Delhi High Court - Orders
M/S Jvg Finance Lte. (In Liqn.) vs Rbi on 2 February, 2021
Author: C.Hari Shankar
Bench: C.Hari Shankar
$~6 (company)
* IN THE HIGH COURT OF DELHI AT NEW DELHI
CO.APPL.67/2021 in
+ CO.PET. 265/1998
M/S JVG FINANCE LTE. (IN LIQN.) ..... Petitioner
Through: Mr. Dheeraj Gupta, Counsel for
JVG with Ms. Aneeta Sharma (AR of JVG)
versus
RBI ..... Respondent
Through: Mr. Ramesh Babu, Adv. for
RBI
Mr. Shubhendu Bhattacharya, Adv. for Mr.
Kunal Sharma, Adv. Counsel for Official
Liquidator
CORAM:
HON'BLE MR. JUSTICE C.HARI SHANKAR
ORDER
% 02.02.2021 CO.APPL.67/2021 (under Rule 9 of Companies Rules, 1959)
1. Mr. Dheeraj Gupta, learned Counsel for the former directors of the company (under liquidation), submits that the proposal to sell various parcels of land, which are subject matter of the present application and which are tabulated in a table in para 6 of the application, may not be possible at this stage, as they are subject matter of proceedings pending before this Court and in which earlier sale deeds, executed in respect of the said parcels of land are in existence. These sale deeds, submits Mr Gupta, may have to be set aside before the said parcels of land are sold. This, he submits, covers the lands at S. Nos 1 to 12 and 28 to 33 of the table.
Signature Not Verified Digitally Signed By:SUNIL SINGH NEGI CO.PET. 265/1998 Page 1 of 5 Signing Date:03.02.2021 09:56:452. Mr. Bhattacharya, learned Counsel for the Official Liquidator disputes this position.
3. Mr. Gupta, however, submits that he has no objection to the sale of the lands at S. Nos. 13 to 27 of the said table. The said entries may be reproduced thus:
Tehsil Manesar, Haryana S.No. Case No. Village Name of the Killa No. with (K- Total Area Co. M) Kanal Marla In Acre 13 27/Te h Sidhrawali JVG Foods Khewat/Khata no. 1 5 0.16 Ltd. 412, Killa No. with JVG Finance (K-M) 62/20/2/1 Ltd. (1-5) 14 35/Te h Sidhrawali JVG Leasing Khewat/Khata 18 13 2.33 Ltd. No.409, Killa JVG No.with (K-M) Housing 63/19 (8-0), 22/2(3-
Finance Ltd. 4), 23/(7-9) JVG Finance Ltd.
JVG Foods Ltd.
15 39/Te h Sidhrawali JVG Finance Khewat/Khata 6 2 0.76
Ltd. No.114, Killa
No.with (K-M)
61/1/1 (6-2)
16 40/Te h Sidhrawali JVG Hotels Khewat/Khata 4 17 0.61
Ltd. No.128, Killa
No.with (K-M)
47/16/1 (4-17)
17 32/Te h Sidhrawali JVG Finance Khewat/Khata 10 7 1.29
Ltd. No.174, Killa
No.with (K-M)
86/1/2/2/1 (6-0) 2/1
(4-7)
18 33/Te h Sidhrawali JVG Foods Khewat/Khata 2 5 0.28
Ltd. No.416, Killa
JVG Finance No.with (K-M)
Ltd. 62/20/1/1 (2-5)
19 26/Te h Sidhrawali JVG Foods Khewat/Khata 22 6 2.79
Ltd. No.348, Killa
JVG Leasing No.with (K-M)
Ltd. 99/9/2 (5-4),11 (8-
0), 12(8-0), 19/1(1-
2)
Signature Not Verified
Digitally Signed By:SUNIL
SINGH NEGI CO.PET. 265/1998 Page 2 of 5
Signing Date:03.02.2021
09:56:45
20 38/Te h Sidhrawali JVG Foods Khewat/Khata 3 0 0.38
Ltd. No.410, Killa
No.with (K-M)
63/20/1 (3-0)
21 29/Te h Sidhrawali JVT Hotels Khewat/Khata 28 0 3.5
Ltd. No.457, Killa
JVG Leasing No.with (K-M)
Ltd. 100/24/2 (7-3),
JVG Finance 108/3 (10-7), 4(10-
Ltd. 10)
JVG
Housing
Finance Ltd.
JVG Farms
Fresh Ltd.
JVG Steel (I)
Ltd.
22 28/Te h Sidhrawali JVG Foods Khewat/Khata 25 20 3.25
Ltd. No.133, Killa
JVG Farms No.with (K-M)
Fresh Ltd. 85/10/3 (1-7),
JVG 81/16/1/ (0-4), 17
Housing (8-0), 85/1 (8-0),
Finance Ltd. 10/1(0-9)
JVG Finance
Ltd.
23 36/Te h Sidhrawali JVG Finance Khewat/Khata 67 19 8.49
Ltd. No.214, Killa
JVG No.with (K-M)
Housing 102/14/1 (7-11),
Finance Ltd. 15/1 (7-11), 16/1(1-
JVG Farms 1), 103/8 (8-0), 9
Fresh Ltd. (8-0), 10 (8-0),
JVG Hotels 11/1(7-11), 12/1 (3-
Ltd. 15), 19(8-0), 20(8-
JVG Leasing 0)
Ltd.
24 78/Te h Sidhrawali JVG Steel (I) Khewat/Khata 4 2 0.51
Ltd. No.386, Killa
No.100/1/1 (4-2)
25 53/Te h Dinokari JVG Khewat/Khata 23 3 2.89
Departmental No.6, Killa No.with
Stores Ltd. (K-M)714/1 (0-19),
715/1 (0-19), 716/1
(0-7-10), 717 (1-0),
718(1-0), 760 (0-6)
26 56/Te h Dinokari JVG Leasing Khewat/Khata 1 4.5 0.15
Ltd. No.39, Killa No.
JVG Hotels with (K-M) 869/1/1
Ltd. (0-0-6),66/1 (0-0-1)
JVG Finance
Ltd.
JVG Farms
Fresh Ltd.
27 57/Te h Dinokari JVG Steel (I) Khewat/Khata 8 0 1
Ltd. No.30, Killa No.
JVG with (K-M) 693/1
Signature Not Verified
Digitally Signed By:SUNIL
SINGH NEGI CO.PET. 265/1998 Page 3 of 5
Signing Date:03.02.2021
09:56:45
Departmental (0-19-0), 694/01 (0-
Stores Ltd. 12-19)
4. In view of the fact that learned Counsel are ad idem regarding sale of the lands at S. Nos. 13 to 27 of the table in para 6 of this application, which also stands reproduced hereinabove, the Official Liquidator is permitted to issue an amended sale notice, limited to the said parcels of land, in the English edition of the Hindustan Times and the Hindi edition of the Dainik Bhaskar, as circulated in Delhi and NCR region, on 8th and 13th February, 2021. The expenses for such publication may be defrayed from the Common Pool Fund maintained by the Official Liquidator.
5. The Tehsildar, Manesar, District Gurgaon is also directed to place the aforesaid composite sale notice on the notice board of the Tehsildar's office and to assist the Official Liquidator in providing inspection of the said lands to prospective buyers.
6. Inspection of the lands would be permitted by the Official Liquidator on a convenient date and time. Auction may be conducted within one week after the inspection is over.
7. In view of the objections raised, the former directors of the company are permitted to file a response to this application, qua the lands in dispute, within a period of one week from today with advance copy to learned Counsel for the Official Liquidator who may file rejoinder thereto, within one week thereof.
8. Renotify the application qua the remaining lands on 26th Signature Not Verified Digitally Signed By:SUNIL SINGH NEGI CO.PET. 265/1998 Page 4 of 5 Signing Date:03.02.2021 09:56:45 February, 2021, the date already fixed in other applications.
C.HARI SHANKAR, J FEBRUARY 2, 2021/kr Signature Not Verified Digitally Signed By:SUNIL SINGH NEGI CO.PET. 265/1998 Page 5 of 5 Signing Date:03.02.2021 09:56:45