LPA/189/2019 of ALCHEMIST INFRA REALTY LTD Vs UNION OF INDIA & ORS

Court: Delhi High Court
Decision date: 2019-03-18

Parties

ALCHEMIST INFRA REALTY LTD (PETITIONER)
UNION OF INDIA & ORS (RESPONDENT)

Cites (1)

W.P.(C)/3844/2021 of RASHI PERIPHERALS PRIVATE LIMITED Vs UNION OF INDIA AND ORS (2021)

Statutes cited (2)

companies act, 213 (2013)
companies act (2013)

Full text

solid underline = linked page · dashed underline = case is in our corpus, page not published yet · dotted red = recognized reference, not in our corpus

Show all Body

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ LPA 189/2019 & CM APPL.12577/2019

ALCHEMIST INFRA REALTY LTD ..... Appellant Through: Mr. Rajiv Nayar, Sr. Adv. with Mr.Darpan Wadhwa, Sr. Adv. with Mr. Saurabh Seth, Ms. Sonia Dube, Mr. S. Chakraborty & Mr.Anurag Singh, Advs. Through: Mr. Rajiv Nayar, Sr. Adv. with Mr.Darpan Wadhwa, Sr. Adv. with Mr. Saurabh Seth, Ms. Sonia Dube, Mr. S. Chakraborty & Mr.Anurag Singh, Advs.

versus

UNION OF INDIA & ORS ..... Respondents

Through: Mr. Jasmeet Singh, CGSC for R-1 to R-4 R-4

CORAM:HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE ANUP JAIRAM BHAMBHANI O R R% 18.03.2019

Having heard the learned counsel for the parties, we find that in the order passed by the learned writ Court the direction issued is to cause an inquiry in the matter and proceed in accordance with law on the ground that before taking the impugned action petitioners were not heard.

Our attention is invited by Mr. Rajiv Nayar, learned Senior Advocate to the provisions of sub-Section 16 of Section 213 of the Companies Act, 2013 which reads as under:

“(16) Notwithstanding anything contained in this Act, any investigation or other action taken or initiated by Serious Fraud Investigation Office under the provisions of the Companies Act, 1956 (1 of 1956) shall continue to be proceeded with under that Act as if this Act had not been passed.”

LPA 189/2019

According to Mr. Rajiv Nayar, learned Senior Advocate, by virtue of the aforesaid provision the inquiry or investigation into the matter has to be in accordance with the provisions of Sections 234 and 235 of the Companies Act, 1956 and not in accordance to the rules or procedure prescribed in the Companies Act, 2013. We see much force in the aforesaid contention.

We, therefore, clarify and direct that an inquiry be held in pursuance to the direction issued by the learned writ Court strictly in compliance with the provisions contemplated under the Companies Act, 1956. The parties may raise all objections as may be permissible with the statutory authority causing an inquiry into the matter under the Companies Act, 1956 in pursuance to the communication or the complaints received.

In view of the above, the appeal and the pending application stand disposed of.

CHIEF JUSTICE

MARCH 18, 2019/ns

ANUP JAIRAM BHAMBHANI, J