Sandhaya Devi And ORS v. The Union Of India And ORS

IN THE HIGH COURT OF JUDICATURE AT PATNA

Civil Writ Jurisdiction Case No.16422 of 2015 ====================================================== 1.

Sandhaya Devi W/o. Pawan Kumar of South Purnendu Nagar, PO PS Phulwarisharif, District- Patna, 801505 2.

Gyanti Devi, W/o. Ashok Chourasia of Mohalla- Lalji Tola, PO- GPO, Patna. 800001.

3.

Sunil Kumar S/o. Late Umeshwar Mehta of Village- Brahmpur, PO PSPhulwarisharif, District- Patna. 801505 4.

Dahnanjay Singh, S/o Deo Kumar Singh of Village- Karori Chak, POPSPhulwarisharif, District- Patna. 801505 5.

Sheelu Sah W/o. BInod Kumar Sah of Village- Karori Chak, POPSPhulwarisharif, District- Patna. 801505 6.

Amit Mohan S/o Sri Mohan Singh of Village- Brahmapur, POPSPhulwarisharif, District- Patna. 801505 7.

Prabhu Thakur S/o. Manoj Thakur of Adarsh Nagar Colony, Behind ESIC Hospital, POPS- Phulwarisharif, District- Patna. 801505 8.

Amit Kumar S/o Sahtrudhan Singh of Village Ranipur, POPSPhulwarisharif, District- Patna. 801505 9.

Deepak Kumar S/o. Arun Prasad of Village Ranipur, POPS- Phulwarisharif, District- Patna. 801505 10.

Subhash Pandit @ Subash Pandit S/o. Mundrika Pandit of villageHarnichak, PO- Anisabad, PS- Beur, District- Patna-2. ... ... Petitioner/s

Versus

1.

The Union of India through the Secretary, Ministry oif Finance, Central Secretariat, Govt. of India, New Delhi.

2.

The Reserve Bank of India, through its Governor, New Delhi. 3.

The Securities and Exchange Board of Indian through its Chairman, SEBI Bhawan, Plot No. C-4A, G- Block, Bandra, Kurla Complex, Mumbai500051 4.

The Registrar of Companies, 4th Floor IFCI Tower 61, Nehru Place New Delhi- 110019.

5.

The Basil International Limited, A Company registered under companies Act having its Head office at Unit No.213, 2nd Floor, Vardhaman Times Plaza, Delhi 34, through its Director Jayant Kumar Basu. 6.

Susmita Kumar Joint Director, Basil International Limited, Unit No. 213, 2nd Floor, Vardhman Times Plaza, Delhi 34, 7.

Mukul Das, Director, Basil International Limited, Unit No. 213, 2nd Floor, Vardhman Times Plaza, Delhi 34, ... ... Respondent/s ====================================================== Appearance :

Patna High Court CWJC No.16422 of 2015(3) dt.05-09-2024 2/3 For the Petitioner/s :

Mr.Javed Aslam, Adv.

For the UOI :

Mr.Anshay Bahadur Mathur, CGC For the Respondent/s :

Mr.S.D Sanjay Addl. Soc. Gen.

====================================================== CORAM: HONOURABLE MR. JUSTICE MOHIT KUMAR SHAH ORAL ORDER 05-09-2024

1. The present writ petition has been filed seeking the following relief(s):- "1.(I) To return the money taken under different scheme from the General Public as well as Agents under fraudulent schemes without approval of the authorities under statutory redeemable preferences share as well as product card scheme.

(II) To take immediate steps so that the Company may not sell off its assets so as to render impossible any recovery.

(III) To create mechanism for ascertainment of exact dues of the investors and ensure timely return of money with penal interest."

2. Considering the nature of relief sought for in the present writ petition, I deem it fit and proper to grant liberty to the petitioners to avail such other remedies as are otherwise available under the law.

3. At this juncture, the learned counsel for the respondent-Union of India submits that the Securities and Exchange Board of India, has already taken action against the private respondents no.5 to 7.

Patna High Court CWJC No.16422 of 2015(3) dt.05-09-2024 3/3

4. Accordingly, the present writ petition stands disposed off.

(Mohit Kumar Shah, J) sonal/- U