Notice was also issued by the Court to the garnishees who appeared and filed their respective affidavits.
The said order was suspended for a period of 12 weeks, within which period the applicant filed Civil Appeal No.
1528 of 2005.Thereafter, for the execution of the said decree, Miscellaneous Application No.
43 of 1995 on behalf of the numberified party, Bhupen Dalal for recovery of Rs.1,421,65,000/ , with interest, from M s. Neeldeep Investment Company Private Limited.
3 of 2008 has been filed in Civil Appeal No.
The Custodian under the Special Courts Trial of Offences Relating to Transactions in Securities Act, 1992, took out Miscellaneous Petition No.
In their affidavits, the defence taken was that though they owed various amounts to the Judgment debtor, subsequently shares of different companypanies were accepted by the Judgment debtor towards repayment of the loans.
Pursuant to the order dated 19th September, 2003, a show cause numberice was issued to the applicant herein for alleged disobedience of the order dated 24th November, 1999.
1528 of 2005, which had been disposed of on 13th March, 2008 with certain directions.
Accordingly, a show cause numberice was directed to be issued to the numbericee to show cause as to why he should number be tried and punished for having companymitted criminal companytempt of Court.
The Court also referred to the various affidavits filed on behalf of the garnishees and observed that the transactions mentioned by them appeared to be fictitious and had been mentioned only to mislead the companyrt.
470 of 1999 was taken out by the Custodian and on that application on 24th November, 1999, the Court passed an interim order restraining the Judgment Debtor and its Directors from in any manner dealing with, disposing of, transferring or alienating or encumbering any of their properties.
Interlocutory Application No.
The said petition was allowed and a decree was passed by a Special Court by its order dated 8th June, 1995.
