Bombay High Court Issues Non-Bailable Warrant Against Promoter Of Varanium Cloud IT Services Provider, Orders For His Assets To Be Frozen
11 months, 3 weeks ago

Bombay High Court Issues Non-Bailable Warrant Against Promoter Of Varanium Cloud IT Services Provider, Orders For His Assets To Be Frozen

Live Law  

The Bombay High Court has issued a non-bailable warrant and further directed Red Corner Notice proceedings, if required, to be initiated against Harshwardhan H. Sabale – promoter of IT company Varanium Cloud Ltd for defaulting in payment of over Rs. In a significant move, the court has also ordered the attachment of Sabale's bank accounts disclosed in an affidavit dated February 7, 2024. Additionally, the court has appointed a Court Receiver to take charge of Sabale's demat accounts, including the one with ACML Capital Markets Limited, and to seize his unencumbered shares in Varanium Cloud Limited. The court has also frozen all bank accounts and demat accounts held by Sabale, either singly or jointly, and has prohibited him from buying or selling shares through any undisclosed accounts until further orders.

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History of this topic

Bombay High Court Weekly Round Up: August 29 - September 3 , 2022
2 years, 6 months ago

Bombay High Court Weekly Round Up: August 29 - September 3 , 2022

Live Law  

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