ANANT KAJARE Vs. EKNATH AHER & ANR

JUDGEMENT

(1.) Ia NO. 104710/2018

(2.) Shri C.U. Singh, learned senior counsel appearing these two I.As. at present will take instructions on whether his clients will buyout shares held by the two Goenkas and their associate companies.

(3.) Shri Neeraj Kishan Kaul, learned senior counsel appearing in these I.As has pointed out an interim forensic report of Deloitte dated 10th Dec., 2018 in which prima facie circular trading has been found to the extent of 25 crores out of 232 crores. Shri Kaul says that affidavits by way of undertakings will be filed by Director, IDFC Real Estates Yield Fund, on behalf of IDFC Real Estates Yield Fund, in which it is made clear that any amount that is ultimately found by this Court to be linked to any of the companies and associate companies and sister companies of the two Goenkas Om Parkash Goenka and his son, upto 232 crores will be paid over to this Court. The money that may be realised on sale of flats may further be used by IDFC subject to this undertaking. The attachment of this project will be lifted.