Kerala High Court
Oommen K. Abraham vs Serious Frauds Investigation ... on 17 March, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
Thursday, the 17th day of March 2022 / 26th Phalguna, 1943
W.P.(C) NO. 12258 OF 2021 (F)
PETITIONERS:
1. OOMMEN K. ABRAHAM, MINRA-202, KANICHUKATT, MAR IVANIOS NAGAR LANE-2,
KESAVADASAPURAM, PATTOM P.O., TRIVANDRUM, PIN - 695 004 AND 3 OTHERS
RESPONDENTS:
1. SERIOUS FRAUDS INVESTIGATION OFFICER, 2ND FLOOR, PT. DEENDAYAL
ANTYODAYA BHAWAN, CGO COMPLEX, LODHI ROAD, NEW DELHI, PIN - 110 003
AND 2 OTHERS
Writ petition (civil) praying inter alia that in the circumstances
stated in the affidavit filed along with the WP(C) the High Court be
pleased to direct the 1st and 2nd respondents to file interim reports
regarding the investigation being conducted pursuant to Exhibit P2
judgment of this Honorable Court in accordance with the law laid down
under Sections 212(11) and 223(1) of the Companies Act, 2013.
This petition again coming on for orders upon perusing the petition
and the affidavit filed in support of WP(C) and this Court's order dated
04.02.2022 and upon hearing the arguments of SRI.PRAVEEN VYASAN, Advocate
for the petitioners and the CENTRAL GOVERNMENT COUNSEL for the respondent
1 &2, the court passed the following:
[P.T.O.]
N. NAGARESH, J.
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W.P.(C) Nos.28019/2020, 199 & 12258 of 2021
and
W.P.(Crl.) Nos. 17 & 122 of 2022
-----------------------------------------------------------
Dated this the 17th day of March, 2022
ORDER
The learned counsel representing the petitioners,
relying on Section 212(2) of the Companies Act, 2013, point out
that if any case has been assigned to the Serious Frauds
Investigation Office (SFIO) for investigation under this Act, no
other investigating agency of Central Government or any State
Government shall proceed with investigation in such case in
respect of any offence under the Companies Act and in case any
such investigation has already been initiated, it shall not be
proceeded further with and the concerned agency shall transfer
the relevant documents and records in respect of such offences
under this Act to Serious Fraud Investigation Office. In view of
Section 213(17)(a), in case SFIO is investigating any offence,
W.P.(C) Nos.28019/2020, 199 & 12258 of 2021
and W.P.(Crl.) Nos. 17 & 122 of 2022
any other agency having any information or documents
provide the same to the SFIO.
2. In view of such over riding powers given to the
SFIO, the SFIO is bound to proceed with the investigation
with vigour, taking over all requisite documents from various
investigation authorities.
3. The petitioners pointed out that there are more
than 30,000 citizens, who have defrauded by the Group of
Companies under investigation. The amounts involved in
the fraud is more than ₹1600 Crores. As many as 34
investors have committed suicide due to loss of their life long
earnings. The Group of Companies had 239 branches,
which are all shut down now, but the manager who run those
branches are freely available in the society for examination
and investigation, contend the petitioners.
4. Taking into account the magnitude of the offence
and the disastrous impact thereon over the hapless
W.P.(C) Nos.28019/2020, 199 & 12258 of 2021
and W.P.(Crl.) Nos. 17 & 122 of 2022
investors, this Court is of the view that investigation should
be proceeded with vigourously. According to the petitioners,
the Chairman and Managing Directors of the Companies,
who were in Australia have returned to India and are at
present residing in India.
5. In the afore facts, the Standing Counsel for the
SFIO is required to file a statement before this Court
explaining the concrete steps taken and effected by the
SFIO during the last three months in the matter of
investigation. The statement should also contain the status
as regard the forensic audit contemplated under Section 211
of the Act, 2013.
Post on 07.04.2022.
Sd/-
N. NAGARESH
JUDGE
SR
17-03-2022 /True Copy/ Assistant Registrar
