NEW DELHI: The Supreme Court had stayed the Bombay High Court order, which allowed a Mumbai-based Ushdev International Ltd, chairperson Suman Vijay Gupta to travel abroad, acting on a plea by SBI that Rs 3300 crore granted to the company has turned non performing assets.
Solicitor General Tushar Mehta mentioned the matter, seeking urgent orders before a bench of by Chief Justice of India D Y Chandrachud and comprising justice P S Narasimha.
Mehta submitted that Gupta took up the citizenship of the Dominican Republic after the declaration of her account as Non Performing Asset (NPA), and she has been permitted to travel by the orders dated 10 March 2023 and 14 March 2023 of a division bench of the High Court of judicature at Bombay.
“It has been submitted that this order was despite a contrary view which was taken on 3 July 2020 by a coordinate Division Bench of the High Court,” the court noted.
Staying the high court orders, the bench said: “Pending further orders, there shall be a stay of the operation of the impugned orders dated 10 March 2023 and 14 March 2023….”.
The apex court’s order came on a plea by State Bank of India against the Bombay High Court order dated March 10 and March 14.
Mehta submitted that they had faced a bad experience with travelling on undertaking. He said that she is a chairperson of a company and there is a loan of over Rs 3000 crore-thousand crores, which have now become nearly Rs 3700 crores.
He further pointed out that SBI declared the company as a NPA and as soon it was done so, she renounced the Indian citizenship and took the citizenship of the Dominican Republic, a country with whom we have no extradition treaty.
The apex court was informed that a look-out circular was also issued under the office memorandum and it was challenged before the high court.
Following the hearing, the court also issued notice to Gupta on SBI’s plea and listed the matter for further hearing on March 24.
