Bombay HC grants temporary relief to Naresh and Anita Goyal, seeks SBI’s reply in two weeks
A division bench of the HC was hearing two seperate pleas challenging the decision on the grounds that they were neither served show-cause notice nor heard by the bank.
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Jet Airways founder Naresh Goyal. (File)In a temporary relief to erstwhile promoters of Jet Airways Naresh Goyal and his wife Anita Goyal, the Bombay High Court on Wednesday directed the State Bank of India (SBI) not to take any further steps against the couple under the criminal laws until further orders.
The Court has asked SBI to file a reply within two weeks to Goyals’ plea challenging SBI decision to club them with the airline in the list of ‘fraud accounts’ under the RBI master circular.
A division bench of Justice Sanjay V Gangapurwala and Justice Madhav J Jamdar was hearing two seperate pleas challenging the decision on the grounds that they were neither served show-cause notice nor heard by the bank.
The Goyals, who were neither guarantors or direct borrowers had moved HC apprehending criminal proceedings against them, claiming the same would put them under lenses of the government agencies.
After SBI’s counsel sought time to reply to the pleas, senior advocates Milind Sathe and Navroz Seervai instructed by law firm Naik Naik & Co for petitioners insisted that no further steps be taken by the respondents till the next hearing. The lawyers referred to decisions of Telangana Hc, Supreme Court and Bombay HC where interim reliefs were granted in similar matters.
The Court accepted the same and granted SBI two weeks to file reply to the pleas and meanwhile directed the respondents not to take any further steps pursuant to the order under criminal law.
On June 22, last year, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for revival of the defunct airline. The successful bidder had proposed a total cash flow of Rs. 1,375 crore for Jet Airways revival.
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