Jermyn Capital LLC Dubai vs Central Bureau of Investigation

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(SC) 491

KRISHNA MURARI, SANJAY KUMAR
Jermyn Capital LLC Dubai – Appellant
Versus
Central Bureau of Investigation – Respondent

Advocates appeared:
For the Petitioner(s): Mr. Sunil Fernandes, AOR Ms. Nupur Kumar, Adv. Ms. Priyansha Sharma, Adv. Mr. Divyansh Tiwari, Adv. Ms. Diksha Dadu, Adv.
For the Respondent(s) Mr. K.M. Nataraj, ASG Mrs. Aishwarya Bhati, ASG Mr. Sharath Nambiar, Adv. Mr. Vatsal Joshi, adv. Mr. Vinayak Sharma, Adv. Indira Bhakar, Adv. Mr. Anuj S. Udupa, Adv. Mr. Nakul Chengappa, Adv. Mr. Chithransh Sharma, Adv. Mr. Anukalp Jain, Adv. Mr. Padmesh Mishra, Adv. Mr. Yuvraj Sharma, Adv. Mr. Akshay Nain, Adv. Mr. Arvind Kumar Sharma, AOR Ms. Swati Ghildiyal, AOR Ms. Devyani Bhatt, Adv. M/s. K J John And Co, AOR

JUDGMENT

Krishna Murari, J.

Leave Granted.

2. The present Appeal is directed against the judgment and final order dated 16.08.2018 passed by the High Court of Gujarat at Ahmedabad, (hereinafter referred to as “High Court”) in Criminal Application No. 602 of 2013.

FACTS

3. The brief facts relevant for the purpose of the present appeal are that the appellant company is a Foreign Institutional Investor and was permitted by Securities and Exchange Board of India (for short ‘SEBI’) to buy and sell shares and securities in the Indian Stock Market. However, due to certain litigations, the appellant company had quit trading in the Indian markets in 2006. It is important to note that at this point, the appellant company had shares and money in its bank account with ICICI bank.

4. Subsequently, the appellant company was subject to two freeze orders under Section 102 of the Code of Criminal Procedure, 1973. The first freeze order was imposed against the appellant company on 20.10.2006, and the second freeze order was imposed on 17.08.2010. These abovementioned freeze orders, as has been discussed in detail below, were levied against the appellant company on grounds of necessity of investigation of

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2023 Supreme(SC) 491

KRISHNA MURARI, SANJAY KUMARJermyn Capital LLC Dubai – AppellantVersusCentral Bureau of Investigation – Respondent

KRISHNA MURARI, SANJAY KUMAR
Jermyn Capital LLC Dubai – Appellant
Versus
Central Bureau of Investigation – Respondent