TaxTMI 
TaxTMI 
2019 (10) TMI 594
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....ion to the Ex-Director/Promoter not to leave the country without permission of this Tribunal and to impound their passports. When the application was heard on 23.04.2019 after notice, we passed the following order:- "Ld. Counsel for the non-applicant respondent seeks and is granted one week time to file reply with a copy in advance to the counsel opposite. The non-applicant-respondent seeks and is granted one week time to file reply with a copy in advance to the counsel opposite. The non-applicant Mr. Athar Zia, Mrs. Sheeza Zia & Mr. Mohammad Zulfiqar Ullah Siddiqui are directed not to leave the country without the prior permission of this Tribunal." 2. Reply and rejoinder have been filed and the allegations have been c....
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....n be filed before Hon'ble Adjudicating Authority praying for orders impounding the passports of the directors to prevent them from leaving the country." (Annexure-1) 4. The aforesaid resolution has armed the applicant-Resolution Professional to file the instant application. 5. In the Reply the stand taken is that the non-applicant-Ex-Directors have not signed or diverted the funds of the Corporate Debtor-respondent. They are peace living and law binding citizen. They have always co-operated with the resolution Professional. There is not even a single instance which may lead to the conclusion that they may flee the country. The decision of the CoC in its 6th meeting held on 22.03.2019 is arbitrary and the demand for impounding the ....
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....lue transaction has been filed. The allegations against the Resolution Professional-applicant have also been controverted. 7. We have heard Ld. Counsel for the parties. 8. Ms. Medha Tandon, Ld. Counsel for the applicant-Resolution Professional has argued that the fraudulent transactions and under value transactions involve more than 45 Crores and in a situation of this nature, the CoC in its 6th meeting has rightly apprehended that the non-applicant-respondents may flee the country. In order to ensure that the accused remain present to face the process of law, it is necessary that they should not leave the country without prior permission of this Tribunal. The best way to prevent them from leaving this country is to direct them to sur....
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....have their families and they have roots in the society. It is further submitted that they have fully co-operated with the Resolution Professional in furnishing each and every information and being law binding citizens, they can't be visited with an order of impounding of their passport. 10. Having heard the Ld. Counsel for the parties and perusing the record we are of the considered view that the non-applicant-respondent Nos. 1 to 3 would be required by the law enforcing agencies and there are substantial allegations which cannot be brushed aside merely on the ground that the non-applicants have co-operated with the Resolution Professional or other investigating agency so far or on the ground that the non-applicants have roots in soc....
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....ed of his right to press for relief by filing appropriate application with the passport authorities under Section 10 or under section 10A of the Passport Act, 1967. The aforesaid position emerges from para 19 of the judgment rendered in Suresh Nanda's case (supra) wherein Hon'ble Supreme Court held that it would be open to the complainant to approach the passport authorities under Section 10 or Section 10A of the Passport Act, 1967 for impounding of the passport of such like persons in accordance with law. 13. As a sequel to the above discussion we dispose of the application by issuing following direction :- 1. Non-applicant-respondents 1 to 3 namely Mr. Athar Zia, Mrs. Sheeza Zia & Mr. Mohammad Zulfiqar Ullah Siddiqui s....