Supreme Court Asked Allahabad High Court To Reconsider Yes Bank’s Plea To Quash FIR

The Supreme Court in the case Yes Bank Limited v. The State Of U.P. And Others observed and has directed the Allahabad High Court to consider afresh the plea of Yes Bank in respect of an FIR lodged against the bank under Section 420, Section 467, Section 468, Section 409, Section 120 B, Section 34 of the Indian Penal Code, 1860. Adding to it, the court stated that till the matter is disposed of by the High Court, the interim order passed by the Supreme Court on 30.11.2021, wherein a stay is granted in operation of notices and proceedings in connection with the FIR, shall continue. The bench comprising of CJI DY Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala was hearing the plea filed by Yes Bank. the plea was being filed as the Yes Bank’s SLP against the order of the Allahabad High Court dated November 25, which dismissed the bank’s writ petition against an FIR and the consequent Section 102 notices. It has also been stated by the High Court that the facts disputed cannot be examined under Article 226 and that the petitioner had alternative remedies and that it is not inclined to exercise its writ jurisdiction to stifle a legitimate investigation. The High Court while noting and ought to have addressed the merits of petition. The bench headed by CJI DY Chandrachud stated that the said proceedings are being restored before the High Court for fresh consideration. Thus, the High Court is being requested to take up proceedings early, until the said proceedings are taken up by the High Court and the same is disposed of and shall continue the interim order. It has been submitted by Senior Advocate AM Singhvi that, he is receiving the wrong end of the stick from the State of. Therefore, extraordinarily, passing 102 orders, my case is entirely at the behest of the Zee group. Thus, any protective order, while the matter is continuing in High Court, I can understand. Today, 102 and its language stated – proceeds of crime or goods which have been stolen. How can the shareholding be that? The Essel group founder Subhash Chandra lodged an FIR against Yes Bank over the allegations of fraud in the merger transaction between Videocon D2H and Dish TV India.

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