SANJAY RISHI vs UNION OF INDIA

R.C. Lahobi, J.

This application has been filed on behalf of both the petitioners seeking withdrawal of the writ petition.

This writ petition has been filed by the petitioners challenging the order dated 30-8-1996 (Annexure 1), passed u/s 269UD(1) of the Income Tax Act, 1961 (hereinafter referred to as ''the Act''). Subsequently, an order dated 28-2-1997 u/s 269UJ of the Act has also been passed. The learned counsel for the petitioners submits that the petitioners are abandoning their challenge to these orders and seeking withdrawal of the writ petition.

It is also submitted that in view of the petitioners, having given up the challenge to the orders of the appropriate authority, an amount of Rs. 49,51,496 is liable to be released to the petitioners and as per the agreement arrived at between the two petitioners, the entire amount is to be received by Om Prakash Bhasin, petitioner No. 2.

The learned counsel for the respondents has no objection to the petition being dismissed as withdrawn.

As prayed by both the petitioners, the amount of Rs. 49,51,496 along with the interest, payable as per law, shall be released to Om Prakash Bhasin, petitioner No. 2, within two weeks. An affidavit shall be filed by Sanjay Rishi, the petitioner No. 1, before the appropriate authority giving consent for the release of the amount to petitioner No. 2 alone and the appropriate authority shall satisfy itself as to the identity of Sanjay Rishi, petitioner No. 1. The affidavit shall be filed within two weeks and the amount shall be released within two weeks of the date of compliance by the petitioners.

CM is allowed and CWP is dismissed as withdrawn.