ARVIND MOHAN JOHARI Vs. STATE OF U P

JUDGEMENT

(1.) These applications have been filed for clarification and/or recalling an order dated 3.11.2004 passed by this Court in Criminal Appeal Nos. 1265 -66 of 2004 whereby and whereunder the respective applicants were directed to deposit the money lying in the credit of the appellants herein.

(2.) The said applications have been filed in the following circumstances. The appellants floated various groups of companies including one known as 'M/s Century Consultants Ltd.' Two criminal cases were initiated against them arising out FIR No. R. C. No. 8(S)/2001 to R. C. No. 12(S) of 2001/CBI, Lucknow dated 6.7.2001 and R.C. No. 15(S)/2001 to R.C. No. 18(S)/2001/CBI, Lucknow dated 6.7.2001; one relating to transactions in respect of M/s Country Inform Tech Pvt. Ltd. and another in relation to M/s Century Consultants Ltd. M/s Century Consultants Ltd. has since been directed to be wound up in a winding up proceeding by the learned Company Judge.

(3.) In the aforementioned criminal proceedings, the appellants prayed for grant of bail which was rejected whereagainst these appeals were preferred. The appellants before us had contended that they would have no objection if the assets held and possessed by them are sold for payment to the depositors of M/s Century Consultants and M/s City Cooperative Bank Ltd. It was contended that the amounts of Rs. 17 Crores and Rs. 13 Crores were lying with the Bombay Stock Exchange and National Stock Exchange respectively. It was further urged that the amounts lying with the Stock Exchanges stand admitted in their written statements filed in Civil Suit No. 312 of 2002.