Excelsior Correspondent
JAMMU, Oct 11: Division Bench of High Court comprising Justice A M Magrey and Justice Bansi Lal Bhat today issued directions in a Public Interest Litigation (PIL) filed by Welfare Association of share holders of Sheen Finance and Investment, Sheen Agro Plantation Ltd and Sheen Road Links Limited.
After hearing battery of lawyers appearing for both the sides, DB observed, “earlier the court liquidator was granted time to file complete report with reference to consideration of this PIL. The report was filed and it reveals that respondent-companies are not cooperating with the Chartered Accountant to complete their audits and submit report”.
“Advocate OP Thakur appearing for the petitioners submits that MD of the respondent-companies be directed to appear in person before the court and explain as to why they failed to comply with the directions passed from time to time”, the DB said.
“On the other hand counsels for the respondents undertake to furnish all the relevant records, cooperate with CA and the court liquidator”, the DB said and directed that in case respondent companies fail to make available record, cooperate with CA and court liquidator, there shall be no option for the court to proceed against them for non-compliance of the order.
“Needful shall be done within a period of two weeks”, the DB directed.
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