Calcutta High Court
CRR/1419/2026 of BHABANI SHANKAR BISWAL Vs UNION OF INDIA AND ANOTHER on 14 October 2026
14.10.2026 Suman Ct. 237 CRR 1419 of 2026 Bhabani Shankar Biswal Vs. Union of India & Anr. Mr. Ayan Bhattacharya, Sr. Adv. Ms. S. Bhattacharya ..for the petitioner Mr. Sagar Saha ..for Union of India Mr. Sudip Kumar Dutta Mr. Siddharth Bose Ms. S. Dutta ..for SEBI Mr. Ayan Bhattacharya,
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Sl. No.08. 14.10.2026 Suman Ct. 237
CRR 1419 of 2026 Bhabani Shankar Biswal Vs. Union of India & Anr.
Mr. Ayan Bhattacharya, Sr. Adv. Ms. S. Bhattacharya ..for the petitioner Mr. Sagar Saha ..for Union of India Mr. Sudip Kumar Dutta Mr. Siddharth Bose Ms. S. Dutta ..for SEBI Mr. Ayan Bhattacharya, learned Senior Advocate appearing on behalf of the petitioner, submits that the petitioner is ready and willing to surrender before the learned Special Judge, 5th Court, Kolkata, in connection with Spl. SEBI Case No. 32 of 2018, arising out of a complaint alleging offences under Sections 67, 68 and 55A read with Section 621 of the Companies Act, 1956, and under Sections 436 and 439 of the Companies Act, 2013, read with Section 6 of the General Clauses Act, 1897, as well as Sections 24(1), 26B and 27 of the Securities and Exchange Board of India Act, 1992. In view of the aforesaid submission, the warrant of arrest issued against the petitioner shall remain stayed for a period of two months from the date of this order, subject to the condition that the petitioner shall surrender before the learned Special Judge within the aforesaid period. Upon such surrender, any application for bail that may be filed by the petitioner shall be considered and decided by the learned Judge in accordance with law, without being influenced by this order. In the event the petitioner fails to surrender within the stipulated period, the stay of the warrant of arrest shall stand vacated automatically, and the learned Judge shall be at liberty to execute the warrant in accordance with law. Needless to mention, this Court has not entered into the merits of the prayer for quashing of the proceedings. The petitioner shall be at liberty to urge all points available to him in law at the appropriate stage. Accordingly, CRR 1419 of 2026 is disposed of. Urgent photostat certified copy of this order, if applied for, be supplied to the learned advocates for the parties on usual undertakings. (Kausik Chanda, J.) 2