Delhi High Court - Orders
Ambience Towers Pvt Ltd vs Bank Of Maharashtra And Anr on 10 January, 2022
Author: Vipin Sanghi
Bench: Vipin Sanghi, Jasmeet Singh
$~23
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 15233/2021 & CM APPL. 47951/2021, 1320/2022
AMBIENCE TOWERS PVT LTD ..... Petitioner
Through: Mr. Inderbir Alag, Sr. Adv and Sanjiv
Kakra, Sr. Adv. with Mr. V. Anush
Raajan, Mr. Abhishek Batra,
Mr.Satabdi Dash, Advs.
versus
BANK OF MAHARASHTRA AND ANR ..... Respondent
Through: Mr. Nishant Awana, Adv.
CORAM:
HON'BLE MR. JUSTICE VIPIN SANGHI
HON'BLE MR. JUSTICE JASMEET SINGH
ORDER
% 10.01.2022 We have heard learned Counsels for the petitioner and respondent at some length.
Mr. Alag submits that on account of the pandemic, several tenants at the petitioner's mall have left or have not paid their rents and that is what has created liquidity crunch. It is submitted that the account of the petitioner was regular till the year 2020.
We are informed that the monthly instalment towards the repayment of loan, when the account was regular, was in the range of Rs. 2.5 crores. Mr. Alag has submitted that the petitioner shall pay from January, 2022 onwards at the rate of Rs. 5 crores per month, which would not only cover current instalment but also reduce the arrears towards outstanding Signature Not Verified Digitally Signed By:AMIT ARORA Signing Date:13.01.2022 11:56:36 instalments and interest.
He submits that for the month of January, 2022 petitioner has either deposited, or issued cheques aggregating to Rs. 3.61 crores. He submits that a further cheque for Rs. 1.39 crores would be issued within the month of January, 2022 towards the payment of Rs. 5 crores in January, 2022. He further submits that another Rs.5 crores would be paid by the end of February, 2022.
Let the petitioner file an undertaking to this effect on record within a week. To test the bonafides of the petitioner, list on 03.03.2022. Till then the petitioner shall not be dispossessed from the asset in question, subject to compliance of the aforesaid undertaking.
VIPIN SANGHI, J JASMEET SINGH, J JANUARY 10, 2022/dm Signature Not Verified Digitally Signed By:AMIT ARORA Signing Date:13.01.2022 11:56:36