TaxTMI 
TaxTMI 
2018 (2) TMI 1771
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....isclose their moveable and immovable properties/assets, including bank accounts, owned by them in India or anywhere in the world. (c) That the Respondents be restrained From mortgaging or creating charge or lien or third-party Interest or in any way alienating, the movable or immovable properties owned by them and further, direct attachment of the all said properties and hand them over to the Petitioner. Petitioner be allowed to execute such orders through the Indian Missions, stationed overseas, for the immoveable and moveable properties in existence abroad. (d) That the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and Securities and Exchange Board of India (SEBI) be directed to restrain the trading of securities of Respondent No. 1. (e) That the Respondent Nos. 2, 3, 7, 8, 9, 22 and 23 be restrained from mortgaging or creating charge or lien or third-party interest or in any way alienating the securities issued by the said Respondents. (f) That Central Depository Services Ltd. (CDSL) and National Securities Depository Ltd. (NSDL) be directed that securities owned/held by the respondents in any company be freezed and details thereo....
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....nts and their group companies in the name of diamond business, according to the Petitioner, committed mega fraud by conniving with some of the Officers of PNB routing money of a public sector Bank through issual of letter of undertakings to their benefit without making any entries in the trade finance module of the Banks, i.e. Core Banking Service (CBS) system to avoid detection. The Petitioner submits that the funds received under Buyer's credit from overseas banks were credited to Nostro Account of the Bank and subsequently utilized as per direction given by the conniving officer to repay Imports/earlier Buyer's credit used by the firms. For issuance of fraudulent LCs, the conniving officer, issued LCs by entering a small amount in trade module of Core Banking Service (CBS) system and generating the reference number and SWIFT messages were sent for the amounts. Subsequently, without making any change in Trade Finance Module of CBS system, the conniving officer sent modified SWIFT message for the same reference to the beneficiary bank for enhanced amount unauthorizedly. By sending modified SWIFT message with the reference given for smaller amount, this enhancement would no....
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....ondent No. 16), SWO PNB in connivance with the accused companies represented by its Directors and unknown others during 2017-18 defrauded PNB to the tune of an aggregate amount of USD 754.92 Million (equivalent to Rs. 4886.72 Crores @ Rs. 64.00 per USD) in the matter of issuance of unauthorized and fraudulent Letters of Undertaking in favour of Foreign Branches of different Indian-based Banks and purported Foreign Letters of Credits (FLCs) in favour of foreign suppliers of the accused companies. The FIR dated 15/02/2018 states that the accused include the companies belonging to the Gitanjali Group promoted by Mr. Mehul Choksi (Respondent No. 14). A copy of the FIRs dated 31/01/2018 and 15/02/2018 as shown in Annexure P-2 (collectively) filed by the petitioner. 5. The Petitioner has given description of various companies to which money has gone through modus operandi described above, and from these companies, those monies being shown as gone to their Partners and Trusts maintained by Nirav Modi, this Petition as of now deserves orders to be passed u/s. 221 of the Companies Act, 2013 so as not to let the assets of any of these companies, other entities mentioned below, frittered a....
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....Limited, France - Firestar Diamond PTE Limited, Singapore - Firestar Diamond and Jewelry FZCO, UAE - Firestar Diamond Ltd., Russia - Synergies Corporation - Camelot Enterprises Private Limited - Rohin Trust - A Jaffe INC., USA - Nipur BVBA - Islington International Holdings PTE Ltd. Some of the properties movable including immovable properties details available with us:-Firestar International Ltd.:- A. Movable: First pari-passu charge by way of hypothecation of stocks lying at factory premises as well as outside on job-order basis, Receivables and other current assets (present and future of the Company) and receivable with other consortium banks. B. Immovable: (Mortgaged to the Consortium on pari - passu basis) Exclusive Security with the PNB: Firesatr diamond International Pvt. Ltd. (FDIPL):- A. Movable; Fist pari-passu charge by way of hypothecation of stocks lying at factory premises as well as outside on job-order basis, Receivables and other current assets (present and futu....
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....ct, 2013 or Section 43 of LLP Act, 2008, since there is a categorical statement from Union of India that funds were routed to those individuals and Trusts through the companies mentioned above, to make investigations meaningful to crack this fraud, restraint order is very much necessary against the assets lying with the individual and Trusts in addition to the companies and LLPs mentioned above. Since the Petitioner having said that the funds of the Bank have been routed through the companies and LLPs to the Trusts and individuals as well, investigation against other entities being incidental to the investigation ordered against the companies and LLPs, the whole exercise of Investigation and passing orders by this Bench will become futile unless restraint order Is passed against these individuals and Trusts thereof. 7. If any further particulars come into existence, the Petitioner is directed to file additional affidavit supporting the case mentioned in this Company Petition. It goes without saying that the rigmarole of CPC not being applicable and this order being an aid to make investigation effective, though many of them against whom orders passed are not made as parties, thi....
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....irav Modi Neeshal Deepak Modi Nehal Deepak Family Trust Deepak Keshavlal Modi Nirav Deepak Modi Ami Nirav Modi Neeshal Deepak Modi Purvi Mayank Mehtal Ami Nirav Modi Neeshal Deepak Modi Nehal Deepak Modi Rohin Nirav Modi Modi Rohin Nirav Ananya Nirav Modi Modi Ananya Nirav Apasha Nirav Modi Modi Apasha Nirav Modi #Directors (as per ROC search dated 08.12.17) are as under: M/s NDM Enterprises Pvt Ltd Hemant Dahyalal Bhatt Ramesh Madhavdas Assar M/S ANM Enterprises Pvt Ltd Ramesh Madhavdas Assar Ketan Chandrakant Solanki Document 3 Name of Company/ Firm Radashir Jewelry Company Private Ltd Jewelry Solutions International Private Ltd (Amalgamated) Firestar Diamond Pvt. Ltd Neeshal Enterprises LLP Paragon Jewellery LLP Paragon Merchandising LLP Panchajanya Diamonds LLp Directors/Partners Mr. Nirav Deepak Modi Mr.HemantDahyalal Bhat Mr. Nirav Deepak Modi Mr.HemantDahyalal Bha Mr. Nirav Deepak Modi Mr.HemantDahyalal Bhat Mr. Nirav Deepak Modi Mr.HemantDahyalal Bhat Mr. Nirav Deepak Modi Mr.HemantDahyala....