Don’t fine us, Tech Mahindra tells Supreme Court
Tech Mahindra had appealed against an Rs 800-crore money laundering case initiated by the ED
By : DC Correspondent
Update: 2015-05-12 01:02 GMT
New Delhi: Senior counsel Kapil Sibal, appearing for Tech Mahindra, submitted in the Supreme Court that criminal liability could not be foisted on the company which had come forward to purchase Satyam Computers.
The case pertains to ED's attachment of fixed deposit worth Rs 822 crore belonging to the company and cases have been registered for alleged money laundering. Tech Mahindra had appealed against an Rs 800-crore money laundering case initiated by the Enforcement Directorate.
He said the trial court should be restrained from proceeding further in the case. He said the various investigating authorities cannot accuse the merged entity for offences that they believe were committed by the earlier Satyam management.
Additional Solicitor General Maninder Singh, appearing for the ED, submitted that the case against Satyam Computers included illegal proceeds of the crime in the fudging of accounts. He said the case could not proceed further without the company being impleaded.
He conceded that if charges were framed against the company it would be debarred by international firms. He said the High Court could dispose of the main case.