Filatex India
Encyclopedia
Filatex India Limited is an India
n textile
firm primarily manufacturing several grades of polyester
yarn
. It also has interests in real estate
and shopping malls. It had a turnover of Rs.
2.98 billion in financial year 2007.
.
In June 2007, the afternoon newspaper Mid-day
revealed papers that showed that the promoters of Filatex, Purushottam and Madhu Sudhan Bhageria, had become directors in the firm Harparwan Construction, set up by two sons of the then Chief Justice of India
Y K Sabharwal. This was at a time when the Supreme Court was extraordinarily active in ensuring the demolition of a large number of illegal commercial properties, which resulted in a steep rise in the price of malls.
It was felt that Justice Sabharwal's being active in such decisions when his sons were involved in this business was at best improper and at worst an attempt "to benefit his sons who entered into partnerships with shopping malls and developers of commercial complexes". Former Solicitor General KK Sud called this behaviour "the height of indiscretion.".
What business benefits the Bhageria's obtained from associating themselves with the new and unknown Harparwan Construction remains unknown.
In September 2007, four Mid-Day journalists were sentenced to prison by the Delhi High Court
for contempt of court (making such allegations about an ex-judge). This brought the matter into intense public scrutiny.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n textile
Textile
A textile or cloth is a flexible woven material consisting of a network of natural or artificial fibres often referred to as thread or yarn. Yarn is produced by spinning raw fibres of wool, flax, cotton, or other material to produce long strands...
firm primarily manufacturing several grades of polyester
Polyester
Polyester is a category of polymers which contain the ester functional group in their main chain. Although there are many polyesters, the term "polyester" as a specific material most commonly refers to polyethylene terephthalate...
yarn
Yarn
Yarn is a long continuous length of interlocked fibres, suitable for use in the production of textiles, sewing, crocheting, knitting, weaving, embroidery and ropemaking. Thread is a type of yarn intended for sewing by hand or machine. Modern manufactured sewing threads may be finished with wax or...
. It also has interests in real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and shopping malls. It had a turnover of Rs.
Rupee
The rupee is the common name for the monetary unit of account in India, Sri Lanka, Nepal, Pakistan, Mauritius, Seychelles, Maldives, and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century...
2.98 billion in financial year 2007.
Real estate imbroglio
Filatex and its sister concern, Dazzle Developers, are involved in a number of developments of commercial properties or malls in DelhiDelhi
Delhi , officially National Capital Territory of Delhi , is the largest metropolis by area and the second-largest by population in India, next to Mumbai. It is the eighth largest metropolis in the world by population with 16,753,265 inhabitants in the Territory at the 2011 Census...
.
In June 2007, the afternoon newspaper Mid-day
Mid-day
Mid Day is an afternoon daily Indian compact newspaper. Editions in various languages are published in Mumbai, Bangalore, Delhi and Pune .-Establishment:...
revealed papers that showed that the promoters of Filatex, Purushottam and Madhu Sudhan Bhageria, had become directors in the firm Harparwan Construction, set up by two sons of the then Chief Justice of India
Chief Justice of India
The Chief Justice of India is the highest-ranking judge in the Supreme Court of India, and thus holds the highest judicial position in India. As well as presiding in the Supreme Court, the Chief Justice also head its administrative functions....
Y K Sabharwal. This was at a time when the Supreme Court was extraordinarily active in ensuring the demolition of a large number of illegal commercial properties, which resulted in a steep rise in the price of malls.
It was felt that Justice Sabharwal's being active in such decisions when his sons were involved in this business was at best improper and at worst an attempt "to benefit his sons who entered into partnerships with shopping malls and developers of commercial complexes". Former Solicitor General KK Sud called this behaviour "the height of indiscretion.".
What business benefits the Bhageria's obtained from associating themselves with the new and unknown Harparwan Construction remains unknown.
In September 2007, four Mid-Day journalists were sentenced to prison by the Delhi High Court
Delhi High Court
The High Court of Delhi was established on 31 October 1966. The High Court of Delhi was established with four judges. They were Chief Justice K. S. Hegde, Justice I. D. Dua, Justice H. R. Khanna and Justice S. K. Kapur.-History:...
for contempt of court (making such allegations about an ex-judge). This brought the matter into intense public scrutiny.