J U D G M E N T

MINI PUSHKARNA, J: (ORAL)

CM APPL. 17772/2024 (For Exemption)

1. Exemption allowed, subject to just exceptions.

2. Application is disposed of.

W.P.(C) 4340/2024 & CM APPL. 17773/2024

3. The present petition has been filed seeking quashing of the declaration of the account of M/s Delhi Control Devices Pvt. Ltd., i.e., respondent no. 6- company, as a „Fraud‟ account vide separate declarations by respondent nos.

1 to 5.

4. Learned counsel appearing for the petitioner submits that the account of the respondent no. 6 was declared as „Fraud‟ by respondent no. 2 on 29th July, 2020 and by respondent no. 1 on 29th May, 2021. He further submits that respondent nos. 3 to 5 have also declared the account of respondent no. 6-company as „Fraud‟ account, however, the decisions with regard thereto have not been communicated to the petitioners till date.

5. Learned counsel appearing for the petitioners submits that the petitioners were the ex-directors of the respondent no. 6-company. The company had availed of various credit facilities from respondent nos. 1 to 5 under consortium agreement.

6. It is submitted that as per the allegations in the complaint filed with the Central Bureau of Inves