- (1.) The appeal is directed against the judgement and order dated 25th November, 2014 in W.P. No. 28728 (W) of 2014 whereby the learned Single Judge, inter alia, refused to quash impugned notice dated 19.09.2014 issued by respondent no. 3 to the respondent banks to prohibit/freeze the withdrawal from the accounts maintained in the branches of the said banks by the appellant no. 1 Group of Companies.
(2.) The factual matrix giving rise to the instant appeal is as follows :-
(3.) The appellant no. 1 is a Public Limited Company which belongs to Rose Valley Group of Companies. The appellant no. 1 Company had collected a sum of Rs. 12.82 crores by issuing non-convertible debentures from members of the public during the year 2001-02, 2004-05, 2005-06 and 2007-08 without filing proper documents either to Register of Companies or SEBI.;