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HC issues directions in multi-crore scam of Sheen Finance 10/11/2014 9:24:33 PM Jammu, Oct 11: In a Public Interest Litigation filed by Welfare Association of Share Holders of Sheen Finance & Investment (India), Sheen Agro Plantation Ltd and Sheen Road Links Limited, a Division Bench of State High Court comprising Justice AM Magrey and Justice Bansi Lal Bhat after hearing a battery of lawyers observed that earlier the Court liquidator was granted time to file complete report with reference to consideration of this PIL and report was filed which reveals that respondent-companies are not cooperating with the Charted 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 of the Court passed from time to time. On the other hand counsels for the respondents undertake to furnish all the relevant records, cooperative with CA and the Court liquidator. Division Bench after hearing both the sides observed 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 and further observed that needful be done within a period of two weeks. (JNF)   Share This News with Your Friends on Social Network     Comment on this Story

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