JUDGMENT

(Prayer: Writ Petitions filed under Article 226 of the Constitution of India praying this Court to issue a writ of certiorari calling for the records of the 1st respondent in relation to the impugned order No.SDE/SRO/CEZO-I/02/2020 (SK) dated 04.03.2020 and quash the same as being arbitrary and illegal.)

1. Assailing the impugned order in and by which the 1st respondent had imposed a penalty on the Directors of the Company and also on the company, the present writ petitions have been filed questioning the said order on the main plea that it is beyond the jurisdiction of the 1st respondent.

2. The narrative of the case of the petitioners, shorn of unnecessary details, is culled out hereunder :-

Shriram Holdings (Madras) Pvt. Ltd. (for short ‘SHMPL’) was incorporated and functioned primarily as a holding company, which held shares and investments in various entities under the umbrella of the Shriram Group. This included inter alia shares held by SHMPL in other entities of the Shriram Investments Ltd. (for short ‘SIL’) and Shriram Overseas Finance Ltd. (for short ‘SOFL’), whi