Delhi High Court - Orders
Vibhor Home Developers Private Limited vs Pnb Housing Finance Limited & Ors on 14 February, 2022
Author: Vipin Sanghi
Bench: Vipin Sanghi, Jasmeet Singh
$~21
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 2785/2022 & CM APPLs. 8025-8026/2022
VIBHOR HOME DEVELOPERS PRIVATE LIMITED
..... Petitioner
Through: Mr. Rakesh Tiku, Sr. Adv. with
Mr.Lokesh Bhardwaj, Adv.
versus
PNB HOUSING FINANCE LIMITED & ORS. ..... Respondents
Through: Mr. Sanjeev Singh and Ms. Kajal
Bhatia, Advocates for R-1.
Mr. Sanjeev Bhandari and Mr. Kunal
Dewan, Advs. for R-2 to R-8.
CORAM:
HON'BLE MR. JUSTICE VIPIN SANGHI
HON'BLE MR. JUSTICE JASMEET SINGH
ORDER
% 14.02.2022 The present writ petition has been preferred by the petitioner in the light of the fact that the DRAT is not functioning, presently, since there is no Chairperson occupying the same.
The case of the petitioner is that the petitioner was the auction purchaser in respect of a property put to auction to recover the dues of respondent No.1, from the property belonging to respondent Nos. 2 to 8. The petitioner was the highest bidder and has deposited the entire consideration amount in excess of Rs. 28 crores. The Sale Certificate dated 31.08.2020 had also been issued in favour of the petitioner by respondent No.1.
Respondent Nos. 2 to 8 challenged the said sale by preferring a Securitization Application No. 75/2020 before the DRT-II, Delhi which challenge was allowed by the DRT II vide order dated 17.09.2020. The Signature Not Verified Digitally Signed By:AMIT ARORA Signing Date:16.02.2022 19:34:49 appeal preferred by the respondent No.1 before the DRAT is pending consideration but the same has not been taken up.
In the meantime, the parties have arrived at a settlement which is contained in the application. Along with the application, the Settlement Agreement dated 12.07.2021 was placed before the DRAT, however, the DRAT has not been able to dispose of the said application. Consequently, the petitioner has still not been placed in possession of the property even though, under the settlement, the challenge to the Sale Certificate stands withdrawn by respondent Nos. 2 to 8.
In the aforesaid light, we allow the present writ petition and dispose of the same in terms of the Settlement Agreement dated 12.07.2021 arrived at between the parties. Counsels appearing for the respondent No. 1, as well as, respondent Nos. 2 to 8 state that they have no objection if the present application is allowed in terms of the Settlement Agreement. Accordingly, we set aside the order dated 17.09.2020 passed by the DRT, setting aside the sale certificate in favour of the petitioner and dispose off the same. We further direct the parties to take all consequential steps to effectuate the settlement within the next six weeks. The appeal preferred by respondent No. 1 before the DRAT also stands disposed of in terms of the settlement.
VIPIN SANGHI, J JASMEET SINGH, J FEBRUARY 14, 2022/sr Signature Not Verified Digitally Signed By:AMIT ARORA Signing Date:16.02.2022 19:34:49