415

IN THE NATIONAL COMPANY LAW TRIBUNAL

DIVISION BENCH (COURT– I) CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 24.01.2025 THROUGH VIDEO CONFERENCING

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PRESENT: HON’BLE SHRI. SANJIV JAIN, MEMBER (JUDICIAL)

HON’BLE SHRI. VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL

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IN THE MATTER OF : Union of India Through Serious Fraud

Investigation Office

Vs

Surana Industries Ltd and 95 Ors

MAIN PETITION NUMBER : CP(CA)/125(CHE)/2022

(IA/MA) APPLICATION NUMBERS

IA(CA)/129(CHE)/2024; IA/62(CHE)/2023

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ORDER IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI IA(CA)/129(CHE)/2024 in IA(CA)/29(CHE)/2023 in CP/125(CHE)2022 In the matter of Surana Industries Limited K. Ramlal Kawarlal Jain Proprietor of M/s. Kawarlal & Co.

IA(CA)/129(CHE)/2024

Present: None for the Applicant.

Ld. Counsel Ms. Lekha Sowjanya for the Respondent.

Vide separate order pronounced in Open Court, the application is

dismissed.

IA/62(CHE)/2023

Present: None for the Applicant.

Ld. Counsel Ms. Lekha Sowjanya for the Respondent.

Vide separate order pronounced in Open Court, the application is

dismissed.

Sd/- Sd/-

(VENKATARAMAN SUBRAMANIAM) (SANJIV JAIN) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

MG

No.28, Raghunayakulu Street, Park Town, Chennai – 600 003 …Applicant / Respondent No.34 -Vs-

Union of India Through SFIO, Ministry of Corporate Affairs, Rep. by Shri N.M. Mahesh Kumar, Senior Assistant Director, SFIO, Office No. 29, Rajaji Salai, Ground Floor, Corporate Bhavan, Chennai – 600 001.

…Respondent / Petitioner Order Pronounced on 24th January 2025 CORAM SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

For Applicant : S. Baskaran, Advocate For Respondent : B. Mohan, Advocate

O R D E R

(Heard through hybrid mode)

This Application has been filed by the Applicant seeking interim relief as follows:

(i) to modify the order dated 11.06.2024 made in LA.No.29/2023 in CP No.125/2022, only to the extent of allowing to operate all the above said six Cash Credit Fixed Deposit Accounts, viz., (1) 332403230001891 (2) 332403230001893 (3) 332403230001896 (4) 332403230001948 (5) 332403230002002(6) 332403230002007maintained with their bankers, Union Bank of India, Sowcarpet Branch, Chennai, without imposing any condition and to pass such other orders as this Hon’ble Tribunal deem fit and proper in the given facts and circumstances of the case and thus render justice.

2. Vide order dated 17.11.2022 this Tribunal in CP/125(CHE)/2022 has passed an interim order attaching various bank accounts and properties of the Applicant herein.

3. Thereafter, IA/1/2023 was filed by the applicant seeking for a direction to operate the bank accounts marked as Annexure XIII to XXVII, reflecting the various payments made, concerning the business transaction of the applicant, including the payment of property loan, car loan, import and export payments, local purchase and sales payments, Income Tax and GST payments and the salary, coolie/wages, as well as other expenses connected with the operation of the applicant business and other miscellaneous expenses connected with the applicant’s business. This Tribunal vide order dated 07.03.2023, permitted the operation of (i) Cash Credit Account No.332405040000179 (ii) Vehicle Loan Account No.332406520001173 and (iii) Another Vehicle Loan Account No.332406520001174.

4. It is stated that the proprietorship concern owned by them, viz., M/s.Kawarlal & Co., is a standalone concern and not associated with the Surana Group of Companies or in any way involved in any siphoning of activities as alleged by the Respondent/SFIO and it is clearly evident that the Applicant/Respondent No.34 is a separate entity and in no way is connected or controll