Form No. J(2)

IN THE HIGH COURT AT CALCUTTA CRIMINAL REVISIONAL JURISDICTION Present:

The Hon’ble Justice Jay Sengupta C.R.R. 1495 of 2025 Swapan Sadhukhan & another.

-vs-

State of West Bengal & another.

For the Petitioners : Mr. Ranjan Kali Ms. Mitul Chakraborty Ms. Payel Nath For the SEBI : Mr. Rajib Ray Mr. Debashis Halder Heard on : 14.05.2025 Judgment on : 14.05.2025 Jay Sengupta, J.:

This is an application, inter alia, praying for setting aside of the order dated 05.02.2025 passed by the learned Session Judge, 5th Special Court, Calcutta in connection with WTM/PS/ERO/64/JAN/2018 and praying for discharge of the petitioners from the instant case.

Learned counsel appearing on behalf of the petitioners submits as follows. The petitioners were not the Directors of the Company in question at the relevant time i.e., for the years 2011-2012 and 2012- 2013. There is no specific allegation made against the present petitioners. There is no basis on which the petitioners had been proceeded against. All the points taken up by the petitioners in the discharge application have not been considered by the learned trial Court. A recovery proceeding is pending. As such, the learned trial Court should