Authority: Supreme Court of India

Order Date: 21-07-2026

Case Overview

  • Civil Appeal No. 20971/2017, filed by Anant Kajare (Appellant) against Eknath Aher and others (Respondents), was listed for hearing on 21‑07‑2026 before Hon'ble Justices J.B. Pardiwala and K.V. Viswanathan.
  • The matter involved a long list of Interlocutory Applications (IAs) ranging from IA No. 447/2019 to IA No. 170612/2024, covering permissions, clarifications, exemptions, interventions, modifications, and other procedural requests.
  • Counsel for the appellant, respondent, Amicus Curiae (Mr. Shyam Divan), Enforcement Directorate (ED), SEBI, and various private applicants appeared.
  • Key issues raised included the status of a parallel criminal case in the Greater Bombay City Civil and Sessions Court, filing of charge‑sheets, alleged absconding accused, valuation of corporate stakes, removal of a company from a petition list, acquisition of a stake in a real‑estate project, and impleadment of Axis Bank.

Final Outcome

1. The Court heard the Amicus and all counsel present.

2. It sought an update on the criminal case pending before Court No. 20, Designated Judge, MPID Court, Greater Bombay City Civil and Sessions Court, confirming that charge‑sheets have been filed and some accused remain absconding.

3. The Registry was directed to obtain a fresh report from the concerned criminal court on the current status.

4. The Enforcement Directorate’s investigation report was to be furnished to the Amicus (Mr. Shyam Divan) immediately.

5. The SEBI report filed by senior counsel Mr. S. Niranjan Reddy was to be placed on record and a copy provided to the Amicus before the next hearing.

6. For IA No. 102331/2026 (applicants Aanya Properties and Access Investments India), the Court noted the reliefs sought: (a) immediate, time‑bound valuation of Mirah Group’s 38.20% interest in LIPL and subsequent sale; (b) alternatively, acceptance of a prior offer of Rs 15 crore dated 01‑05‑2024 to purchase the interest. The Court ordered the SEBI/SMC report to be placed on record by the next hearing and a copy to be given to counsel Nakul Dewan.

7. For IA No. 35672/2023 (applicants seeking modification concerning Laurel Hotel Pvt. Ltd.), the Court was instructed to consider the reliefs on the next date and to seek the Amicus’s assistance.

8. For IA No. 45872/2019, the Court granted the specific prayer to delete Laurel Hotel Pvt. Ltd. from the list of 88 companies implicated in the petition, confirming it is not an associate/sister concern per ROC report.

9. For IA No. 322834/2025, the Court approved the applicant’s request to acquire a 35% stake in KML Estates at the auction reserve price of Rs 15.00 crore, directed issuance of a sale certificate upon full payment, and required the applicant to deposit Rs 15 crore with SEBI within four months.

10. IA No. 100718/2026: Application for impleadment was allowed; Axis Bank was impleaded as a party‑opponent in IA No. 100938/2026, notice to be issued and Dasti service permitted.

11. IA No. 204507/2026: The Court called for the Investigating Officer’s report regarding the applicant’s request for return of a passport for renewal; counsel Aniruddha Deshmukh waived service of notice on behalf of the EOW.

12. The Court scheduled the next list for 23‑09‑2026 at 3.00 PM.

Topics: Court Proceedings, Corporate Governance, Capital Markets