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$-13 to 15 HIGH COURT OF DELHI
CRL.M.C. 5072/2015 & Crl.M.A. No. 18251/2015
M/S PSL LTD Petitioner
Through: Mr.R.N. Mittal and Mr.Puneet Mittal, Sr. Advs. and Mr.R.P. Singh and Ms. Vasudha Bajaj, Advs.
CRL.M.C. 5072/2015 & Crl.M.A. No. 18251/2015
M/S PSL LTD Petitioner
Through: Mr.R.N. Mittal and Mr.Puneet Mittal, Sr. Advs. and Mr.R.P. Singh and Ms. Vasudha Bajaj, Advs.
VERSUS
STATE & ANR Respondents
Through: Ms. Suman Saharan for Mr.R.S.
Kundu, ASC for State.
Mr.Sanjeev Singhand Ms. Anandita Singh, Adv. for R-2/complainant with
Mr.Mahesh Parashar, AR.
Mr.Somesh Chandra Jha, Adv. for Abudhabi Bank.
Inspector Afsar Raza, EOW
Through: Ms. Suman Saharan for Mr.R.S.
Kundu, ASC for State.
Mr.Sanjeev Singhand Ms. Anandita Singh, Adv. for R-2/complainant with
Mr.Mahesh Parashar, AR.
Mr.Somesh Chandra Jha, Adv. for Abudhabi Bank.
Inspector Afsar Raza, EOW
W.P.(CRL) 1907/2015 & Crl.M.A. No. 12783/2015
R K BAHRI & ORS Petitioners Sr. Advs. and Mr.R.P. Singh and Ms. Vasudha Bajaj, Advs.
R K BAHRI & ORS Petitioners Sr. Advs. and Mr.R.P. Singh and Ms. Vasudha Bajaj, Advs.
VERSUS
STATE OF NCT OF DELHI & ORS Respondents
Through: Ms. Suman Saharan for Mr.R.S.
Mr.Sanjeev Singh and Ms. Anandita W.P.(CRL) 1972/2015 & Crl.M.A. No. 13135/2015
ASHOK PUNJ & ANR Petitioners 2018:DHC:9082 Sr. Advs. and Mr.R.P., Singh and Ms. r Vasudha Bajaj, Advs.
Through: Ms. Suman Saharan for Mr.R.S.
Mr.Sanjeev Singh and Ms. Anandita W.P.(CRL) 1972/2015 & Crl.M.A. No. 13135/2015
ASHOK PUNJ & ANR Petitioners 2018:DHC:9082 Sr. Advs. and Mr.R.P., Singh and Ms. r Vasudha Bajaj, Advs.
VERSUS
THE STATE OF NCT OF DELHI &ANR Respondents
Through; Ms. Suman Saharan for Mr.R.S.
Mr.Sanjeev Singh and Ms. Anandita CORAM:
HON'BLE MR. JUSTICE NAJMI WAZIRI
ORDER o/o 26.07.2018 An MOU has been handed over by the learned counsel for the petitioners, which has been signed by the petitioner, and the complainant, whereby repayment ofmonies apropos the amount ofRs.8.5 crores is to be repaid to the respondent-complainant.
The learned Senior Counsel for the petitioners submits upon instructions that they are ready and willing to pay an amount of Rs.8.5 crores in terms of the Memorandum of Understanding (MOU) dated 30''"
January, 2017, as an initial amount towards the claims of the complainant along with such interests as may be fixed by this Court apropos the lapse in payment of the said amount pursuant to the. aforesaid, MOU. The petitioner's bank account i.e., ICICI account bearing No.039313005070 has been frozen by the Investing Agency and an amount of rnore than Rs. 11 crores,is stated to be lying therein.
The learned counsel for the parties have been heard. It is directed that
V^v\ Rs.8.5 crores'shall be released to the respondent no.2 - complainant from the said account as payment in terms ofthe MOU. Additionally, simple interest
@11.5% shall also be paid to the complainant. The learned Senior Counsel for the petitioners has 'no objection' to the said rate. Let this amount also be deducted from the aforesaid amount lying deposited in the said Bank and credited directly into the bank account ofthe respondent-complainant. The interests and claims ofthe complainant apropos the remaining amounts have been secured interms ofthe MOU dated 30.01.2017. The parties submit that in view of the settlement, there would be no occasion, reason or purpose to pursue the FIR, as registered. Accordingly, the same stands quashed.
The ICICI Bank shall ensure that the monies, as directed to be paid to the complainant, are released first to the complainant and the remaining amount would then be available to the petitioners for payment of statutory dues, etc., as per law.
The learned counsel for Abu Dhabi Bank, who has sought intervention, states that the said Bank alsp has been defrauded ofover Rs. 45 crores; that the monies were lent to the petitioners on fraudulent representations and it has accordingly, filed a police complaint for registration of an FIR, which is ,pending flirther action. The aforesaid allegations against the petitioners are denied by the learned Senior Counsel for the petitioner. Be that as it may, the interests ofthe said Abu Dhabi Bank are not being addressed in the present petition. It will be open for them to pursue civil and criminal remedies, as may be available in law.
At this stage, the learned Senior Counsel for the petitioners submits that in its endeavour to secure all the bank accounts of the petitioners, the
Investigating Agency has also frozen the account of. the petitioners maintained with the Abu Dhabi Banlc, in which an amount of Rs.1.35 ciores had been transferred by the petitioners for part repayment ofthe loan to the said Bank. The police has erroneously seized that account as well. They have 'no objection', if the saidamount is de-frozen.
In view of the fact that the monies are due to Abu Dhabi Commercial
Bank and the petitioner's loan repayment account has been frozen, it is in the interest of justice to de-freeze the said account. Accordingly, Account
No.21010585231 with the Abu Dhabi Commercial'Bank is directed to be de-frozen and for appropriation by the said Bank.
A sum of Rs.8.5 crores along with simple interests @ 11.5% per annum with effect from the date of MOU i.e. 30.01.2017 till the payment shall be paid to the respondent-complainant. The Bank Manager, ICICI
Bank, shall ensure that the said monies of Rs.8.5 crores along with interests in terms of the above, till the date oftransfer of the monies to the account, is paid within two days of receipt of this order into the bank account of
Respondent no.2- Complainant- M/s Aditya Birla Finance Ltd.
The learned counsel for the parties submits upon instructions that the parties shall'abide by the terms of aforesaid MOU.
The learned counsel for the parties draws this Court's attention to the
MOU, which states that they will not pursue any further criminal proceedings in this regard.
A copy of this order be given dasti to the learned counsel for the parties under the signatures of the Court Master.
NAJMI WAZIRI, J.
JULY 26, 2018 neelam
Through; Ms. Suman Saharan for Mr.R.S.
Mr.Sanjeev Singh and Ms. Anandita CORAM:
HON'BLE MR. JUSTICE NAJMI WAZIRI
ORDER o/o 26.07.2018 An MOU has been handed over by the learned counsel for the petitioners, which has been signed by the petitioner, and the complainant, whereby repayment ofmonies apropos the amount ofRs.8.5 crores is to be repaid to the respondent-complainant.
The learned Senior Counsel for the petitioners submits upon instructions that they are ready and willing to pay an amount of Rs.8.5 crores in terms of the Memorandum of Understanding (MOU) dated 30''"
January, 2017, as an initial amount towards the claims of the complainant along with such interests as may be fixed by this Court apropos the lapse in payment of the said amount pursuant to the. aforesaid, MOU. The petitioner's bank account i.e., ICICI account bearing No.039313005070 has been frozen by the Investing Agency and an amount of rnore than Rs. 11 crores,is stated to be lying therein.
The learned counsel for the parties have been heard. It is directed that
V^v\ Rs.8.5 crores'shall be released to the respondent no.2 - complainant from the said account as payment in terms ofthe MOU. Additionally, simple interest
@11.5% shall also be paid to the complainant. The learned Senior Counsel for the petitioners has 'no objection' to the said rate. Let this amount also be deducted from the aforesaid amount lying deposited in the said Bank and credited directly into the bank account ofthe respondent-complainant. The interests and claims ofthe complainant apropos the remaining amounts have been secured interms ofthe MOU dated 30.01.2017. The parties submit that in view of the settlement, there would be no occasion, reason or purpose to pursue the FIR, as registered. Accordingly, the same stands quashed.
The ICICI Bank shall ensure that the monies, as directed to be paid to the complainant, are released first to the complainant and the remaining amount would then be available to the petitioners for payment of statutory dues, etc., as per law.
The learned counsel for Abu Dhabi Bank, who has sought intervention, states that the said Bank alsp has been defrauded ofover Rs. 45 crores; that the monies were lent to the petitioners on fraudulent representations and it has accordingly, filed a police complaint for registration of an FIR, which is ,pending flirther action. The aforesaid allegations against the petitioners are denied by the learned Senior Counsel for the petitioner. Be that as it may, the interests ofthe said Abu Dhabi Bank are not being addressed in the present petition. It will be open for them to pursue civil and criminal remedies, as may be available in law.
At this stage, the learned Senior Counsel for the petitioners submits that in its endeavour to secure all the bank accounts of the petitioners, the
Investigating Agency has also frozen the account of. the petitioners maintained with the Abu Dhabi Banlc, in which an amount of Rs.1.35 ciores had been transferred by the petitioners for part repayment ofthe loan to the said Bank. The police has erroneously seized that account as well. They have 'no objection', if the saidamount is de-frozen.
In view of the fact that the monies are due to Abu Dhabi Commercial
Bank and the petitioner's loan repayment account has been frozen, it is in the interest of justice to de-freeze the said account. Accordingly, Account
No.21010585231 with the Abu Dhabi Commercial'Bank is directed to be de-frozen and for appropriation by the said Bank.
A sum of Rs.8.5 crores along with simple interests @ 11.5% per annum with effect from the date of MOU i.e. 30.01.2017 till the payment shall be paid to the respondent-complainant. The Bank Manager, ICICI
Bank, shall ensure that the said monies of Rs.8.5 crores along with interests in terms of the above, till the date oftransfer of the monies to the account, is paid within two days of receipt of this order into the bank account of
Respondent no.2- Complainant- M/s Aditya Birla Finance Ltd.
The learned counsel for the parties submits upon instructions that the parties shall'abide by the terms of aforesaid MOU.
The learned counsel for the parties draws this Court's attention to the
MOU, which states that they will not pursue any further criminal proceedings in this regard.
A copy of this order be given dasti to the learned counsel for the parties under the signatures of the Court Master.
NAJMI WAZIRI, J.
JULY 26, 2018 neelam
JUDGMENT