DIRECTORATE OF ENFORCEMENT vs M/S. HI-TECH MERCANTILE INDIA PVT LTD & ORS. & ORS.

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 15.09.2025 Judgment pronounced on: 17.10.2025 + LPA 588/2022 DIRECTORATE OF ENFORCEMENT .....Appellant Through: Mr. Zoheb Hossain, Spl Counsel for ED with Mr. Vivek Gurnani, Panel Counsel with Mr. Pranjal Tripathi, Mr. Kartik Sabharwal and Mr. Sheikh Raqueeb, Advs. versus M/S. HI-TECH MERCANTILE INDIA PVT LTD & ORS. & ORS. .....Respondents Through: Mr. Dayan Krishnan, Sr. Adv. with Mr. Ankur Chawla, Mr. Chander B. Bansal, Mr. Gurpreet Singh, Mr. Jatin S. Sethi, Mr. Bukul Jain, Mr. Kunal Aggarwal, Mr. Shivam Bansal and Mr. Yash Pandey, Advs. + LPA 590/2022 DIRECTORATE OF ENFORCEMENT .....Appellant Through: Mr. Zoheb Hossain, Spl Counsel for ED with Mr. Vivek Gurnani, Panel Counsel with Mr. Pranjal Tripathi, Mr Kartik Sabharwal and Mr Sheikh Raqueeb, Advs. versus M/S. PRAKASH INDUSTRIES LTD AND ANR & ANR. .....Respondents Through: Mr. Kapil Sibal, Sr. Adv. with Mr. Shivam Tandon, Mr Ankur Chawla, Mr. C. B. Bansal, Mr. Gurpreet Singh, Mr. Aamir Signature Not Verified Signed By:JAI LPA 588/2022 and connected matters Page 1 of 52 NARAYAN Signing Date:17.10.2025 13:08:59 Khan and Mr. Atif Akhtar, Advs. CORAM: HON’BLE MR. JUSTICE ANIL KSHETARPAL HON’BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR JUDGMENT ANIL KSHETARPAL, J. 1. These Appeals assail the correctness of the Judgement and Order dated 19.07.2022 [hereinafter referred to as „IJ‟] passed by the learned Single Judge [hereinafter referred to as „LSJ‟] in Writ Petitions which raised substantially similar challenges. Since, both the Appeals arise from the same lis and turn upon overlapping issues; they are with the consent of learned counsel for the respective parties, being disposed of by this consolidated judgment. However, for the sake of convenience and