NITA PURI vs UNION OF INDIA

Judgment text excerpt

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment pronounced on: 28.08.2025 + W.P.(C) 261/2025, CM APPLs. 1249/2025 & 5825/2025 NITA PURI .....Petitioner Through: Dr. Abhishek Manu Singhvi (Senior Advocate) along with Mr. Vaibhav Mishra, Mr. Ekansh Mishra, Mr. Avishkar Singhvi, Mr. Rajeev Goyal, Mr. Vijay Aggarwal, Mr. Rachit Bansal and Mr. Shubham Tiwari, Advocates. versus UNION OF INDIA .....Respondent Through: Ms. Rupali Bandhopadhyay (CGSC) along with Mr. Abhijeet Kumar, Advocate for UOI. CORAM: HON'BLE MR. JUSTICE SACHIN DATTA JUDGMENT 1. The present petition has been filed by the petitioner, an ex/suspended director of Moser Baer India Ltd. (hereinafter “MBIL”), assailing the order dated 05.09.2024 issued by the Ministry of Corporate Affairs, Government of India, under Section 212(1)(c) of the Companies Act, 2013 (hereinafter “Act, 2013”), directing the Serious Fraud Investigation Office (hereinafter “SFIO”) to conduct an investigation into the affairs of MBIL, and its “subsidiaries including joint venture and associate companies as on date”. 2. MBIL, stated to have been incorporated in 1983 by the petitioner’s late husband, was engaged in the manufacture of CDs, DVDs, and other Signature Not Verified Digitally Signed By:ROHIT KUMAR PATEL Signing Date:30.08.2025 W.P.(C) 261/2025 Page 1 of 48 05:22:43 optical media. In 2012, MBIL sought relief under the Corporate Debt Restructuring (“CDR”) Scheme of the Reserve Bank of India. Pursuant thereto, the Corporate Debt Restructuring Empowered Group (“CDR-EG”), comprising a consortium of lender banks, commissioned a Stock Audit and a Techno-Economic Viability (“TEV”) study. Based on the findings of the Stock Audit report dated 16.06.2012 prepared by M/s RRCA & Associates and the TEV Report dated 09.06.2012 prepared