19-WP-4722-2026.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION WRIT PETITION NO.4722 OF 2026 M/s. Kuber Planters Ltd. ...Petitioners Through its Director Rowena P. Sharma & Anr. Versus The State of Maharashtra & Ors. ...Respondents —————— Mr. Atul Rajadhyaksha, Senior Advocate a/w Akhilesh Dubey, Amit Dubey, Uttam Dubey, Abhishek Karnik, Shubham Sharma & Sahil Upadhyay i/b Law Counsellors, for the Petitioners. Mr. S. S. Ghag, APP, for the Respondent-State. Mr. Subodh Desai, Senior Advocate a/w Rahul Sinha, Soham Bhalerao, Arnav Ashtikar i/b DSK Legal, for Respondent No.3-CIDCO. Mr. Sunil Kumar (Through Video Conferencing) a/w Siddharth Singh i/b Kumar & Associates, for Respondent No.4. —————— Coram: Madhav J. Jamdar, J. Date: 30 September 2026 P.C.: 1. Heard Mr. Rajadhyaksha, learned Senior Counsel appearing for the Petitioners, Mr. Desai, learned Senior Counsel appearing for Respondent No.3-CIDCO and Mr. Sunil Kumar, learned Counsel appearing for Respondent No.4. 2. By this Writ Petition, the Petitioners are seeking the following substantive reliefs: Arjun 1 ARJUN VITTHAL KUDHEKAR Digitally signed by ARJUN VITTHAL KUDHEKAR Date: 2026.09.30 23:11:56 +0530 19-WP-4722-2026.doc “(a) that this Hon'ble Court be pleased to call for the records and proceedings of Application No. 200 of 2024 in M.P.I.D. Special Case No. 7 of 2000 pending before the learned Designated Court under the M.P.I.D. Act, 1999 at Greater Bombay, and, upon examining the legality and propriety thereof, be pleased by an appropriate writ, order or direction under Article 227 of the Constitution of India to quash and set aside the proceedings held on 11th September 2026 whereby the said Application No. 200 of 2024 was heard and reserved for orders on 19th September 2026; (b) that this Hon'ble Court be pleased by an appropriate writ, order or direction under Article 227 of the Constitution of India to declare that the learned Designated Court, having finally determined the question of release of the said Properties by its orders dated 26th November 2024 passed in Misc. Application No. 333 of 2015 and dated 7th December 2024 passed in Misc. Application Nos. 334 and 429 of 2015, has become functus officio in respect of that subject matter, and has no jurisdiction to entertain, hear or decide Application No. 200 of 2024 or any other application seeking the release or transfer of the said Properties;” 3. At the outset, Mr. Rajadhyaksha, learned Senior Counsel for the Petitioners, states that in prayer clauses (a) and (b), M.A. No.1200 of 2024 has been incorrectly mentioned as M.A. No.200 of 2024. 4. However, Mr. Sunil Kumar, learned Counsel appearing for Respondent No.4, points out that the said MPID Miscellaneous Application No.1200 of 2024 has been disposed of by the Order dated 19th September 2026 passed by the learned Designated Judge under the Maharashtra Protection of Interest of Depositors Act, 1999. 5. The learned Senior Counsel states that the said Order has been challenged by filing Criminal Appeal No.833 of 2026 under Section 11 of Arjun 2 19-WP-4722-2026.doc the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (“MPID Act”). However, he states that the question as to whether appeals under Section 11 of the MPID Act are to be heard by a Division Bench or by a Single Judge has been referred to a Larger Bench. 6. Mr. Rajadhyaksha, learned Senior Counsel for the Petitioners and Mr. Desai, learned Senior Counsel for Respondent No.3-CIDCO, state that the properties having valuation of more than about Rs.600 Crores have been sold in favour of Respondent No.4 for a consideration of Rs.59,25,00,000/-. 7. However, as the Appeal has been filed under Section 11 of the MPID Act, this Court need not consider prayer clauses (a) and (b). Since the Appeal has been filed and as the said Miscellaneous Application No.1200 of 2024 has already been disposed of, it is not necessary to consider various contentions which are raised in the Writ Petition. However, it is clarified that all contentions raised in the Petition are expressly kept open. 8. Accordingly, the Writ Petition is disposed of. 9. However, it is directed that, for the purpose of giving opportunity to the Petitioners for moving the appropriate Court in the said Criminal Appeal No.833 of 2026, the status quo shall be maintained till 15th October 2026. The Order of status quo is granted only to facilitate the Arjun 3 19-WP-4722-2026.doc Petitioners to approach the concerned learned Appellate Court and all contentions of both the parties are expressly kept open. [Madhav J. Jamdar, J.] Arjun 4