CBI starts investigation of former acting President NCLT

The working style of NCLT has come under scanner after the CBI started an inquiry against its former chairman. The case pertains to giving wrongful advantage to the accused in a fraud of about Rs.100 crores. In this case, CBI has also made two other members of NCLT as accused. Surprisingly, one of them is still hearing cases in the Ahmedabad branch of NCLT.

This is the matter

A company named Montirox Resort had accused of cheating in its hotel and real estate project worth Rs 300 crore. It was alleged that Vikram Bakshi, the partner of the company, had fraudulently transferred assets worth about Rs 100 crore to his associate Rajeev Puri. Vikram Bakshi has also been an Indian partner of McDONALD. The hearing of this case was going on in NCLT. The company had appealed to NCLAT regarding an application pending continuously for many years. Under which NCLAT ordered NCLT on 16 March 2020 that this application should be disposed of in 2 weeks.

Allegations of wrongdoing

According to the preliminary inquiry initiated by the CBI, the matter was being heard in NCLT by a bench of judicial member Deepti Mukesh and technical member Hemant Sarangi. But this bench came to an end in May 2020 and Hemant Sarangi was transfered to principal bench with the chairman. A member Sumita Purkayastha along with Deepti Mukesh became the new bench. So, now the case was to be heard in this bench. But surprisingly on September 09, the company’s case was placed in front of the bench of Deepti Mukesh and Hemant Sarangi. But this bench was already dissolved.

Actions of dissolved bench

In fact, the bench of Deepti Mukesh and Hemant Sarangi also ignored the order of NCLAT to settle the case in 2 weeks and fixed date after three weeks. When it was heard after three weeks, Vikram Bakshi applied under section 08 and demanded to be sent for arbitration. In this case, more than a dozen dates were taken, but the decision was not pronounced. In the meantime, the owners of Montirox Resort got suspicious, so they started checking old office orders of NCLT. Then in February 2021, he came to know that the bench of Deepti Mukesh and Hemant Sarangi hearing his case had ended in May 2020. This was the reason that on March 04, 2021, Montirox Resort told the bench that it could not hear the matter. Therefore, the case of this violation in NCLT should be sent before the Principal Bench.

Principal Bench becomes also accused

When the matter reached before the Principal Bench headed by BSV Prakash Kumar for hearing, he set 3 dates and after the fourth date reserved the decision by writing that the matter has been heard. But on this date of 01 April 2021, neither anyone’s statement was heard nor was recorded. Not only this, neither any notice was issued in this matter nor anyone’s reply was taken on record. Prakash Kumar listed the case on May 28, 2021 for Order pronouncement on May 31 at 3 pm.

The act of the accused bench

When the Principal Bench listed the matter on May 28, to decide on May 31 at 3 pm, whether the bench of Deepti Mukesh and Hemant Sarangi could hear the case or not. But knowing this, at 11:30 pm on Sunday, May 30, the accused bench also issued an order to hear the application of Section 08 at 3 ‘o’clock same afternoon of May 31.

Mockery of the judicial system

Surprisingly, the bench of Deepti Mukesh and Hemant Sarangi, whose decision was yet to come, approved Vikram Bakshi’s section 08 application even before the order of Principal branch. While it was not clarified in the application that which parties were applied for arbitration. Because the number of petitioners in this case was six and that of the defendants was 42. After the verdict of the disputed bench, BSV Prakash Kumar also passed order in favor of the disbanded bench of Deepti Mukesh and Hemant Sarangi ignoring the fact that he gave his order after them at 03:35 pm.

How was it revealed

In fact, Vikram Bakshi, who was trying to take the matter for arbitration, did not mention the parties in the application whom he wanted to take for arbitration. For this, on May 31 itself, at 02:38 pm, his lawyer sent a 10-page list of memes of parties by email. In which there were 34 mistakes. It takes at least 15 minutes for the Registry to check and upload lists. After which the work of typing orders is not possible before half an hour under any circumstances. Despite this, the bench of Deepti Mukesh and Hemant Sarangi issued the order at three o’clock. The special thing was that in this order also the same 34 mistakes were present which were in the list of memos of parties sent by the lawyer of the accused Vikram Bakshi.

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CBI started investigation

Montirox Resort’s lawyer Harish Khosla made Bakshi’s 34 mistakes that came in order also the main basis of his complaint against BSV Prakash Kumar, Deepti Mukesh and Hemant Sarangi in the CBI on 19 June 2021. After taking approval of the Ministry of Corporate Affairs, the CBI started the investigation by registering an FIR in this matter. Surprisingly, despite being an accused in the case, Deepti Mukesh is still hearing cases in the Ahmedabad bench of NCLT.