M/S.Siddarth Chemicals Corporation Rep.By Its Managing Partner, v. M/S.Tanfac Industries, Rep.By Its Secretary Mr.G.Balasubramaniam,
I.P.No.11 of 2019 and A.Nos.123, 156, 166 & 199 of 2019, 33 of 2020, 23, 48 of 2022, 66, 139, 172, 250, 109 to 116 of 2023, 250 of 2023, 16, 17, 76, 90, 119, 120 of 2024 KRISHNAN RAMASAMY, J.
The learned Additional Public Prosecutor for EOW has filed a status report dated 29.04.2024, wherein, the Deputy Superintendent of Police has furnished the various details including the seizure of gold. Further, in the report, it is stated that about 10095.30 grams of gold is yet to be recovered from three branches of Muthoot Finance. Further, the learned Additional Public Prosecutor would submit that, the gold will be deposited to the Official Assignee on or before 10.05.2024.
2. As far as FED Bank is concerned, FED Bank has deposited 1375.7 grams of gold with the Official Assignee on 26.04.2024, as per the order dated 15.04.2024, and the Official Assignee also confirms the same.
3. The other request made by the FED Bank, in respect of furnishing of Bank Guarantee for the amount of gold already auctioned by the FED Bank, will be considered on the next date of hearing. 1/3
4. Mr.M.S.Krishnan, learned Senior counsel submits that he has filed applications in A.Nos.16 & 17 of 2024 and the service of notice would be effected before the next hearing date. Hence, the said applications will be considered on the next date of hearing. Therefore, list these matters for orders on 10.06.2024.
5. In the meantime, the EOW is directed to take earnest efforts in respect of recovery of gold, which were auctioned and also to comply with the other directions issued by this Court from time to time.
6. The Insolvent is also directed to furnish the details of the gold to the extent of about 280.452 kgs of gold, where it has been pledged with various Banks, financial companies etc.
Post this matter on 10.06.2024.
30.04.2024 Index:Yes/No Web:Yes/No jd 2/3
KRISHNAN RAMASAMY.J jd I.P.No.11 of 2019 and A.Nos.123, 156, 166 & 199 of 2019, 33 of 2020, 23, 48 of 2022, 66, 139, 172, 250, 109 to 116 of 2023, 250 of 2023, 16, 17, 76, 90, 119, 120 of 2024 30.04.2024 3/3