Enbee cheque bounces: HC draws contempt proceedings
TAKING A serious view of dishonouring of a Rs 40-lakh cheque deposited by M/s Enbee Plantation Limited before the High Court?s registry to clear the dues of some depositors (investors), the court has drawn contempt proceedings against two directors of the company.india Updated: Dec 07, 2006 14:52 IST
TAKING A serious view of dishonouring of a Rs 40-lakh cheque deposited by M/s Enbee Plantation Limited before the High Court’s registry to clear the dues of some depositors (investors), the court has drawn contempt proceedings against two directors of the company.
Also, the HC has issued show-cause notice against M/s Enbee Plantation Limited directors Vibhuti Choudhary and Inder Saran asking why they be not punished for non-compliance of the court order.
On August 28, the HC directed the company to deposit Rs 40 lakh with the court’s registry, in this connection the company deposited a cheque of Rs 40 lakh dated 20.9.06 but it was dishonored.
On scrutiny of the affidavit filed by Choudhary during his personal appearance before the court on November 30, it was furnished that the cheque submitted by the company was issued on behalf of M/s Betwa Realtors Pvt Ltd.
The HC registry submitted the cheque for clearance before bank on October 5, but the bank returned the cheque with statement of insufficient funds in the account of M/s Betwa Realtors.
Justice K K Lahoti said in such circumstances, the court finds it appropriate to draw contempt proceedings against the company’s directors Vibhuti Choudhary and Inder Saran.
Besides, the court summoned M/s Betwa Realtors directors Nitin Bhondwe and Rajeev Sharma and Accountant Shiv Kumar Mishra directing them to appear before the court on January 1 for committing fraud as the cheque was dishonored.
The depositors’ counsel submitted their clients learnt that M/s Enbee Plantations Limited is alienating its property and if the property is disposed of then the applicants would be in trouble in getting their invested amount back from the company.
In response to it, the company’s counsel senior advocate S C Sharma informed that court that the company was not disposing of any property.