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University is directed to pass appropriate orders reinstating the petitioners with effect from the respective dates the petitioners were retired from service, along with consequential benefits, THE HONOURABLE MR.JUSTICE V.PARTHIBAN W.P. Nos.17918 and 17929 of 2021 W.P.No.17918 of 2021
by Sekar Reporter · Published April 12, 2022
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https://youtu.be/XgLvsUq_LQY
by Sekar Reporter · Published November 3, 2023
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Full order of quashing FIR. THE HONOURABLE MR. JUSTICE M.DHANDAPANI ┬а CRL. O.P. NOS. 3730, 4227, 4095 & 11206 OF 2021 CRL. M.P. NOS. 6647, 6649, 2218, 2601, 2679, 3388, 6708 & 6709 OF 2021 W.P. NO. 1397 OF 2021 AND W.M.P. NO. 5917 OF 2021 country, which has resulted in the Central Government interfering in the administration of IL & FS and its group companies by filing petition before NCLT for reconstitution of the Board, which was been discussed above. The various orders passed by the Tribunal at the interference of the Central Government clearly show that all is not well with IL & FS and its group companies and also the persons, who were manning the said companies, of which the petitioners also formed a part then. Though the petitioners had come out of the post of Directors, it is not to be forgotten that the action by the Central Government in filing petition before the NCLT and ordering of investigation by SFIO clearly show the economic imbalance which the group companies had created in derailing the economy of the country.┬а Finding has been rendered by NCLT that the petitioners were within the Committee of Directors who were at the helm of affairs in running IL & FS and its group companies.┬а This Court, by quashing the case relating to TNPID Act, by no stretch, is giving a clean chit to the petitioners herein, as persons who are beyond a pale of doubt.┬а This Court has only quashed the case against the petitioners on the ground that the investigation under the TNPID Act by the 1st respondent is not sustainable for the reasons and discussions aforesaid. ┬а The petitioners, as the Committee of Directors, have created a economic crisis for the whole group of companies and the persons, who were shareholders in the said companies. It is the assertion of the intervenors that the petitioners have siphoned off huge sums of money, in the form of salary and perquisites by holding the post of Directors and with the aid of it, had purchased very many immovable properties across the globe. The intervenors also submitted through their oral arguments certain materials, which the intervenors claim are properties purchased by the petitioners in many of the foreign countries.┬а However, this Court is not entering into the said domain to find out the truth or otherwise in the said submissions.┬а It is borne out by record that investigation has been assigned to SFIO by the Central Government and that SFIO is seized of the matter and investigation is being carried out by SFIO.┬а As already pointed out above, the jurisdiction of the SFIO is vast and SFIO is clothed with powers to investigate into matters not only related to the Companies Act, but concerning any law, be it enacted by the State or the Central Government, so long as there seems to be an infraction of the said law.┬а┬а Such being the case, the intervenors, if in possession of information, which would be valuable to SFIO in their on-going investigation, could very well provide the information available with them relating to the immovable properties, which are alleged to be held by the petitioners, which, according to the submission of the intervenors are the result of the siphoning off money from the group companies to enrich themselves and any additional material provided by the intervenors would be a material on which SFIO could investigate and try to find the truth and veracity of the very many transactions.
by Sekar Reporter · Published September 1, 2021