DSQ SOFTWARE LTD Vs. SPECIAL DIRECTOR ENFORCEMENT DIRECTORATE

JUDGEMENT

(1.) SINCE the issues involved in all the four writ petitions are identical, these writ petitions are decided by this common order.

(2.) WHILE the petitioner in W. P. No. 25914 of 2007 is a company registered under the Companies Act, 1956 (hereinafter referred to as "the Company"), the petitioners in the other three writ petitions are individuals, who are none other than the Directors of the Company.

(3.) IN the common additional counter affidavit filed on behalf of the respondents, it is stated that for the purpose of deciding territorial jurisdiction of this Court with reference to the orders in question, the only relevant fact is the minutes of the Allotment Committee of the Company, which met at Mumbai on 20. 05. 2000, which bears the nexus to the orders made by the respondents. It is further stated that the Directors of the company, in order to wriggle out of their liabilities and violations under FERA, have deliberately chosen to put up a false case as if that inasmuch as 90% of value of shares had not been paid by New Vision INvestment Ltd. , U. K. , the initial 10% were forfeited. According to the respondents, the impugned order of the second respondent Appellate Tribunal projects no error of law apparent on the face of record so as to warrant any interference by this Court.