TaxTMI 
TaxTMI 
2020 (12) TMI 918
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....petitioner no.1, dated 03.11.2020, has been filed today by learned counsel for the respondent no.12, which is taken on record. 3. Heard learned counsel for the petitioners and the learned counsel for the respondent no.12 on applications dated 9.09.2019, 30.11.2019 and 30.07.2020 filed by the respondent no.12 raising objection as to the maintainability of the present Company Petition. The respondent no.12 has raised objections in the aforesaid three applications that since the Companies Act, 1956 has been repealed and a new Act i.e. The Companies Act, 2013 and Insolvency and Bankruptcy Code 2016 have been enacted, therefore, by virtue of Section 434(1)(c) of the Act 2013 read with Rule 5 of the Companies (Transfer of Pending Proceedings) Rules, 2016, the present Company Petition is not entertainable by this Court and it has to be transferred to the National Company Law Tribunal (for short "NCLT") constituted under Section 408 read with Section 410 of the Act 2013. 4. With the consent of both the learned counsels for the parties, the following questions is being framed for adjudication in the aforesaid three applications:- QUESTIONS (i) Whether in view of Sect....
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.... the notice of this Court how various consumers, distributors and dealers of respondent No. 12 -M/s. S.B. Petroleum Ltd. spread in nine States, namely Madhya Pradesh, Maharashtra, Karnataka, Uttar Pradesh, Haryana, Rajasthan, Bihar, Delhi, Punjab were taken for a ride and cheated by collection of crores of rupees. According to the petitioners crores of rupees were syphoned and personal properties acquired. Various orders were passed by this Court from time to time against respondent. 12- Company and its Managing Director and his family members and also other Directors. Directions were also issued to various authorities noticing a total inaction on the part of the authorities. Some of the orders passed to which reference can be made in this regard are the orders dated 20th October and 17th November, 1997, 6th February and 20th March, 1998 and 3rd December, 2001. Various bank accounts and properties have been attached. The matter was also investigated by CBI and the Economic Offences Wing (CID) U.P. We have been informed by Shri Altaf Ahmad, learned Additional Solicitor General that 22 chargesheets were filed on 24th December, 1999 before Additional Chief Judicial M....
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....hant Ganj, Lucknow A/c No.1673 8. Bank of Baroda A/c No.1730 9. Bank of Baroda, Gore Gaon, Bombay A/c No.3284 10. Bank of Baroda, Gandhi Dham, Gujrat A/c No.1366 11. Bank of Baroda, Gandhi Dham, Gujarat No.1465 12. Bank of Baroda, Asharami Ahmedabad, Gujarat A/c No.30157 13. Bank of Baroda, Aliganj, Lucknow, Krishna International A/c No.316 14. Bank of Baroda, Aliganj, Lucknow, SB International Oil & Energy No.610 15. Bank of Baroda, Aliganj, Lucknow, SB Petroleum, Port Terminal A/c No.617 16. Bank of Baroda, Aliganj, Lucknow, Saushail Enterprises A/c No.618 17. Bank of Baroda, Aliganj, Lucknow, SBLPG Bottling, No.640 18. Bank of Baroda, Aliganj, Lucknow A/c No.493 19. Bank of Baroda, Aliganj, Lucknow. A/c No.6343 20. Bank of Baroda, Nishatganj, Lucknow, Shell Petroleum A/c No.1606 21. Bank of Baroda, Nishatganj, Lucknow, SB Petroleum Port Terminal A/c No.1692 22. Bank of Baroda, Nishatganj, Lucknow, SB International Oil & Energy A/c No.1623 23. Bank of Baroda, Nishatganj, Lucknow, Saushil Enterprises A/c No.1640 24. State Bank of ....
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.... LOAN/ADVANCE TO: M/s Kashinath Kailashnath Jewellers Lucknow UP Rs. 25.00 lacs Refund of Security Deposit for land at Pipavav Port for LPG & SKO Storage Rs. 7.00 lacs Sale of land at Mathura, Meerut & Mainpuri Rs. 15.00 lacs 25. Investments made at Mohanlal Ganj, Lucknow, UP, such as: - LPG Bottling Plant Rs. 169.00 lac approx. SKO Storage Plant Rs. 130.00 lacs approx. f) The Special Commissioner would also take charge of the following FDRs:- 3rd August 1993 20 Lacs 18th December, 1993 15 lacs 5th May, 1994 10 lacs 1st June, 1994 7.5 lacs 5th October, 1994 7.5 lacs 15 lacs 10 lacs 7th September, 1994 33,70049/- September, 1994 25 lacs October 1994 7.5 lacs January, 1995 7,63,291 12th July, 1994 -Two FDRs -7.5 lacs each 11th September, 1994 15 lacs 5th October, 1994 7.5 lacs g) The Special Commissioner would insert two advertisements in the Times of India, Indian Express, Dainik Jagran or such other important newspapers having large circulation in the concerned States announcing his appointment and invi....
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....roperties and decide the matter in accordance with law as also the matters in respect of which mention has been made by his chartered accountant. k) The CBI and Economic Offences Wing, CID (UP) are directed to report the progress of the case before the special bench at the High Court. l) It would be open to the Special Commissioner to to approach the special bench of the High Court for any clarification/directions/orders. m) Some amounts are lying in fixed deposites pursuant to the orders passed by this Court from time to time. Those FDRs be transmitted to the High Court. The Special Commissioner, as and when necessary, may seek directions from the High Court in respect of the amounts in those FDRs. Before concluding we place on record this Court's deep appreciation for the services rendered by the amicus curiae Mr. AK Ganguly, Senior Advocate and Ms. Rachna Srivastava, Advocate. The writ petition and all applications are disposed of in the above terms." (ii) Vide para (a) of the aforequoted order, Hon'ble Supreme Court transferred entire papers of the aforesaid Writ Petition requesting Hon'ble the Chief Justice of t....