SRIDHAR LAGADAPATI vs UNION OF INDIA & ORS.

Judgment text excerpt

$~70 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 11023/2025 Date of Decision: 25.02.2026 IN THE MATTER OF: SRIDHAR LAGADAPATI .....Petitioner Through: Mr. Malak Bhatt, Ms. Neeha Nagpal, Mr. Shreyansh Chopra, Advocates. versus UNION OF INDIA & ORS. .....Respondents Through: Mr.Rohan Jaitley CGSC, Mr.Akshay Sharma Adv, Mr.Dev Pratap Shahi Adv, Mr.Varun Pratap Singh Adv, Mr.Yogya Bhatia Advocates for UOI. Mr. Mr. Arun Aggarwal & Ms. Kajal Ashok Mishra, Advocates for R-3. CORAM: HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV JUDGEMENT PURUSHAINDRA KUMAR KAURAV, J. (ORAL) The petitioner seems to be erstwhile Managing Director of Lanco Infratech Limited (‘LITL’) and had relinquished his position in the year 2004. The petitioner claims that consequent to his resignation he was inducted as a non-executive Director of LITL and was considered as a part of ‘promoter group’ in terms of the Securities and Exchange Board of India Signature Not Verified Signature Not Verified Signed By:AMIT KUMAR Signed SHARMA Signing Date:27.02.2026 By:PURUSHAINDRA 14:56:20 Page 1 of 4 KUMAR KAURAV (Issue of Capital and Disclosure Requirements) Regulations, 2009. The petitioner claims to have started his own entertainment business between the years 2004 to 2006. 2. In the year 2017, the National Company Law Tribunal (‘NCLT’), Hyderabad Bench admitted a petition and ordered commencement of CIRP proceedings against LITL. In interregnum, the Ministry of Corporate Affairs also directed investigation by respondent no.2 into the affairs of LITL. 3. It, however, remains undisputed that till date no FIR, Charge-sheet or complaint has been registered against the petitioner. The petitioner is not required by any of the investigating agencies. The investigation initiated by the Serious Fraud Investigatio