A bench of the High Court of Bombay Civil Appellate Jurisdiction admitted an appeal and disposed of a civil application seeking stay on the implementation of an impugned order, based on compliance by appellants with security directions issued by the Delhi High Court.
Stay on implementation of impugned order dated 18 June 2010.
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CAY162-20.6.sxw
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
CIVIL APPLICATION NO.162 OF 2010
IN
FERA APPEAL NO.37 OF 2010
M/s. Govindlal Alokkumar Trading Pvt. Ltd. ..Appellant.
versus
Union of India and another ..Respondents.
.....
Mr. Vikram Nankani with Mr. H.S. Khokhawala i/b Nankani and Associates for the Appellant. Ms. S.I. Shah for the Respondents.
......
CORAM : DR.D.Y.CHANDRACHUD &
ANOOP V. MOHTA, JJ.
20 June 2011.
P.C. :
The Appeal has been admitted by an order passed today.
During the pendency of the proceedings, there was an order passed by the Delhi High Court on 21 May 2009 by which an undertaking was furnished by the Appellants not to dispose of and sell the immovable assets without the permission of the adjudicating authority and the Appellants were also directed to furnish security in the amount of Rs.5 lacs to the satisfaction of the adjudicating authority. This order was clarified by a further order dated 26 October 2009. Counsel appearing on behalf of the Appellants has placed on the record a letter dated 24 May 2010 of the Assistant
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Director, in the Directorate of Enforcement recording that the Appellant has provided security to the Directorate, in the total amount of Rs.5 lacs by way of a lien on mutual fund investments made with the HSBC Mutual Fund and State Bank of India Mutual Fund and having complied with the directions contained in the order of 21 May 2009 of the Delhi High Court. Conditional on the Appellants continuing to comply with the directions issued in the order dated 21 May 2009 during the pendency of the proceedings, there shall be a stay on the implementation of the impugned order dated 18 June 2010. The Civil Application is accordingly disposed of.
(Dr. D.Y. Chandrachud, J.)
(Anoop V. Mohta J.)
1 provisions across 1 enactments
M/s. Govindlal Alokkumar Trading Pvt. Ltd.
Union of India
Dr. D.Y. Chandrachud
Anoop V. Mohta
As recorded by the court registry
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