2017 (4) TMI 932

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....2 For The Petitioner : Mr. Shekhar Napahade, Sr. Adv. (A.C.), Mr. Arvind P. Datar, Sr. Adv., Mr. Pratap Venugopal, Adv., Ms. Surekha Raman, Adv., Mr. Purushottam Kumar Jha, Adv., Mr. Anuj Kumar Sarma, Adv., Ms. Niharika, Adv., Mr. Aman Shukla, Adv., Ms. Kanika Kalaiyarasan, Adv., for M/s. K. J. John & Co. For The Respondent : Mr. Salman Khurshid, Sr. Adv., Mr. Narendra Hooda, Sr. Adv., Mr. Gautam Awasthi, AOR, Mr. Ayush Choudhary, Adv., Mr. Rahul Tripathi, Adv., Mr. Sarthak Nayak, Adv., Mr. Tushar Gupta, Adv., Mr. Nikhil Jain, Adv., Mr. Simranjeet Singh, Adv., Ms. Neha Gupta, Adv., Mr. Gautam Talukdar, Adv., Mr. Ram Sajan Yadav, Adv., Mr. Vijay Kumar, Adv., Mr. Vivek K. Tankha, Sr. Adv., Mr. R.V. Prabhat, Adv., Mr. Sachin Pujari, Adv., Mr....

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....dv. ORDER Heard Mr. Sriram Parakkat, learned counsel, who had filed I.A. No.247 of 2017, giving a proposal that MG Capital Holdings LLC, New York, USA, shall purchase the Hotel Plaza by giving 550 million US dollars and to show its bona fide, had agreed to deposit Rs. 750 crores with SEBI Sahara Refund Account, but that has not been done. It is submitted by Mr. Sriram that after due diligence, the Company has found that there is difficulty to go with the transaction. The said interlocutory application has been filed by the Power of Attorney Holder, Dr. Prakash Swamy, who is the deponent to the application. As an affidavit of this nature was filed before this Court, we would like Mr. Rana Mukherjee, learned senior counsel appearing for th....

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....r. Pratap Venugopal, learned counsel appearing for the SEBI shall provide the necessary details of the said property to the Official Liquidator, who with his team, shall make the valuation and proceed with the auction. Learned counsel appearing for the contemnor shall provide all the necessary details of the property also to the Official Liquidator within forty-eight hours. If the Official Liquidator requires some amount, which is reasonable, as agreed to by Mr. Datar, he can make a requisition for the same, and the same shall be paid from the SEBI Sahara Refund Account. Mr. Pratap Venugopal, learned counsel assisting Mr. Datar shall forward this order to the Official Liquidator of the Bombay High Court and also all the details that of the ....