The high court had set up a three-member committee for valuating and sale of encumbered assets of HDIL to expeditiously recover dues payable by the firm to PMC bank.
The
Supreme Court on Thursday partially stayed the Bombay High Court
order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang
Wadhawan, accused in the multi-crore Punjab & Maharashtra
Cooperative (PMC) Bank scam case, from Mumbai's Arthur Road Jail to
their residence.
A
bench comprising Chief Justice S A Bobe and justices B R Gavai and
Surya Kant took note of the submissions of Solicitor General Tushar
Mehta that the high court order to the extent of allowing their
release from prison needed to be stayed.
The
law officer said the other aspect of the high court order such as
sale of assets of the accused promoters under the supervision of high
court appointed committee should be allowed to remain operative and
the sole objection was with regard to their release from Arthur road
jail.
The
top court agreed with the submissions.
Earlier
during the day the apex court had agreed to consider the plea of
enforcement agencies against the high court order to release them
from jail and keeping them in their residence under the constant
watch of prison guards.
Mehta
mentioned before the bench that the PMC
bank scam involved Rs 7000 crore and the high court had on
Wednesday passed a very "unusual order" while hearing a
public interest litigation (PIL).
Mehta
told the bench that the father-son are presently lodged under Arthur
Road jail in judicial custody and if they are shifted to their
residence as per the high court's order, it would be like bail to
them.
The
high court had on Wednesday set up a three-member committee for
valuating and sale of encumbered assets of Housing
Development and Infrastructure Limited (HDIL) to expeditiously
recover dues payable by the firm to PMC bank.
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