SACHIN SEN MANCHANDA Vs. GOLDEN PROJECTS LTD

JUDGEMENT

(1.) PRESENT suit has been filed for the following prayers : -

(2.) THE Supreme Court in cases filed by the investors of Golden Forests (India) Ltd., the parent company of defendant no. 1 has not only appointed a Committee Golden Forests (India) Limited (hereinafter referred to as 'Committee') to take over possession of properties owned by the parent company as well as its subsidiaries, but has also directed that any sale/settlement made after restraint order passed by the Bombay High Court on 23rd November, 1998 would not be valid unless approved by the Committee.

(3.) SINCE admittedly in the present case the buyback agreement dated 29th March, 2007 allegedly executed between the plaintiffs and defendant No.1 has not been approved by the Committee constituted by the Supreme Court and the impugned agreement has been executed after the cut -off date of 23rd November, 1998, this Court is of the view that prayers (a), (d) and (e) cannot be entertained.