ROHAN MEHTA Vs. V K SHARMA

JUDGEMENT

(1.) ON 05th June, 1998, this Court while issuing notice in the winding up petition at the instance of the Reserve Bank of India had appointed a Provisional Liquidator in respect of M/s. JVG Finance Limited, M/s. JVG Leasing Limited and M/s. JVG Securities Limited. Later on, a Provisional Liquidator was appointed on 08th March, 2001 with respect to M/s. JVG Departmental Stores Limited.

(2.) ON a report submitted by the Registrar of Companies, Delhi and Haryana, New Delhi, under Section 234 of the Companies Act, 1956 (for short ,,Act), the Central Government, Ministry of Corporate Affairs had ordered an investigation into the affairs of JVG Finance Limited under Section 235 of the Act by order dated 30th July, 2007. The investigation had been ordered by the Central Government in order to facilitate filing of misfeasance application against the ex- management under Section 542/543 of the Act by the Official Liquidator, if necessary.

(3.) SINCE the report was voluminous, the Court requested the concerned officers of SFIO team for a presentation of the report in the open court after directing the Official Liquidator to inform all the parties / stakeholder / counsels to remain present. In fact, a note to the said effect was published in the daily cause list.