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Tommorrowland Limited vs Navoday Management Services Limited on 13 July, 2022

Author: V. Kameswar Rao

Bench: V. Kameswar Rao

                              $~45
                              *    IN THE HIGH COURT OF DELHI AT NEW DELHI
                              +    EX.P. 54/2022 & EX.Appls.(OS) 3163-3164/2022
                                   TOMMORROWLAND LIMITED
                                                                                ..... Decree Holder
                                                    Through: Mr. Pavan Sachdeva and Mr. Ishan
                                                               Sachdeva, Advs. with decree holder
                                                               in person

                                                        versus

                                    NAVODAY MANAGEMENT SERVICES LIMITED
                                                                    ..... Judgment Debtor
                                               Through:

                                    CORAM:
                                    HON'BLE MR. JUSTICE V. KAMESWAR RAO
                                                 ORDER

                              %                  13.07.2022

                              EX.Appl.(OS) 3164/2022
                                    Allowed, subject to just exceptions.
                                    Application disposed of.
                              EX.P. 54/2022 & EX.Appl.(OS) 3163/2022

1. This execution petition has been filed seeking execution of the judgment/decree dated April 27, 2022 in the suit (in terms of the award) filed by the decree holder.

2. Mr. Sachdeva fairly states that the judgment/decree dated April 27, 2022 of which execution is sought is under challenge by him before the concerned Court for a higher amount. He also states nothing precludes the decree holder to maintain this execution in respect of the amount granted by the Court in the judgment/decree dated April 27, 2022.

3. Mr. Pavan Sachdeva states that as of today an amount of ₹26,66,176. 46 is due and payable by the judgment debtor. He seeks interim protection by drawing my attention to page 12 & 13 of the petition, which shows the judgment debtor owns 6,400 shares of Amrut Milk Product Ltd., 87,200 shares of Asitatic Infrastructure & Shelters Ltd., 3,700 shares of AVI Industries Ltd., 3,08,800 shares of Dr. Softech & Industries Ltd., 1,400 shares of Filaments India Ltd., 100 shares of G.R. Magnets Ltd., 8,286 shares of Gontermann Peipers India Ltd., 9,500 shares of Gupta Carpet International Ltd., 200 shares of Hind Development Corporation Ltd., 16,700 shares of Inland Printers Ltd., 600 shares of Jhagadia Copper Ltd., 6,500 shares of Kedia Distilleries Ltd., 13,900 shares of Moulik Finance & Resort Ltd., 110 shares of Nagarjuna Fertilizers & Chemicals Ltd., 100 shares of Nagarjuna Oil Refinery Ltd., 225 shares of Nath Pulp & Paper Mills Ltd., 1,200 shares of NEPC India Ltd., 25,400 shares of Nova Pumech Ltd., 1,43,200 shares of Pitampur Polyproduct Ltd., 600 shares of Rama Petrochem Ltd., 300 shares of Real Value Appliances Ltd., 5,200 shares of Redex Protech Ltd., 29,200 shares of Ritesh Polyster Ltd., 69,650 shares of Sterling Guarantee Ltd., 1,000 shares of Symphony Sanskrut Comf System Ltd., 2,800 shares of UBE Industries Ltd. (Weldflux India Ltd.). He prays that the judgment debtor be restrained from selling/disposing of the shares to the extent of the above decretal amount.

4. Noting the said submission, issue notice to the judgment debtor returnable on November 9, 2022.

5. The judgment debtor is restrained from selling/disposing of the above shares to the extent of decretal amount as reflected above till the next date of hearing.

6. The judgment debtor shall also file an affidavit of assets under Order XXI Rule 41 (2) CPC within three weeks from the date of receipt of notice.

V. KAMESWAR RAO, J JULY 13, 2022/ds Signature Not Verified Digitally Signed By:ASHEESH KUMAR YADAV Signing Date:14.07.2022 16:39:51