Delhi High Court - Orders
Sh. Sameer Sharma & Ors vs M/S Triveni Infrastructure ... on 1 November, 2022
Author: Navin Chawla
Bench: Navin Chawla
$~15 (company)
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET.333/2010 & CO.APPL.2002/2012, CO.APPL.633/2022
SH. SAMEER SHARMA & ORS. .....Petitioners
Through: Ms.Archana Sharma and Mr.Kunal
Chaudhary, Advocates for
petitioner/Bhupinder Singhania
versus
M/S TRIVENI INFRASTRUCTURE DEVELOPMENT CO LTD
..... Respondent
Through: Mr.Manik Dogra, Ms.Aarohi
Mikkilineni and Mr.Dhruv Pandae,
Advs. for the ex-Management
Ms.Ruchi Sindhwai, Sr. SC with
Ms.Megha Bharara, Advs. for OL
Mr.Rajesh Yadav, Sr. Adv., with
Mr.Varun Mehlawat and
Mr.Dhananjay Mehlawat, Advs.
for the applicant/Rakesh Kasana in
CA No.2002/2012
CORAM:
HON'BLE MR. JUSTICE NAVIN CHAWLA
ORDER
% 01.11.2022 CO.APPL.633/2022
1. This is an application filed on behalf of the ex-management of the respondent-company praying for its reply to CO.APPL.2002/2012 to be taken on record.
2. Mr.Rajesh Yadav, the learned senior counsel appearing for the applicant in CA No.2002/2012, submits that he has no objection to the Signature Not Verified Digitally Signed By:SHALOO BATRA Signing Date:04.11.2022 17:00:56 application being allowed.
3. Accordingly, the application is allowed and the reply to CO.APPL.2002/2012 filed on behalf of the ex-management of the respondent-company is taken on record.
CO.APPL.2002/20124. By this application, the applicant- Mr. Rakesh Kasana prays for a direction to the respondent-company to comply with the order of this Court dated 02.05.2012 and to register/execute the Sale Deed in regard to Plot No.104-A, Village Abadi Tuglapur Haldona, near Pari Chowk, Greater Noida (U.P.) in his favour.
5. It is stated that pursuant to the Sale Notices dated 09.12.2011 {published in 'Dainik Jagran' (Hindi Edition)} and 10.12.2011{published in 'The Times of India' (English Edition)}, the subject-property was put to auction at a Reserve Price of Rs.203.85 Lakh. The applicant submitted his financial bid was accepted by this Court vide order dated 19.12.2011, also recording the statement of learned senior counsel appearing for the ex-management of the respondent-company to the effect that there is no encumbrance or outstanding liability with regard to the said property.
6. Thereafter, by an order dated 02.05.2012, the Triveni Monitoring Committee was directed to hand over the possession and execute Sale Deed in respect of the subject property in favour of the applicant. The said Sale Deed was directed to be countersigned by Mr.Madhur Mittal, the former director on behalf of the ex-management of the respondent- Company and Mr.Sameer Sharma, the petitioner, as a representative of Signature Not Verified Digitally Signed By:SHALOO BATRA Signing Date:04.11.2022 17:00:56 the unsecured creditors. The present application has been filed by the applicant seeking enforcement of the said directions.
7. Mr. Manik Dogra, the learned counsel for the ex-management, submits that while Mr.Madhur Mittal has no objection to the execution of the Sale Deed in terms of the orders of this Court, however, in the Sale Notice as also in the order of this Court dated 19.12.2011, the number/description of the property has been wrongly mentioned. Drawing reference to the Valuation Report prepared by the ITCOT Consultancy and Services Ltd., he submits that there were two plots of land which were valued by the valuer:
(i) Plot No.104-A, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh owned by M/s. Chahat Garments Pvt. Ltd. admeasuring 2502.47 sq.mtrs.; and
(ii) Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh owned by M/s.Triveni Infrastructure Development Co. Ltd. and its Group of Companies, admeasuring 1510 sq.mtrs.
8. He submits that while the first plot was commercial land and was valued at Rs.28,000/- per square meter for a total value of Rs.700.69 Lakh, with a distress sale value of Rs.527.52 Lakh, the second plot of land, that is, Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh, was a freehold residential land, valued at Rs.13,500/- per square meter, for a total value of Rs.203.85 Lakh and Rs.183.47 Lakh as distress sale value.
9. He submits that vide order of this Court dated 03.11.2011, the sale Signature Not Verified Digitally Signed By:SHALOO BATRA Signing Date:04.11.2022 17:00:56 of the abovementioned land was directed, however, in purported compliance of the said order, the Sale Notice that was published by the Triveni Monitoring Committee inadvertently mentioned the description of the land admeasuring 1510 sq.mtrs. as 'Plot No.104-A, Village Abadi Tuglapur Haldona, near Pari Chowk, Greater Noida (U.P.)' instead of 'Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh'.
10. He submits that this mistake continued in the orders of this Court dated 19.12.2011 and 02.05.2012.
11. He submits that the financial bid of the applicant was for 1510 sq. mtrs., that is, 'Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh', and, therefore, the ex-management of the respondent-company has no objection to the Sale Deed being executed with the correct description of the property, that is, Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh.
12. The learned senior counsel for the applicant submits that as there is no dispute on the location of the land and its measurement, he has no objection if the Sale Deed is executed giving the description of the property as Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh.
13. Having perused the Valuation Report, it becomes apparent that the description of the property in the Sale Notice was indeed erroneous. It should have referred to as Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh. The subsequent orders of this Court dated 19.12.2011 and 02.05.2012 carried Signature Not Verified Digitally Signed By:SHALOO BATRA Signing Date:04.11.2022 17:00:56 forward this mistake, as it was not pointed out to the Court that the description/number of the plot has been wrongly mentioned in the Sale Notice.
14. Be that as it may, as the location of the land is not in dispute and even the copy of the Khatoni produced by the learned senior counsel for the applicant refers to the land as Khata No.320 Min, the submission made by the learned counsel for the ex-management deserves acceptance.
15. Accordingly, it is directed that in compliance with the directions passed in the order of this Court dated 02.05.2012, the Sale Deed be executed in favour of the applicant by the Official Liquidator attached to this Court (who since that date has been appointed by this Court in place of the Triveni Monitoring Committee), and countersigned by Mr.Madhur Mittal, the former director on behalf of the ex-management of the respondent-company, mentioning the details of the land as Khet No.320, Village Abadi Tuglapur Haldona, Greater Noida, Distt. Gautam Buddh Nagar, Uttar Pradesh admeasuring 1510 sq.mtrs..
16. The direction for Mr.Sameer Sharma, that is, the petitioner , as a representative of the unsecured creditor, to countersign the Sale Deed is dispensed with inasmuch as the Official Liquidator (in short, 'OL'). already stands appointed for the respondent-company.
17. I may herein also note the submission of the learned counsel for the OL that the OL is not in possession of the subject land. Therefore, it would not be for the OL to ensure handing over of the physical possession of the land to the applicant herein.
18. The draft of the Sale Deed shall be produced by the applicant before the OL, who, on approval of the same, shall fix a date for Signature Not Verified Digitally Signed By:SHALOO BATRA Signing Date:04.11.2022 17:00:56 execution and registration of the said documents in consultation with the applicant. The said exercise be completed within a period of four weeks from today.
19. The application is disposed of in above terms.
NAVIN CHAWLA, J NOVEMBER 01, 2022 s Signature Not Verified Digitally Signed By:SHALOO BATRA Signing Date:04.11.2022 17:00:56