Case Number: CR Cases/1/2019
Parties: Directorate Of Enforcement versus M/S Jindal Steel And Power Ltd And Ors
Order Number: 244
Filing Date: Fri, 13 Jul 2018
Order Date: Sat, 03 May 2025
Order Description: COPY OF ORDER
Status: Arguments on Charge
Stage: Arguments on Charge
CNR No. DLCT11-000452-2019
CRC No. 01/2019 (Old CRC No. 08/18)
ECIR No. 12/DLZO/2014
Branch: Delhi Zonal Office, Zone-II.
ED Vs. M/s Jindal Steel & Power Ltd & Ors.
Offence u/s 3 and punishable u/s 4 PMLA, 2002
Present:
Ld. Senior Advocate/Special PP Sh. Maninder Singh along with Special PPs Sh. Rajesh Batra, Sh. N.K. Matta along with Ld. Advocates Ms. Sonia Kukreja (through VC), Sh. Prabhas Bajaj, Sh. Ansh Singh Luthra, Sh. Manmeet Singh, Sh. Priyanshu Tyagi, Ms. Jyoti Khattar and Ms. Sadhika Kochar for DoE.
Sh. Vivek Mittal (through VC) AR of A-1 M/s Jindal Steel & Power Ltd. with Ld. Counsel Sh. Ritik Gupta.
Sh. Ravindra Kumar Manchal (through VC), AR of A-2 company M/s Gagan Sponge Iron Pvt. Ltd with Ld. Proxy Counsel Sh. Varun Singh Pannu.
Sh. Ajaib Singh, AR of A-3 M/s Jindal Reality Pvt. Ltd. with Ld. Counsel Sh. Prashant Mehta (both through VC).
Sh. Chandan Singh Sountiyal, AR of A-4 M/s New Delhi Exim Pvt. Ltd., with Ld. Counsel Sh. Himanshu Anand Gupta.
None for A-5 M/s Sowbhagya Media Ltd.
A-15 B.S.N. Suryanarayan (also AR of A-6 M/s Nihar Stocks Limited) (through VC) with Ld. Counsel Sh. Bhupender Kumar.
A-7 Sh. Naveen Jindal is absent.
[Proceedings against A-8 K. Ramakrishna Prasad stands abated vide order dated 15.03.2021].
A-9 Sushil Kumar Maroo (through VC) with Ld. Counsel Sh. Shishir Mathur.
A-10 Rajeev Jain (through VC) with Ld. Counsel Sh. Somesh Arora.
A-11 Anand Goel (through VC).
A-12 Rajeev Aggarwal (through VC) with Ld. Counsel Ms. Ana Upadhyay.
A-13 Siddharth Madra with Ld. Counsel Sh. Mathew M. Philip (both through VC).
A-14 Gyan Swaroop Garg (through VC) with Ld. Counsel Sh. Hemant Shah.
A-16 Arjun Saraswat with Ld. Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
Sh. Narendra Nath Mohanta AR for A-17 M/s Malaysia Securities Pvt Ltd., A-19 M/s Swedish Portfolio Pvt Ltd, A-24 M/s Zurich Securities Pvt Ltd and A-25 M/s Janus Value Folio Pvt Ltd (merged with Sarda Mines Pvt Ltd vide order issued by Hon'ble Regional Director Kolkata with appointed dated being 01.04.2020) with Ld. Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
Sh. Mukesh Singh (through VC), AR for A-18 M/s Maxrich Global Stocks Pvt Ltd (now known as M/s Jai Raghunandan Trading Pvt Ltd) with Ld. Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
Sh. Dinesh Kumar, AR for A-20 M/s Freedom Buildwell Pvt Ltd (now known as M/s Lombard Portfolio Pvt. Ltd), A-21 M/s Campus Builcon Pvt Ltd (now known as M/s Templeton Stockgrowth Pvt. Ltd), A-22 M/s Olympus Global Stocks Pvt. Ltd and A-23 M/s M/s Blackrock Securities Private Limited with Ld. Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
None for A-26 M/s Mumbai Buildwell Private Limited (names struck off in the records of RoC, deleted as an accused vide orders dated 23.11.2024).
Ld. Counsels Sh. Nishant Anand and Sh. Ritik Vashisht for A-27 M/s Natma Securities Ltd.
An application seeking exemption from personal appearance of A-7 Naveen Jindal is filed by his Ld. Counsel on the ground that he is required to attend a Review Meeting at Kaithal.
Heard. Perused. Allowed for today only subject to the condition that he shall not dispute his identity during the proceedings conducted today in the Court.
Arguments on charge heard on behalf of complainant.
During the course of arguments, Sh. Maninder Singh, Ld. Special PP/Senior Advocate for DoE submits that he needs some time for placing on record certain descriptive and comparative charts to substantiate the allegations made in the complaint and for this purpose an adjournment is prayed for.
The said request is allowed.
The said charts be furnished on record on or before the next date of hearing with advance copy to the opposite side.
IA NO. 60/25: APPLICATION DATED 24.01.2025 ON BEHALF OF GYAN SWAROOP GARG, ACCUSED NO. 14 FOR PLACING FACTS ON RECORD, SEEKING DIRECTIONS TO THE ACCUSED NO. 27 AND SEEKING MODIFICATION IN ORDER DATED 16.12.2024.
In compliance of order dated 16.12.2024, today vakalatnama is filed by Ld. Counsel Sh. Nishant Anand and Sh. Ritik Vashisht on behalf of A-27 M/s Natma Securities Limited. Same is taken on record.
Ld. Counsel Sh. Hemant Shah for the applicant/A-14 Gyan Swaroop Garg has placed on record written synopsis in support of his application.
Ld. Counsel Sh. Nishant Anand for non-applicant/A-27 submits that he needs some time to take instructions from the Directors of the said company before responding to the present application.
List this application on 14.05.2025 for its disposal and for arguments on charge by Ld. Defence Counsels.
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(Dheeraj Mor) Special Judge, (PC Act) (CBI), Coal Block Cases-01, RADC New Delhi/03.05.2025
ED Vs. M/s Jindal Steel & Power Ltd & Ors.
03.05.2025
Present: Ld. Senior Advocate/Special PP Sh. Maninder Singh along with
Special PPs Sh. Rajesh Batra, Sh. N.K. Matta along with Ld.
Advocates Ms. Sonia Kukreja (through VC), Sh. Prabhas Bajaj, Sh.
Ansh Singh Luthra, Sh. Manmeet Singh, Sh. Priyanshu Tyagi, Ms.
Jyoti Khattar and Ms. Sadhika Kochar for DoE.
Sh. Vivek Mittal (through VC) AR of A-1 M/s Jindal Steel &
Power Ltd. with Ld. Counsel Sh. Ritik Gupta.
Sh. Ravindra Kumar Manchal (through VC), AR of A-2 company
M/s Gagan Sponge Iron Pvt. Ltd with Ld. Proxy Counsel Sh. Varun
Singh Pannu.
Sh. Ajaib Singh, AR of A-3 M/s Jindal Reality Pvt. Ltd. with Ld.
Counsel Sh. Prashant Mehta (both through VC).
Sh. Chandan Singh Sountiyal, AR of A-4 M/s New Delhi Exim Pvt.
Ltd., with Ld. Counsel Sh. Himanshu Anand Gupta.
A-15 B.S.N. Suryanarayan (also AR of A-6 M/s Nihar Stocks
Limited) (through VC) with Ld. Counsel Sh. Bhupender Kumar.
Ld. Counsels Sh. Gurpreet Singh Parwanda, Sh. Pallav Srivastava,
Ms. Kanika Bose and Sh. Anshul Misra for A-7.
[Proceedings against A-8 K. Ramakrishna Prasad stands abated vide order
dated 15.03.2021].
A-9 Sushil Kumar Maroo (through VC) with Ld. Counsel Sh.
Shishir Mathur.
A-10 Rajeev Jain (through VC) with Ld. Counsel Sh. Somesh
Arora.
Page 1 of 3
A-12 Rajeev Aggarwal (through VC) with Ld. Counsel Ms. Ana
Upadhyay.
A-13 Siddharth Madra with Ld. Counsel Sh. Mathew M. Philip
(both through VC).
A-14 Gyan Swaroop Garg (through VC) with Ld. Counsel Sh.
Hemant Shah.
A-16 Arjun Saraswat with Ld. Counsels Sh. Harshit Sethi and Ms.
Mansi Tripathi.
Sh. Narendra Nath Mohanta AR for A-17 M/s Malaysia Securities
Pvt Ltd., A-19 M/s Swedish Portfolio Pvt Ltd, A-24 M/s Zurich
Securities Pvt Ltd and A-25 M/s Janus Value Folio Pvt Ltd (merged
with Sarda Mines Pvt Ltd vide order issued by Hon’ble Regional
Director Kolkata with appointed dated being 01.04.2020) with Ld.
Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
Sh. Mukesh Singh (through VC), AR for A-18 M/s Maxrich Global
Stocks Pvt Ltd (now known as M/s Jai Raghunandan Trading Pvt
Ltd) with Ld. Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
Sh. Dinesh Kumar, AR for A-20 M/s Freedom Buildwell Pvt Ltd
(now known as M/s Lombard Portfolio Pvt. Ltd), A-21 M/s
Campus Builcon Pvt Ltd (now known as M/s Templeton
Stockgrowth Pvt. Ltd), A-22 M/s Olympus Global Stocks Pvt. Ltd
and A-23 M/s M/s Blackrock Securities Private Limited with Ld.
Counsels Sh. Harshit Sethi and Ms. Mansi Tripathi.
None for A-26 M/s Mumbai Buildwell Private Limited (names struck off in the
records of RoC, deleted as an accused vide orders dated 23.11.2024).
Ld. Counsels Sh. Nishant Anand and Sh. Ritik Vashisht for A-27
M/s Natma Securities Ltd.
An application seeking exemption from personal appearance of
A-7 Naveen Jindal is filed by his Ld. Counsel on the ground that he is required
to attend a Review Meeting at Kaithal.
Heard. Perused. Allowed for today only subject to the condition
that he shall not dispute his identity during the proceedings conducted today in
the Court.
Page 2 of 3
During the course of arguments, Sh. Maninder Singh, Ld. Special
PP/Senior Advocate for DoE submits that he needs some time for placing on
record certain descriptive and comparative charts to substantiate the allegations
made in the complaint and for this purpose an adjournment is prayed for.
The said charts be furnished on record on or before the next date of
hearing with advance copy to the opposite side.
IA NO. 60/25: APPLICATION DATED 24.01.2025 ON BEHALF OF
GYAN SWAROOP GARG, ACCUSED NO. 14 FOR PLACING FACTS ON
RECORD, SEEKING DIRECTIONS TO THE ACCUSED NO. 27 AND
SEEKING MODIFICATION IN ORDER DATED 16.12.2024.
In compliance of order dated 16.12.2024, today vakalatnama is
filed by Ld. Counsel Sh. Nishant Anand and Sh. Ritik Vashisht on behalf of
A-27 M/s Natma Securities Limited. Same is taken on record.
Ld. Counsel Sh. Hemant Shah for the applicant/A-14 Gyan
Swaroop Garg has placed on record written synopsis in support of his
application.
Ld. Counsel Sh. Nishant Anand for non-applicant/A-27 submits
that he needs some time to take instructions from the Directors of the said
company before responding to the present application.
List this application on 14.05.2025 for its disposal and for
arguments on charge by Ld. Defence Counsels.
(Dheeraj Mor)
Special Judge, (PC Act) (CBI),
Coal Block Cases-01, RADC
New Delhi/03.05.2025
Page 3 of 3