Delhi High Court - Orders
Re-M/S Jvg Finance Ltd vs Unknown on 29 August, 2024
Author: Chandra Dhari Singh
Bench: Chandra Dhari Singh
$~C-11
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 265/1998
RE-M/S JVG FINANCE LTD. .....Petitioner
Through: Mr.Ramesh Babu, Ms.Manisha Singh
and Ms.Tanya Chowdhary,
Advocates for RBI
versus
.... .....Respondent
Through: Mr.Rishi Manchanda, Standing
counsel for the OL with Mr.Arun
Kumar, Mr.Siddharth Mullick and
Mr.Lakhan Gupta, Advocates
Mr.Anil Karnwal, Advocate for R-2
in CA No. 925/2014 & CA No
522/2021
Ms.Anjaneya Singh & Ms.Vertikka
Kiran Kashyap, Advocates in CA
No.707/2024 and CA 233/2023
Mr.Bhagabati Prasad Padhy,
Advocates for applicant in CA
No.704/2024 and CA No.700/2019
Mr.Ankur Mittal and Mr.Aviraj
Pandey, Advocates for R-4 in C.A.
No. 522/2021
Mr.P.D.Gupta, Sr.Advocate with
Mr.Atul Gupta, Advocate in CA
427/2018
Mr.Dalip Mehra, Advocate in CA
617/2020
Mr.Vinayak Marwah, Advocate for
R-3 to 7 in CA No. 925/2014
Mr. Krishna Dev Jagarlamudi, Ms.
Jagriti Pandey and Mr. Vishnu
Mundada, Advocates in CA
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:44
1649/2011
Ms.Ruchi Khurana and Ms.Sakshi
Kumari, Advocates in CA 816/2023
Mr.Dalip Singh Rana (Karta of Dalip
Singh Rana HUF) - In Person in CA
617/2020
Ms.Ashu Kansal and Mr.Akash
Srivastava, Advocates in CA
1041/2014
Mr.Ashutosh Dubey, Mr.Aman
Vachher, Mr.Ashutosh Dubey,
Mr.Dhiraj, Ms.Abiti Vachher,
Mr.Akshat Vachher, Mr.Amit Kumar
and Mr.Jasvinder Choudhary,
Advocates for Applicants Hyderabad
plots owners
Mr.Gaurav Gupta, Sr.Standing
Counsel with Mr.Shivendra Singh
and Mr Yojit Pareek, Advocates for
Income Tax Deptt.
Mr.Viraj Datar, Dr.Vivek Singh,
Mr.Rakesh Kumar, Ms.Anjaneya
Mishra, Mr.Sahil Yadav, Mr.Nidish
Gupta, Ms.Gargi Sharma and
Ms.Avika Singh, Advocates for Ex-
management
CORAM:
HON'BLE MR. JUSTICE CHANDRA DHARI SINGH
ORDER
% 29.08.2024 CO.APPL. 753/2024 (Exemption) Exemption allowed subject to just exceptions.
The application stands disposed of.
CO.APPL. 704/2024.
Mr. Rishi Manchanda, learned Standing Counsel appearing on behalf This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:44 of the Official Liquidator prayed four weeks' time to file reply to the instant application. Let the same be filed within four weeks as prayed. Rejoinder thereto, if any, be filed within two weeks thereafter.
List on 12th November, 2024.
CO.APPL. 752/2024 (Directions) The instant application Under Rule 9 of the Companies (Court) Rules, 1959 has been filed on behalf of the applicant seeking following directions:
"(a) Allow the present application and list the company applications bearing No. 1718/2011, 1720/2011, 1750/2011, 1796/2011, 1798/2011, 1815/2011, 452/2012, 460/2012, 462/2012, 468/2012, 480/2012, 1406/2012, 1414/2012, 1422/2012, 1434/2012, 483/2018 and 138/2023 on 29.08.2024 i.e. the date already fixed; and/or
(b) Pass any such other/further order(s) which this Hon' ble Court may deem fit and proper in the facts and circumstances of the present case."
For the reasons stated in the application, the instant application is allowed.
The instant application stands disposed of.
CO.APPL. 886/2014, CO.APPL.1037/2014, CO.APPL.1038/2014, CO.APPL.1041/2014, CO.APPL.1042/2014, CO.APPL.1043/2014, CO.APPL.1044/2014, CO.APPL.1047/2014, CO.APPL.1048/2014, CO.APPL.1051/2014, CO.APPL.1052/2014, CO.APPL.1054/2014, CO.APPL.1055/2014, CO.APPL.1056/2014, CO.APPL.1061/2014, CO.APPL.1062/2014, CO.APPL.1063/2014, CO.APPL.1064/2014, CO.APPL.1065/2014, CO.APPL.1066/2014, CO.APPL.1067/2014, CO.APPL.1068/2014, CO.APPL.1071/2014, CO.APPL.1072/2014, CO.APPL.1181/2014, CO.APPL.1182/2014, CO.APPL.1414/2014 & CO.APPL.1415/2014
1. Mr.Akash Srivastava, learned counsel appearing on behalf of the This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:45 applicant in the aforesaid applications submitted that since the subsequent purchasers have not been given notice by the One-Man Committee and that without hearing the subsequent purchasers, the claim was rejected by the M/s Cogent Ventures (India) Limited, which is contrary to the principle of natural justice. It is submitted that the sale deed in question which was commenced between the present applicants/subsequent purchasers and M/s Cogent Ventures (India) Limited have been executed by legally appointed parties. Thus, it is prayed that this Court may decide the present applications by taking into account the facts mentioned in the One-Man Committee report.
2. Per contra, learned Standing Counsel appearing on behalf of the Official Liquidator (hereinafter referred to as "OL") submitted that the One- Man Committee has already rejected the claim of the subsequent purchasers of M/s Cogent Ventures (India) Limited and its associate companies in order to create third party rights vide report dated 25th November, 2010 and the same has been submitted before the Predecessor Bench of this Court. It is submitted that after considering the report of the One-Man Committee dated 25th November, 2010, the Predecessor Bench of this Court vide order dated 31st October, 2022 had passed a reasoned order. It is further submitted that the said report of the One-Man Committee was challenged in the application bearing CO APPL. No.922/2019, whereby the claims as alleged by the subsequent purchasers went in to the interest of M/s Cogent Ventures (India) Limited.
3. Learned Standing Counsel appearing on behalf of the OL submitted that the instant applications are also similarly placed as CO APPL. No. 922/2019 challenging the One-Man Committee report, by which the This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:45 purchaser interest of M/s Cogent Ventures (India) Limited, was rejected by the One-Man Committee. He has also placed reliance on the Paragraphs 18 to 20 and 22 of the order passed by the Predecessor Bench of this Court vide order dated 31st October, 2022 in which the reports had been perused by the Court and the learned Single Judge had accepted the report of the One-Man Committee and dismissed the said application.
4. Learned Standing Counsel appearing on behalf of the OL submitted that an appeal was filed by the subsequent purchasers of the property before the Hon'ble Division Bench of this Court and the said appeal was also rejected vide order dated 27th January, 2023. It is further submitted that M/s Cogent Ventures (India) Limited has also challenged the One-Man Committee report dated 25th November, 2010 by way of filing the application bearing CO APPL. No. 19/24 in CO.PET. 265/1998 and the said application was withdrawn by the applicant vide order dated 30th January, 2024.Thus, it is submitted that there is no merit in the instant applications filed by the subsequent purchasers as the Predecessor Bench has rejected the appeal after considering the One-Man Committee report and the same has been rejected when challenged before the Hon'ble Division Bench.
5. Heard learned counsel appearing on behalf of the parties and perused the record including the contents of the applications, One-Man Committee report and the orders dated 31st October, 2022 and 27th January, 2023.
6. This Court is satisfied with the arguments advanced by the learned Standing Counsel appearing on behalf of the OL that similarly situated persons/applicants have also challenged the One-Man Committee report, who were the subsequent purchasers and the same was rejected by the learned Single Judge as well as the Hon'ble Division Bench, which has This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:45 upheld the order passed by the learned Single Judge. Thus, this Court does not find any cogent reason to interfere at this stage, in the present applications.
7. In view of the above facts and circumstances, the instant applications stand dismissed.
CO.APPLs. 435-36/2023, CO.APPLs. 437-38/2023, CO.APPLs. 439- 440/2023, CO.APPLs. 441-42/2023, CO APPLs. 443-44/2023, CO.APPLs. 445-46/2023, CO.APPLs. 447-48/2023, CO.APPLs. 451- 52/2023, CO.APPLs. 453-54/2023, CO.APPLs. 455-56/2023 and CO.APPLs. 457-58/2023 List on 16th October, 2024.
CO.APPL. 138/2023, CO.APPL. 1637/2011, CO.APPL. 1708/2011, CO.APPL. 1710/2011, CO.APPL.1712/2011, CO.APPL.1736/2011, CO.APPL.1740/2011, CO.APPL.1742/2011, CO.APPL. 458/2012, CO.APPL. 472/2012, CO.APPL. 476/2012, CO.APPL. 1428/2012 & CO.APPLs. 75-77/2019 List on 16th October, 2024.
CO.APPLs. 306-07/2023, CO.APPLs. 308-09/2023, CO.APPLs. 310- 11/2023, CO.APPLs. 312-13/2023, CO.APPLs. 314-15/2023, CO.APPLs. 316-17/2023, CO.APPLs. 318-19/2023, CO.APPLs. 320-21/2023, CO.APPLs. 322-23/2023, CO.APPLs. 324-25/2023, CO.APPLs. 326- 27/2023, CO.APPLs. 328-29/2023, CO.APPLs. 330-31/2023, CO.APPLs. 332-33/2023, CO.APPLs. 334-35/2023, CO.APPLs. 336-37/2023, CO.APPLs. 338-39/2023 & CO.APPLs. 340-41/2023 List on 16th October, 2024.
CO.APPL. 888/2011 & CO.APPL. 700/2019 This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:45 List on 12th November, 2024.
CO.APPL. 1649/2011, CO.APPL. 1633/2011, CO.APPL. 1641/2011, CO.APPL. 1639/2011, CO.APPL. 1643/2011, CO.APPL. 1645/2011, CO.APPL. 1651/2011, CO.APPL. 1653/2011, CO.APPL. 1655/2011, CO.APPL. 1657/2011, CO.APPL. 1659/2011, CO.APPL. 1663/2011, CO.APPL. 1667/2011, CO.APPL. 1669/2011, CO.APPL. 1671/2011, CO.APPL. 1673/2011, CO.APPL. 1675/2011, CO.APPL. 1677/2011, CO.APPL. 1679/2011, CO.APPL. 1681/2011, CO.APPL. 1683/2011, CO.APPL. 1685/2011, CO.APPL. 1687/2011, CO.APPL. 1689/2011, CO.APPL. 1691/2011, CO.APPL. 1693/2011, CO.APPL. 1695/2011, CO.APPL. 1697/2011, CO.APPL. 1699/2011, CO.APPL. 1703/2011, CO.APPL. 1722/2011, CO.APPL. 1724/2011, CO.APPL. 1728/2011, CO.APPL. 1798/2011, CO.APPL. 1815/2011, CO.APPL. 2274/2011, CO.APPL. 2280/2011, CO.APPL. 2283/2011, CO.APPL. 2292/2011, CO.APPL. 2301/2011, CO.APPL. 2304/2011, CO.APPL. 2307/2011, CO.APPL. 1705/2011, CO.APPL. 1718/2011, CO.APPL. 1720/2011, CO.APPL. 1744/2011, CO.APPL. 1746/2011, CO.APPL. 1748/2011, CO.APPL. 1750/2011, CO.APPL. 1796/2011, CO.APPL. 2313/2011, CO.APPL. 1738/2011, CO.APPL. 452/2012, CO.APPL. 454/2012, CO.APPL. 456/2012, CO.APPL. 460/2012, CO.APPL. 462/2012, CO.APPL. 468/2012, CO.APPL. 470/2012, CO.APPL. 480/2012, CO.APPL. 1406/2012, CO.APPL. 1416/2012, CO.APPL. 1419/2012, CO.APPL. 1425/2012, CO.APPL. 1431/2012, CO.APPL. 1422/2012, CO.APPL. 1434/2012, CO.APPL. 483/2018, CO.APPLs. 603-608/2023, CO.APPLs. 620-22/2023, CO.APPL. 647/2023 & CO.APPL. 648/2023 List on 1st October, 2024.
CO.APPL. 669/2013 & CO.APPL. 556/2019 List on 1st October, 2024.
CO.APPL. 925/2014, CO.APPL. 427/2018, OLR 29/2023, CO.APPL. 617/2020, CO.APPL. 522/2021, CO.APPL. 579/2021, CO.APPL.
682/2021 & CO.APPL. 570/2023This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:46 List on 19th November, 2024.
CO.APPL. 862-64/2023, CO.APPL. 816/2023, CO.APPL. 594/2024, CO.APPL. 623/2024, CO.APPL. 624/2024, CO.APPL. 707/2024 & other miscellaneous applications List on 19th November, 2024.
CHANDRA DHARI SINGH, J AUGUST 29, 2024 rk/dy/mk Click here to check corrigendum, if any This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 04/09/2024 at 20:54:50