NATIONAL COMPANY LAW TRIBUNAL,

MUMBAI BENCH COURT IV

Item No. 36

COMP.APPL/ 323(MB)2024 COMP.APPL /343(MB)2024 IN

CP/01(MB)2023

CORAM:

SHRI ANIL RAJ CHELLAN SHRI K. R. SAJI KUMAR

HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF HEARING (HYBRID) DATED 24.06.2025

NAME OF THE PARTIES: Union of India Through SFIO

Vs

Belgium Aluminium & Glass

Industries private Limited

For Petitioner: Adv. M. S. Bhardwaj & Ms. Reeta Assistant Director (SFIO)

For Applicant IN

COMP.APPL/ 323(MB)2024: Adv Shwetaank k Nigam

COMP.APPL /343(MB)2024: Adv. Ashish Pyasi a/w Adv Anjali Shahi i/b

Aendri Legal

For Respondent IN

COMP.APPL/ 323(MB)2024 & COMP.APPL /343(MB)2024: Adv. M. S.

Bhardwaj & Ms. Reeta Assistant Director (SFIO)

Sections 241(2), 246 & 339 of the Companies Act r/w Rule 11 of NCLT

Rules

_________________________________________________________________________

ORDER

COMP.APPL/ 323(MB)2024

1. The present application has been filed by the Applicant against the act

of Respondent-1/Bank to freeze the bank accounts bearing Nos.

054405008863 and 054405008892 (said Bank Accounts).

2. The Applicant is a joint venture formed between HCC Ltd. (HCC) and

Alfara’s Infraprojects Pvt. Ltd. (AIPL) under a Joint Venture Agr