NPR FINANCE LTD. Vs. DEEPAK JHUNJHUNWALA

JUDGEMENT

(1.) In this proceeding, the decree-holder has questioned various transactions entered into by the judgment-debtor with 29 companies LLPs. On 21st March 2017, on the basis of the affidavit disclosed, this court formed a prima facie opinion that the judgment-debtor was having substantial interest in the following companies:-

(2.) The apprehension of the petitioner is that such transfers are fraudulent having regard to both as to the timing and the persons involved in such transactions. It gives a prima facie impression that such transfers are fraudulent. The aforesaid companies and/or entities were refrained from dealing with the movable and immovable properties without the leave of this Court. Having regard to the past conduct of the judgment-debtor, the decree- holder has prayed for a public notice to be issued so that a plea may not be raised at a later point of time by any purchaser that he is a purchaser for value without notice.

(3.) Under such circumstances, leave is given to the petitioner to publish in leading newspapers the following order:-