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State Trading Corporation Of India Ltd. vs M/S Global Steel Holding Limited & Ors

Supreme Court Of India · Decided on 12 March 2019 · Citation: (2019) 2 SCR 1040 : (2019) 4 SCC 639

HON’BLE JUDGES
Abhay Manohar Sapre, J · Indu Malhotra, J
ACTS & SECTIONS REFERRED
Constitution Of India, 1950 — Article 136, 142 · Indian Penal Code, 1860 — Section 409, 420
RESULT
Disposed Off
CASE NUMBER
M.A. No. 320 Of 2019 In Civil Appeal No. 11907 Of 2018
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Judgment

10 paragraphs · 335 words

Indu Malhotra, J

1.

Pursuant to the Order dated December 6, 2018 passed by this Court, we are informed by Senior Counsel Mr. D. A. Dave representing the State Trading Corporation of India, and Mr. Kapil Sibal, Senior Advocate for the Respondents, that the amount of Rs. 600 crores payable by the Respondents towards Interest @ 8% p.a. by 28th February, 2019 has been paid. As a consequence, all the liabilities under the Settlement Agreement dated 15.11.2010, and Further Settlement Agreement dated 17.05.2012, stand fully satisfied. It is stated on behalf of S.T.C. that there is no further claim of the Appellants against the Respondents, arising out of the aforesaid Agreements.

2.

As a consequence, in exercise of our powers under Article 136 r.w. Article 142 of the Constituion of India, we hereby quash the following proceedings which have arisen from the Agreements mentioned hereinabove :

i. F.I.R. lodged by C.B.I. on Complaint of State Trading Corporation bearing R.C. No. ­ 217/2017/A0005/CBI//ACU­VI/AC­II/New Delhi.

ii. E.C.I.R. by Enforcement Directorate on the basis of the F.I.R. lodged by C.B.I. bearing ECIR No. - ECIR/03/DZ­I/2017 dated 29.03.2017.

iii. Show Cause Notice dated 29.12.2017 issued by the High Commission of India, Passport & Consular Wing, India House, London.

iv. Any Look Out Notice issued against Mr. Pramod Mittal or his wife, or their children, by the Authorities and/or Agencies arising from the aforesaid Agreements.

v. Eleven Complaints under S. 420 and 409 I.P.C. pending before the Court of Shri Dharmendra Kumar, Ld. Metropolitan Magistrate, Patiala House Courts, New Delhi.

3.

It was further stated by Mr. D.A. Dave, Senior Advocate on instructions of his clients, that since the amounts due and owing to S.T.C. under the Agreements mentioned hereinabove, stood satisfied, it would not prosecute the Winding­Up proceedings instituted by it against GSHIL - Respondent No. 1 in the Isle of Man Court. We take on record the said statement made by S.T.C.

M.A. No. 320/2019, stand disposed of in the above terms with no Order as to Costs.