensic Report dated 13.09.2019 submitted by M/s. ADVARISK. The said forensic report was obtained as the earlier forensic report, as relied upon by the Petitioner were not acceptable to the Lenders. The adverse finding in the Forensic Report dated 13.09.2019 against the company, have been duly considered by the Respondent No. 3 and were found to be tenable and duly supported by evidence. With reference to the reliance by the Petitioner on the submission by the Respondent before the Learned NCLT that there was no willful default or fraud on part of the company, it is respectfully submitted that at that point of time there was no material with the Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X
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