Vistra (Itcl) India ... vs Rajkumar Nagpal And Ors on 15 November, 2021

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Bombay High Court

Vistra (Itcl) India ... vs Rajkumar Nagpal And Ors on 15 November, 2021

Bench: G.S. Patel

                                           P5-IAL-26262-2021 IN COMSL-14223-2021.DOC




                   Shephali



                        IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                               ORDINARY ORIGINAL CIVIL JURISDICTION
                                     IN ITS COMMERCIAL DIVISION
                              INTERIM APPLICATION (L) NO. 26262OF 2021.
                                                      IN
                                COMMERCIAL SUIT (L) NO. 14223 OF 2021


                   Vistra ITCL (India) Ltd                                Applicant/Org.
                                                                         Defendant No. 3.
                         In the matter between
                   Rajkumar Nagpal & Ors                                      ...Plaintiffs
                         Versus
                   Reliance Commercial Finance Ltd & Ors                   ...Defendants


                   Mr Rohan Mathur, i/b Anoma Law Group LLP, for the Plaintiffs.
SHEPHALI
SANJAY             Dr Birendra Saraf, Senior Advocate, with Gautam Ankhad, Tine
MORMARE
                         Abraham, Siddharth Ranade & Samrudhi Chothani, i/b Trilegal
Digitally signed
by SHEPHALI
SANJAY
                         and for original Defendant No. 3.
MORMARE
Date: 2021.11.16   Mr Prateek Seksaria, with Subir Kumar, Disha Shah, i/b SDS
16:35:50 +0530
                         Advocates for the Defendant No. 1-Reliance
                   Mr Abhiraj Arora, with Rashi Dalmia & Karthik Narayan for
                         Defendant No. 12-SEBI.


                                           CORAM: G.S. Patel, J.

DATED: 15th November 2021 PC:-

1. Not on board. Mentioned. Taken on board.

Page 1 of 2

15th November 2021 P5-IAL-26262-2021 IN COMSL-14223-2021.DOC

2. This seeks a clarification of my order of 28th October 2021 and particularly paragraph 14. It is clarified that I have not, by that paragraph, directed that the meeting that is to be held should be in deviation from the terms of the Debenture Trust Deed. I also clarified that at no time had any of the party made any submissions on the basis of any later or Supplementary Trust Deed.

3. Obviously, the Supplementary Trust Deed will have to be read with the previous three Trust Deeds in a coherent and consistent manner. . A mere reference to SEBI circulars will not and cannot override the express terms of any of the Trust Deeds.

4. The 30 day period will commence from today in view of this clarification.

5. All concerned will act on production of a digitally signed copy of this order.

(G. S. Patel, J) Page 2 of 2 15th November 2021

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