UNITECH LIMITED Vs. SANJAY KUMAR THAKRAN

JUDGEMENT

(1.) The above detailed 7 first appeals against orders dtd. 1/9/2021 having been passed by the Court of learned Additional Sessions Judge, Gurugram dismissing the applications of the appellant Company Unitech Limited (hereinafter referred to the 'appellant/company1) whereby the appellant company had sought with the aid of Sec. 12 of theHaryana Protection of Interest of Depositors in Financial Establishment Act 2013 ( in short "the Act1) seeking prayer by way of acceptance of security by the Court in lieu of the property attached by the orders of the District Magistrate Gurugram dtd. 3/1/2017. All these matters having consanguinity of facts and law point arising out of the same transactions can be conveniently disposed off together and would also bring about curbing of prolixity. Upon hearing Mr. Abhinav Sood and Mr. Siddharfh Batra, learned counsel for the appellants and Mr. Munish Mittal, learned counsel for the respondent and on perusal of the records.

(2.) The appellant company was carrying on multifarious commercial activities including building of residential flats, commercial premises etc., as well as running profitable business ventures and had a conglomerate of companies under the umbrella Unitech Limited.

(3.) It was after the general public raised hue and cryover the company's surreptitious acts of defrauding the public who also approached the National Company Law Tribunal way back in December 2017 seeking removal of the existing management of this company and for appointment of nominee directors, the matters have come before the Courts.