TOWER INFOTECH LTD. Vs. UNION OF INDIA

JUDGEMENT

(1.) IT is suggested on behalf of the Securities and Exchange Board of India that a chartered accountant be appointed to look into the deposits obtained by the petitioner company before the SEBI approves the final list and determines the mode of payment. Accordingly, Mr. Sushil Sharma, CA, of 16, India Exchange Place, Kolkata (Mobile No. 91631 14930) is appointed for the purpose of identifying the depositors who have put in deposits with the petitioner company and the quantum of the deposits. A comprehensive list should be attempted to be completed by the chartered accountant in consultation with the SEBI, Kolkata office before the matter appears next on October 7, 2013. The company and its directors will extend all cooperation to the chartered accountant. It is submitted on behalf of the petitioners that the principal person in control of the petitioner is one Ramendu Chattopadhyay.

(2.) THE chartered accountant will be paid an initial remuneration of Rs. 1 lakh by the principal person in control of the petitioner company.

(3.) THERE will also be an order of injunction restraining the petitioners whether by themselves or by their servants or agents or assigns or otherwise whatsoever, from dealing with or disposing of or alienating or encumbering or parting with possession or creating any third party rights in respect of any of the immovable properties of the petitioner company in any manner whatsoever.