DINESH JAJODIA Vs. CITI BANK & ORS

JUDGEMENT

(1.) The submissions of the learned Counsel appearing for the parties were heard yesterday. This Appeal takes exception to the order dated 22nd December 2015 passed by the learned Company Judge in Company Petition filed by the HDFC Bank Limited. The operative part of the impugned order is in paragraph 7, which reads thus :

(2.) We must note here that a preliminary objection raised by the learned Counsel appearing for 1st Respondent is that the impugned order dated 22nd December 2015 is not a Judgment within the meaning of the Letters Patent. The objection is that on the basis of earlier orders passed by the learned Company Judge from time to time starting from the order dated 8th May 2015, all that the learned Company Judge has done is to direct the Securities and Exchange Board of India ("SEBI") and the Enforcement Directorate to take action against the Directors of the Company under winding up (M/s. Geodesic Limited) and the present Appellant in accordance with law. The submission is that in view of the law laid down in the Apex Court in the well known decision in the case of Shah Babulal Khimji Vs. Jayaben D. Kania & Anr., 1981 4 SCC 8, the Appeal is not maintainable.

(3.) The learned Senior Counsel appearing for the Appellant has taken us through earlier orders passed by the learned Company Judge from time to time. His first submission is that the impugned order is a Judgment within the meaning of the Letters Patent inasmuch as the order is virtually a final order directing a very stringent action to be taken against the present Appellant and others. Inviting our attention to the order of the learned Magistrate by which the bail was denied to the Appellant, he urged that the learned Magistrate has been influenced by the conclusions drawn by the learned Company Judge and in particular in the impugned order. His next submission is that the impugned order has been passed in breach of the principles of natural justice as no opportunity of being heard was afforded to the Appellant by the learned Company Judge.