9911796707
TMI Blog2024 (12) TMI 1410X X X X Extracts X X X X X X X X Extracts X X X X ..... Wadhwa and Ms. Shreya Singh, Advs. SHALINDER KAUR, J. (ORAL) 1. The present Letters Patent Appeal under Clause X of the Letters Patent of this Court has been filed impugning the order dated 24.12.2024 passed by the learned Single Judge of this Court in CM APPL No. 73194/2024 filed in W.P(C) No.14518/2024, whereby the Look Out Circular (LOC) issued against the respondent herein has been suspended and he has been permitted to travel abroad, subject to certain conditions. 2. Before dealing with the rival submissions contended at the Bar, a brief factual background is to be noted; The respondent herein is the erstwhile director and shareholder of the M/s Wave Megacity Centre Pvt. Ltd. (Corporate Debtor). While the respondent was serving as d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Tribunal, New Delhi (NCLAT) challenging the order dated 06.06.2022 passed by the NCLT. However, vide the order dated 05.01.2023, the NCLAT dismissed the Company Appeal filed by the Corporate Debtor. 5. Thereafter, vide the reference dated 23.10.2023, the Director, Inspection and Investigation, Ministry of Corporate Affairs (MCA) informed the Bureau of Immigration that a LOC be issued against the respondent. On 08.10.2024, the respondent herein filed a Writ Petition bearing W.P(C) No.14518/2024, praying therein for the following relief: "a. Issue a Writ of Mandamus directing the Respondents to place before this Hon'ble Court the Look out Circular(s) and all connected note sheets / letters / documents showing the process and reasons fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... creating a false impression of co-operating with the investigating agency, has deliberately refrained from providing complete information to the investigating agency as directed in the impugned order. The respondent has not provided the investigation officer with (i) the Income Tax Returns as desired (ii) his offshore ownership/stakes/interests until the filing of the aforementioned writ petition, which includes a company in Belgium of which he is a Director and various other companies he is desirous of conducting business with (iii) the financial statements of the Corporate Debtor provided by the respondent, which have no mention of the offshore interests and stakes. 8. The learned counsel submits that the learned Single Judge ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oad yesterday in pursuance of the order passed by learned Single Judge, and having fulfilled all the conditions of the order, the appellant, on its own, gave directions to the Immigration Bureau to not allow the respondent to travel. Thus, the appellant has clearly defied the order of the learned Single Judge. 11. Mr. Sethi submits that the respondent was not aware of the LOC till 02.11.2023, when he was informed by the Immigration Officers at the Indira Gandhi International Airport, upon his return to India. In furtherance, he submits that the LOC has still not been officially communicated to the respondent who had no way of knowing about what transpired which is a clear violation of the principles of natural justice and his Fundamental R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Europe and thus is not a 'flight risk'. 14. To conclude, the learned senior counsel submits that the allegations against the respondent are false, as he had no intention of siphoning off or misappropriation of the money of the investors or other stakeholders, as the Corporate Debtor, out of a total of 2300 allottees, has refunded monies to 656 people, given possession to 210 people and offered possession to 455 people. Moreover, the imposition of LOC is not warranted and the fundamental right of the respondent under Article 21 of the Constitution of India, to travel abroad, cannot be infringed. 15. To rebut the submissions, the learned CGSC submits that on 26.12.2024, while appearing before the Registrar of this Court, he had no instruc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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