Bombay High Court
Jagmohan Garg vs National Spot Exchange Ltd And Anr on 24 July, 2025
Author: S.M. Modak
Bench: S.M. Modak
LSP 1 37-40 apl 1749.24 group.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CRIMINAL APPELLATE JURISDICTION
Criminal Application No. 1749 of 2024
With
Criminal Application No.1690 of 2024
With
Criminal Application No.1694 of 2024
With
Criminal Application No.1742 of 2024
With
Criminal Application No.1745 of 2024
With
Criminal Application No.1744 of 2024
With
Criminal Application No.1748 of 2024
With
Criminal Application No.1838 of 2024
With
Criminal Application No.1839 of 2024
With
Criminal Application No.1841 of 2024
With
Criminal Application No.1840 of 2024
Jagmohan Garg ... Applicant
V/s.
National Spot Exchange Ltd. & anr. ... Respondents.
Alongwith
Criminal Application No.501 of 2024
Kamal Kant Dewan ... Applicant
v/s.
National Spot Exchange Ltd. & anr. ... Respondents.
LSP 2 37-40 apl 1749.24 group.doc
Alongwith
Criminal Application No. 1743 of 2024
With
Criminal Application No.1750 of 2024
With
Criminal Application No.1746 of 2024
With
Criminal Application No.1756 of 2024
With
Criminal Application No.1757 of 2024
With
Criminal Application No.1758 of 2024
With
Criminal Application No.1754 of 2024
With
Criminal Application No.1885 of 2024
With
Criminal Application No.1883 of 2024
With
Criminal Application No.1886 of 2024
With
Criminal Application No.1882 of 2024
Jai Shankar Shrivastava ....Applicant
v/s.
National Spot Exchange Ltd. & anr. ....Respondents
Alongwith
And
Prashant Boorugu ....Petitioner
v/s.
National Spot Exchange Ltd. ....Respondents
LSP 3 37-40 apl 1749.24 group.doc
Alongwith
Lotus Refineries Pvt. Ltd,
through Managing Director ....Petitioner
v/s.
State of Maharashtra and arn. ....Respondents
Mr. Rishi Bhuta a/w. Mr. Ashish Advocate for the Petitioner in WP
Dubey a/w. Vaishnavi Javheri No.6264/24.
a/w. Ankita Bamboli a/w. Parth
Govilkar a/w. Mr. Omer Farooq
i/b.Dilip Shukla
Mr. Arvind Lakhawat a/w. Mr. Advocates for Respondent No.1
Javed Dhorajiwala a/w. Mr. & 2 in APL 1749/24, WP
Nimeet Sharma a/w. Vinit Vaidya No.6264/24, 2228/25, 2229/25.
a/w. Ms. Jalpa Shah a/w.Ms.
Himani Narula i/b. MZM Legal
LLP
Mr. Anuj Jhaveri, Ms. Aakanksha Advocates for the Petitioners in
Nehra (through v.c.) a/w. Mihir WP No.2228/25 and 2229/25.
Modi i/b. Mihir Modi
Ms. G.S.Rao APP for State in Criminal
Application No.1749/24.
Mr. H.J. Dedhia APP for the State in WP
No.2228/25.
Mr. N.B. Patil APP for the State in WP
No.6264/24 & WP No.2229/25.
CORAM : S.M. MODAK, J
DATE : 24th July 2025.
LSP 4 37-40 apl 1749.24 group.doc
P.C. :
Heard learned Advocate Mr. Bhuta appearing for the
Petitioner. He produced the list of the judgments. He relied upon
the following two judgments:-
i) Rakesh Bhanot v/s. Gurdas Agro (P) Ltd.1
ii) Sheetal Gupta v/s. National Spot Exchange Ltd.2
2. Also Heard Mr. Lakhawat for the Respondent-NSEL He has
apprised me on following aspects:-
(i) the provisions of Section 14 and Section 96 of IBC relating
to moratoriums.
(ii) the difference about moratorium under Section 14 and
Section 96 of IBC.
(iii) He has elaborately apprised me about the facts and law laid
down in P. Mohanraj & ors. v/s. Shah Brothers Ispat Pvt.
Ltd.3. His emphasis is the observations in that judgment
needs to be considered on the background of the corporate
insolvency and interpretation of Section 14.
He also produced list of matters with details pending before the trial
Magistrate.
3. Stand over to 31st July 2025 at 3.00 p.m.
1 2025 SCC OnLine SC 728
2 2023 SCC OnLine Bom 3095
3 (2021) 6 Supreme Court Cases 258
LSP 5 37-40 apl 1749.24 group.doc
5. Interim order granted earlier to continue till next date.
(S.M. MODAK, J.)
