ARVIND MOHAN JOHARI AND ANR. versus STATE OF U.P. AND ANR.

ARVIND MOHAN JOHARI AND ANR. versus STATE OF U.P. AND ANR.

The appellants misled the Supreme Court regarding the existence of assets with the Stock Exchanges; as no such money was admitted to be lying with the Exchanges, the original basis for granting bail was false, warranting recall of the bail order.

Parties
Appellant: Arvind Mohan Johari; Appellant: Anand Krishna Johari; Respondent: State of U.P.; Applicant: Bombay Stock Exchange; Applicant: National Stock Exchange
Jurisdiction
India
Judgment Date
04 May 2005
Procedural Posture
Criminal Miscellaneous Petition / Bail Cancellation; Recall/clarification of Bail Order
Outcome
Bail order recalled; appellants directed to surrender within one week; applications disposed of
Legal Topics
Bail, Misrepresentation, Stock Exchanges, Asset Recovery
Criminal Law Securities Law Bail Misrepresentation Stock Exchanges Asset Recovery

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Parties

Arvind Mohan Johari

Appellant

Anand Krishna Johari

Appellant

State of U.P.

Respondent

Bombay Stock Exchange

Applicant

National Stock Exchange

Applicant

Procedural Posture

Criminal Miscellaneous Petition / Bail Cancellation; Recall/clarification of Bail Order

Legal Issues

  1. 1 Whether the appellants misled the Supreme Court regarding amounts lying in their credit with Bombay Stock Exchange and National Stock Exchange
  2. 2 Whether the bail order should be recalled due to misrepresentation

Ratio Decidendi

The appellants misled the Supreme Court regarding the existence of assets with the Stock Exchanges; as no such money was admitted to be lying with the Exchanges, the original basis for granting bail was false, warranting recall of the bail order.

Court Disposition

Bail order recalled; appellants directed to surrender within one week; applications disposed of

Orders

  • Appellants Arvind Mohan Johari and Anand Krishna Johari are directed to surrender before the Trial Court within one week and may be taken into custody.
  • If and when the disputes between Stock Exchanges and appellants are adjudicated such that appellants can repay outstanding dues to claimants, they may apply for bail afresh.