(Editor’s Note: This investigation on Sanjay Kishan Kaul is the first in a series of articles which will explore judicial corruption and impropriety specifically in connection with Sahul Agarwal. The stories are based on whistleblower accounts and documents)

Following is the abridged version of the investigation. The full investigation can be read at Chapter 1 Magazine: LINK

There are some secrets that are known but often unspoken. Not because those who know don’t want to speak about it, but because the price they may pay for breaking the omerta is too high, the consequences too serious. Corruption in the judiciary is one such subject. We often convince ourselves that judges are pristine, incorruptible, and virtuous because acknowledging corruption in the high judiciary essentially means that justice, that people so desperately seek, is often turned into a tradeable commodity by those sworn to righteousness. The truth, however, is often uncomfortable, no matter how much we may want to look away. 

If one works in Delhi, especially as a journalist, one hears several stories. One story you’re bound to hear after you make friends with some chatty folks who love to talk about their connections is how they meet, wine and dine in hotels, cut deals, and walk away with exactly what they want. These “professional” exchanges occur either for cash or kind. And these “deals” aren’t above board. In such circles, the law is often viewed as a highly elastic polymer.  

So, what exactly happens at the Hyatt? Who owns and funds this hotel? What deals are cut, who benefits from these deals and who loses? What do these deals, by those with immeasurable power, say about the state of our Judiciary? Has Justice become a commodity, sold to the highest bidder (or those with files containing dirty little secrets)? Have the Justices been compromised? 

We may not have many answers – yet. But when Hyatt and the entity which owns it are investigated, we do get a glimpse into the underbelly of the justice marketplace. 

This is the story about Justice Sanjay Kishan Kaul. The same Sanjay Kishan Kaul, who has recently become concerned about the independence of the judiciary and judicial propriety, has connections that raise serious questions not only about his independence, but about his integrity itself. 

The story concerns the properties of Sanjay Kishan Kaul in Srinagar, the hotels he allegedly owns, who seems to have paid to have those properties constructed, his daughter and son-in-law, and a businessman deeply linked to his family. This story concerns an investigation into the said businessman allegedly routing money to construct hotels owned by the family of Sanjay Kishan Kaul. 

Executive Summary

While Justice Sanjay Kishan Kaul sat on the Supreme Court of India, his house in Srinagar was being rebuilt as a hotel. His son-in-law’s company now runs it. And the money, the builder and the architect that seem to be behind that hotel venture lead back to one man: Sahul Agarwal, a Dubai-based businessman with almost no public footprint, whom our sources describe as a man with close ties to the judiciary. His wife now controls the Hyatt Regency Delhi, but has exerted significant power in Asian Hotels (North) Limited (AHNL) since at least 2020, owing to family ties to the promoters and one Director. 

Every outside lender to Sanjay Kishan Kaul son-in-law’s company is tied to Sahul Agarwal’s family. So is the company that paid its alleged builder, and so is the client named on its architect’s contracts that OpIndia has accessed through a whistleblower. 

Throughout, the daughter of Justice Sanjay Kishan Kaul was in court for the Hyatt’s owner, in nearly 300 court orders from 2021. That includes Supreme Court hearings – all of this while her father was a Supreme Court judge himself. After he retired, she appeared for Sahul Agarwal’s mother.

While his daughter represented AHNL (a company that now owns Hyatt and Sahul has been significantly influenced since 2020), Justice Kaul, still a Supreme Court judge, was photographed in Kashmir in 2022 with Sahul Agarwal. 

The year 2022 becomes important. Several transactions, contract notes and threads originate in this year – right around the time Justice Kaul was pictured with Sahul Agarwal in Kashmir. 

As a Supreme Court judge, Justice Kaul never disclosed his assets. He has not explained any of this.

The house of Sanjay Kishan Kaul became his son-in-law’s hotel

• Pratap Villa, in Rajbagh, Srinagar, was registered with Kashmir’s tourism department as a guest house “in the name of Mr. Kanwar Sanjay Kishan Kaul & others”. That is by his own public notice. The registration ran until March 2018, after he joined the Supreme Court in February 2017.
• Photographs obtained from whistleblowers show the villa being rebuilt in 2022. Justice Kaul was then a sitting Supreme Court judge, and from November 2022 was the court’s second most senior.
• Kaul Hotels Pvt Ltd was incorporated in 2023, his last year on the bench. His son-in-law, Adit Khorana, owns 99.99% of it. The one remaining share belongs to Bilal Ahmed Sofi, a man with no public trace. The company’s registered office is Pratap Villa.
• Days after retiring in December 2023, Justice Kaul told ETV Bharat that he had gone back to Kashmir and redone his house for the hospitality sector.
• In October 2025, he applied to transfer the guest house’s title from “Sanjay Kishan Kaul & others” to “Kaul Hotels Pvt. Ltd. (The Pratap Villa)”.
• Kaul Hotels’ general manager says the company runs three luxury hotels: at Rajbagh, Nigeen Bagh and Tan marg. Tan Marg is where Justice Kaul has ancestral land, which he went to court in 2007 to protect.

The asset is the judge’s own house. His son-in-law owns the company that profits from it. The company receives large sums of money from Sahul Agarwal fronts.

The man in the photograph with Sanjay Kishan Kaul – Sahul Agarwal

• OpIndia has a photograph of Justice Kaul with Sahul Agarwal. According to our sources, it was taken in Kashmir in 2022, the same year Pratap Villa was being rebuilt.
• Sahul Agarwal is reportedly a Grenadian citizen based in Dubai and has almost no trace online. In Delhi’s legal circles, we are told he is described as a wheeler-dealer with contacts in the judiciary.
• His wife, Shreya Agarwal, has been a shareholder in Asian Hotels (North) Ltd (AHNL), the Hyatt’s owner, since September 2020. That was while the Jatia group ran it. From September 2022 to March 2024, AHNL’s own filings listed her as the relative of one of its directors. The only director that fits is Akhilesh Bhuwalka. He joined the board in June 2020, the quarter before she appeared, and shares three family companies with Sanjay Bhuwalka, who our whistleblower says is her father. When he resigned in May 2024, AHNL stopped describing her as a director’s relative. A court filing in a matrimonial case also describes her as the cousin of Amritesh Jatia, AHNL’s former chairman.
• In March 2024, she bought 18.9% of AHNL from a Jatia company. In early 2026, AHNL issued ₹765 crore of new shares to her Singapore company, Elana Holdings, under a SEBI route for stressed companies that required no open offer. Together they now hold 64.35%. AHNL’s 2025-26 annual report says it has “no promoter”, and on the same page calls itself a subsidiary of Elana.

Sahul Agarwal’s circle financed the company of the son-in-law of Sanjay Kishan Kaul

Kaul Hotels’ audited accounts list unsecured loans from Adit Khorana himself and from three outside lenders. Each of the three leads back to Sahul Agarwal.

Lender	Loan to Kaul Hotels	Link to Sahul Agarwal
Evaan Holdings	₹66.52 lakh (31 March 2024)	90% owned by his parents; his wife is a shareholder. First directors: his mother and Sanjay Bhuwalka. Registered at an address inside the Hyatt Regency.
Angel Expanders	₹1.01 lakh (2024), ₹13 lakh (2025)	Run by Sumit Shyam Lulla, whom our whistleblower describe as Sahul’s frontman, and his mother-in-law. It later held 4.03% of Hyatt.
Standard Capital Markets	₹1.50 crore (31 March 2025)	Its MD, Ram Gopal Jindal, sat on the board of Sahul’s company in 2016, when his family bought their shares from Sahul and his father. His son chaired Standard Capital until March 2026.

• The swap. In one year, the lenders changed. By March 2025, Evaan’s loan had vanished and Adit Khorana’s own loan had fallen from ₹60 lakh to ₹15 lakh. Standard Capital, absent the year before, now held ₹1.50 crore, about 84% of all unsecured debt. The accounts do not say whether Standard Capital’s money paid off Evaan and Khorana. The timing demands an explanation.
• The lender’s record. In October 2024, Standard Capital bought a ₹150 crore loan owed by Veer Chemicals. Days later, Veer defaulted for the first time. Sumit Shyam Lulla (Sahul Agarwal’s frontman) and his mother-in-law then joined Veer’s board, and Standard Capital pushed the company into insolvency. Separately, before the NCLAT, the Exclusive group alleges that in October 2023, AHNL’s loan rights were moved to Standard Capital without board approval, and that Sahul’s parents were behind it.

The Hyatt’s owner paid the alleged builder; Sahul’s father-in-law hired the supposed architect

• The builder. Kaul Hotels owes ₹49.69 lakh to BL Projects, a construction firm. BL Projects’ bank statements (acquired from the whistleblower) show it received ₹1.16 crore from AHNL, the Hyatt’s now owner, in ten payments between April 2022 and July 2023, while Justice Kaul was a Supreme Court judge. Angel Expanders paid it almost ₹4 lakh more. According to its own documents, AHNL has no hotel in Kashmir.
• The Agarwals were already inside. The Jatia group ran AHNL then, but Shreya Agarwal (wife of Sahul Agarwal) was already on its register, listed as a director’s relative. In October 2022, in the middle of those payments, Evaan Holdings was incorporated with Sahul’s mother and Sanjay Bhuwalka as its first directors, and its registered office inside the Hyatt Regency.
• The architect. OpIndia holds two contract notes from 2022 by Architecture Discipline, a Delhi firm, sourced from the whistleblower. One is for a 50-room, 90,000 sq ft hotel at Tan Marg (a ₹2 crore fee). The other is for an 18,000 sq ft villa with up to eight houseboats at Nigeen Bagh (₹1 crore, against a ₹15 crore build budget). Both name the client as “Mr. Sanjay Bhuwalka, M/s Sulojay Realty Pvt. Ltd.”
• Sulojay paid the architect. Sulojay’s own books show Architecture Discipline among its creditors, with ₹40.35 lakh paid. Until June 2022, Sulojay was owned by Bhuwalka and Sahul Agarwal’s parents, who lent it ₹28.30 crore and ₹32.46 crore. Sulojay lent ₹75 lakh to AHNL. After it was sold in June 2022, the NCLAT records that about ₹55.66 crore was paid out to members of the Agarwal family.
• The sites. OpIndia found no hotel run by Sulojay or Bhuwalka at Tan Marg or Nigeen Bagh as the contract note states. Kaul Hotels’ general manager lists three properties as the hotels he manages. He mentions Raj Bagh (Where Pratap Villa is), Tan Marg and Nigeen Bagh (both mentioned in the Architecture Discipline contract notes). 

The sites in the contract notes are exactly where the Kaul Hotel manager says the hotels are. We suspect the money came from Sahul Agarwal’s circle.

Daughter of Sanjay Kishan Kaul, the Agarwals’ lawyer, on both sides of his retirement

• Aakanksha Kaul, Justice Kaul’s daughter, appears as counsel for AHNL in nearly 300 court orders from August 2021 onwards. They include Supreme Court hearings in 2022 and 2023 while her father sat on that court, though not on his benches. The Supreme Court’s record of 13 January 2023 lists both her and her husband, Adit Khorana (also the owner of Kaul Hotels), for AHNL.
• In September 2026, she appeared in the Supreme Court for Kanta Agarwal, Sahul Agarwal’s mother, on three dates. A member of that legal team also represented Sanjay Bhuwalka.
• For five years, from 2021 to 2026, the judge’s daughter has worked for the Hyatt’s now owner and the Agarwal family, while Sanjay Kishan Kaul was a Supreme Court judge and also, after his retirement.

Essentially, while Sanjay Kishan Kaul sat as a judge in India’s highest court, his daughter was representing a certain company as a lawyer in the same court and it seems like that very company was building/financing high value luxury hotels for the judge’s family.

Measured against the judges’ own code

In 1997, the Supreme Court adopted the Restatement of Values of Judicial Life, the code of conduct for India’s higher judiciary.

• Trade or business. Value 13 says a judge “should not engage directly or indirectly in trade or business”. Pratap Villa was a registered guest house in Justice Kaul’s name while he sat on the Supreme Court. It was rebuilt as a luxury hotel in 2022, while he was still a judge, for his son-in-law’s company to run.
• Gifts and hospitality. Value 10 says a judge “shall not accept gifts or hospitality”, beyond narrow exceptions for family and friends. If the rebuilding of the judge’s own house was paid for, directly or through his son-in-law’s company, by people tied to Sahul Agarwal, this rule is at the heart of the case.
• Family at the Bar. Value 4 keeps a judge’s family away from cases he hears. His daughter appeared before other benches, and OpIndia has found no breach on that count. But the code exists to keep a judge’s family and his court apart. Here, his daughter spent years representing a company the family of a man photographed with him had already entered.
• Assets. From 2009, Supreme Court judges were free to publish their asset declarations, and several did. Justice Kaul, who had publicly declared eight properties as a High Court judge in 2010, did not.

How it unfolded

When	What happened	Justice Kaul was
Before 2018	Pratap Villa is a registered guest house in his name	A Supreme Court judge (from Feb 2017)
Sep 2020	Shreya Agarwal enters AHNL’s share register	A Supreme Court judge
Aug 2021	His daughter starts appearing for AHNL	A Supreme Court judge
2022	Photographed with Sahul Agarwal (per sources); Pratap Villa rebuilt; architect hired for Tan marg and Nigeen Bagh by Sulojay; AHNL starts paying BL Projects	A Supreme Court judge
2023	Kaul Hotels incorporated; AHNL’s payments to BL Projects continue to July	A Supreme Court judge, until December
Dec 2023	Says he has redone his Kashmir house for hospitality	Retired
Mar 2024	Evaan, the Agarwal family company, has lent Kaul Hotels ₹66.52 lakh; Shreya buys 18.9% of AHNL	Retired
Mar 2025	Standard Capital holds ₹1.50 crore, 84% of Kaul Hotels’ unsecured debt	Retired
Oct 2025	He applies to move Pratap Villa to Kaul Hotels	Retired
2026	The Agarwals control the Hyatt; his daughter appears for Sahul’s mother	Retired

What the documents add up to

Put the documents side by side and one picture emerges.

While Justice Kaul was a Supreme Court judge, several things happened at once, especially in the year 2022. His house was being rebuilt as a hotel. The Hyatt’s owner, already home to Sahul Agarwal’s wife, was paying a builder that now counts Kaul Hotels among its clients. A company owned by Sahul’s father-in-law and parents was hiring an architect for hotels at sites his son-in-law’s company, the GM says, runs. And his daughter was in court for the Hyatt’s owner.

After he retired, companies tied to Sahul Agarwal financed his son-in-law’s company, and the judge moved his house into it or, the company was moved to his house.

The asset is the judge’s. The company, on paper, is his son-in-law’s. The lenders and the architect’s client trace back to Sahul Agarwal’s circle, and the alleged builder’s paymaster is the company his wife now controls.

That is the pattern of a sitting Supreme Court judge whose family’s private property became financially entangled, through his son-in-law, with a businessman, beginning while he was in office. Whether it was a favour, a payment or a business arrangement, and what, if anything, Sahul Agarwal received in return, are questions only Justice Kaul can answer. OpIndia has found no document showing money paid to him personally, or a judgment of his that favoured the Agarwals. It does not need one to demand answers. A judge of India’s highest court is expected to be above suspicion. On these documents, he is not.

Caesar’s wife must be above suspicion. Justice Kaul has much to explain.

What Justice Kaul must answer

1. Pratap Villa. It stood in your name and your family’s, and was rebuilt in 2022 while you sat on the Supreme Court. Who paid for that work, and how much did it cost?
2. Sahul Agarwal. When and where were you photographed with him, and how often did you meet him while you were a judge? Were your family’s Kashmir properties ever discussed with him?
3. The loans. Did you know your son-in-law’s hotel company was being funded by Evaan Holdings, a company owned by Sahul Agarwal’s parents and registered inside the Hyatt Regency, and by Angel Expanders, run by a man described as his frontman?
4. The swap. Did Standard Capital’s ₹1.50 crore pay off Evaan’s loan and your son-in-law’s own? Who arranged the switch?
5. The builder. BL Projects, which Kaul Hotels owes ₹49.69 lakh, received ₹1.16 crore from AHNL while you sat on the court. AHNL has no property in Kashmir. Was any of that money spent on your family’s properties?
6. The architect. Why was Sahul Agarwal’s father-in-law, through Sulojay Realty, the client on architecture contracts for hotels at Tan marg and Nigeen Bagh, the very sites your son-in-law’s company now runs, and where you hold ancestral land? Are they the same hotels?
7. Disclosure. While your daughter appeared for AHNL in the Supreme Court, did you disclose your family’s ties to AHNL and the Agarwal family to the Chief Justice? Did you step aside from any matter involving them?
8. Assets. You declared your Kashmir properties publicly in 2010. Why did you never publish your assets as a Supreme Court judge, while one of those properties was being turned into a hotel? Did your confidential declaration to the Chief Justice mention it?
9. The transfer. On what terms, and at what valuation, is Pratap Villa being moved to Kaul Hotels? Is your family being paid for it by a company funded through Sahul Agarwal’s circle?
10. Bilal Ahmed Sofi. Who is he, and why does he hold the one share in Kaul Hotels that your son-in-law does not?
11. For Adit Khorana. If these loans were payment for legal work, why were they paid as unsecured loans to a hotel company rather than as fees to a lawyer?
12. Did you introduce any other judges to Sahul Agarwal? Were any judgments ever discussed with him? 

Timeline

Justice Sanjay Kishan Kaul, Sahul Agarwal and the money: 2022–2025

How the dates are marked

• No mark: the exact date is known.
• † Only the month is known. The date is set to the 1st of that month, unless a note says otherwise; the exact date is unknown.
• ‡ Only the year, or a financial year, is known. The date is set to 1 January of that year, unless a note says otherwise; the exact date is unknown.

2022

Date	Event	Note on the date
1 Jan 2022 ‡	Justice Kaul is photographed with Sahul Agarwal in Kashmir (per sources).	We know they met in 2022 but not the exact date, so the date is taken as 1 January 2022.
1 Jan 2022 ‡	Pratap Villa is under construction (photographs from local sources) while Kaul sits on the Supreme Court.	The photographs are dated only to 2022.
1 Jan 2022 ‡	Architecture Discipline’s contract notes: a 50-room hotel at Tan marg (₹2 crore) and a villa with houseboats at Nigeen Bagh (₹1 crore). Client: Sanjay Bhuwalka, Sulojay Realty.	The notes are dated only to 2022.
1 Jan 2022 ‡	Aakanksha Kaul appears for AHNL in Supreme Court hearings.	Hearings during 2022; individual dates not listed.
1 Jan 2022 ‡	Sulojay takes unsecured loans from Angel Expanders and Sahul Agarwal’s parents, and lends ₹75 lakh to AHNL.	2021–22
1 Jan 2022 ‡	Exclusive Capital lends AHNL ₹2.5 crore and ₹1.66 crore.	2021-22
14 Jan 2022	Exclusive Capital lends Sulojay ₹5 crore, while the Bhuwalka and Agarwal families still own it.
11 Apr 2022	AHNL makes the first of ten payments to BL Projects.
1 May 2022 †	Sanjay Bhuwalka’s loans to Sulojay end, totalling ₹7.47 crore since April 2021.	April 2021 to May 2022
2 Jun 2022	The Bhuwalka and Agarwal families sell all of Sulojay to Exclusive Motors (Satya Prakash Bagla). Bhuwalka resigns; Bagla and Achal Kumar Jindal take control.
4 Jun 2022	Exclusive Capital lends Sulojay another ₹12 crore.
30 Jun 2022 †	Sulojay pays about ₹55.66 crore to members of the Agarwal family towards their loans (NCLAT).	The NCLAT records only that this came after the June 2022 change of management. We have taken it as June 2022, but cannot be sure of the month. Set to 30 June, not 1 June, because the payout followed the 2 June sale.
30 Jun 2022	Shreya Agarwal’s AHNL stake rises to 2.08%. Exclusive Capital holds 3% of AHNL and Exclusive Motors 1.25%.	Quarter ending June 2022.
25 Aug 2022	Ram Gopal Jindal becomes Managing Director of Standard Capital Markets.
5 Sep 2022	Kanta and Suresh Agarwal buy 1,17,325 shares each in Exclusive Capital.
30 Sep 2022	Shreya’s stake reaches 2.98%. AHNL first lists her under “Directors and their relatives”.	Quarter ending September 2022.
26 Oct 2022	Evaan Holdings is incorporated. First directors: Sanjay Bhuwalka and Kanta Agarwal. Registered office inside the Hyatt Regency.
9 Nov 2022	Justice Kaul becomes the Supreme Court’s second most senior judge.
28 Dec 2022	Exclusive Capital takes over all of IndusInd Bank’s loans to AHNL, including a ₹100.58 crore term loan.
31 Dec 2022	AHNL’s governance filing lists six directors, including Akhilesh Bhuwalka, the only non-independent, non-executive director.	Quarter ending December 2022.

2023

Date	Event	Note on the date
1 Jan 2023 ‡	Aakanksha Kaul continues appearing for AHNL in the Supreme Court; Adit Khorana appears alongside her.	Hearings during 2023.
1 Jan 2023 ‡	Kaul Hotels Pvt Ltd is incorporated in Kashmir.
13 Jan 2023	A Supreme Court record lists Aakanksha Kaul and Adit Khorana together for AHNL.
31 Mar 2023	The Jatia promoter group holds 50.69% of AHNL.	End of FY 2022-23.
21 Jul 2023	AHNL makes its last payment in the April 2022 – July 2023 series to BL Projects, totalling ₹1,16,39,064.
1 Oct 2023 †	Allegation by the Exclusive group before the NCLAT: AHNL’s loan rights were assigned to Standard Capital without board approval.
25 Dec 2023	Justice Kaul retires from the Supreme Court.
29 Dec 2023	In an ETV Bharat interview, Kaul says he went back to Kashmir and redid his house for the hospitality sector.
31 Dec 2023 ‡	Evaan Holdings lends Kaul Hotels ₹66.52 lakh, unsecured.	The loan was made in FY 2023-24, but its exact date is unknown, so we have taken it as 31 December 2023. Justice Kaul retired on 25 December 2023. If the money came before that date, Kaul Hotels took it while he was a sitting Supreme Court judge; if after, within weeks or months of his retirement. Only the transaction date, which we do not have, can settle this.

2024

Date	Event	Note on the date
20 Mar 2024	Shreya buys 36,76,700 AHNL shares (18.90%), taking her stake from 2.98% to 21.88%. Suresh and Kanta Agarwala named as acting in concert. Yans sold 20.97% to Shreya and Manohar Tikamdas Ruprell.
31 Mar 2024	AHNL lists Shreya as a director’s relative for the last time.	Quarter ending March 2024.
31 Mar 2024	The Jatia promoters have diluted their entire stake (AHNL auditor’s report).	End of FY 2023-24.
31 Mar 2024	Kaul Hotels’ accounts: unsecured loans from Evaan (₹66.52 lakh), Adit Khorana (₹60 lakh) and Angel Expanders (₹1,01,120), about ₹1.27 crore in total. About ₹49.70 lakh payable to BL Projects.	Year-end balances; the dates of the loans themselves are not shown.
1 May 2024 †	Executive director Ashish Dhanuka leaves AHNL’s board.	May 2024
6 May 2024	Akhilesh Bhuwalka resigns from AHNL’s board.
30 Jun 2024	Shreya is listed as an NRI, no longer as a director’s relative. Angel Expanders holds 7,84,284 AHNL shares (4.03%).	Quarter ending June 2024.
1 Oct 2024 †	Standard Capital buys a ₹150 crore loan owed by Veer Chemicals. Days later, Veer defaults.	October 2024
1 Nov 2024 †	Sumit Shyam Lulla and Pushpa Dutta join Veer’s board; Standard Capital starts insolvency proceedings.

2025

Date	Event	Note on the date
1 Jan 2025 ‡	Kanta Agarwal is an AHNL shareholder.
1 Jan 2025 †	Angel Expanders pays BL Projects almost ₹4 lakh.	The article gives January 2025; the exact date is unknown.
31 Mar 2025	Kaul Hotels’ accounts: Standard Capital ₹1,50,03,510 (84.27% of ₹1,78,03,510 in unsecured loans). Evaan’s loan gone; Adit Khorana’s down to ₹15 lakh; Angel Expanders’ up to ₹13 lakh. The ₹49.70 lakh owed to BL Projects carried forward unchanged.	Year-end balances.
31 Mar 2025	Kaul Hotels’ auditor’s report: Adit Khorana 99.9999%, Bilal Ahmed Sofi one share. Directors: Smita Khorana and Sofi.
1 Jun 2025 †	Tripurari Singh becomes Kaul Hotels’ general manager, opening three hotels at Rajbagh, Nigeen Bagh and Tan marg.	From his professional profile
1 Oct 2025 †	Kaul applies to Kashmir’s tourism department to transfer the Pratap Villa Guest House from “Sanjay Kishan Kaul & others” to Kaul Hotels.
16 Oct 2025	AHNL issues its EGM notice for a preferential allotment of up to 2,31,80,000 shares to Elana Holdings.
28 Oct 2025	Kaul’s application is published as a public notice in Greater Kashmir.

2026

Date	Event	Note on the date
March 2026	By this date, AHNL has paid BL Projects over ₹2 crore in total, roughly ₹84 lakh more than the April 2022 – July 2023 payments.

Family connections

To understand this layered investigation better, we are providing family ties for reference. Following this could make it simpler to understand the connections mentioned in the story. 

The Judiciary in India often mistakes itself for contemporary Gods. They dispense judgements – moral and legal – and the sheep are meant to simply bow their heads and accept their fate – sealed by the Gods in black coats. They expect resolute loyalty and submission, much like the vengeful Abrahamic God who would smite anyone who dares to disobey. Questioning the Judiciary is quite literally akin to religious blasphemy. While in some faiths, one may be rewarded by unbridled violence, when it comes to the Gods in black coats, heathens are smitten with contempt. 

As the saying goes, and we must thank Plutarch for making our jobs easier, Caeser’s wife must be above suspicion. But when it comes to the Judiciary, the multiple wives of Caesar are soaked in the putrid odour of corruption and impropriety. It’s time our Lords and Saviours pick up a soap, wash that odour off their extremities and provide answers to the very heathens they judge.