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Prayagraj, 30 September (HS). Allahabad High Court has ordered Shine City Infra Project Pvt. Ltd. At present, it has refused to provide any relief to 202 investors of the company. The court said that it is doubtful whether any proceedings are going on in the special court or not, its detailed information is not available.
The court said that it would be appropriate to ask the Enforcement Directorate for testing before giving the final order and directed the Director ED, New Delhi, to conduct the test in view of the court's observations and file the personal affidavit of the senior officer. The hearing of the petition will take place on October 21.
This order has been given by the division bench of Justice Ashwani Kumar Mishra and Justice Dr. Gautam Chaudhary while hearing the petition of Amit Kumar Gautam and 201 investors. Manoj Kumar Singh on behalf of ED and Sanjay Yadav on behalf of CBI presented the petition on the petition. The petitioners say that by the order of 1 July 24, the High Court has given permission to those who have invested in the company to take recovery action. Similar order should be given to the petitioners also.
The court said that there is doubt on the maintainability of the petition and whether the court can grant the relief sought or not. The court clearly said that the petitioners are investors of the company. They have come to the court demanding recovery of the invested amount along with 18 percent interest. The court cannot direct to consider such claims. They can approach the appropriate forum. In this, there are allegations of crime of money laundering, investment abroad through hawala and crypto currency.
The court said that more than 454 FIRs have been registered against the company in the entire state. ED has also seized the properties of the company directors. Money has been invested in countries like Dubai etc. through Hawala. There is no detailed account of the investments of the petitioners. It is also not clear what the nature of the investment is. Therefore, the court cannot order action to recover their investment.
