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Delhi High Court - Orders

Sbi Capital Markets Limited vs Aravali Infrapower Limited on 24 August, 2020

Author: C. Hari Shankar

Bench: C. Hari Shankar

                            $~4 (company matter)
                            *     IN THE HIGH COURT OF DELHI AT NEW DELHI
                            +     C.A. NO. 292/2020 in CO.PET. 698/2015
                                  SBI CAPITAL MARKETS LIMITED          ..... Petitioner
                                                Through  Mr. Kunal Sabharwal, Adv. for
                                                         the applicant

                                                      versus


                                  ARAVALI INFRAPOWER LIMITED            ... Respondent
                                               Through   Mr. Kunal Sharma, Adv. for the
                                                         Official Liquidator
                                  CORAM:
                                  HON'BLE MR. JUSTICE C. HARI SHANKAR

                                                     ORDER

                                  %                  24.08.2020
                                               (Video-conferencing)

                            C.A. NO. 292/2020 in CO.PET. 698/2015

1. This application, at the instance of M/s. SS4 Safenet Security Services, seeks release to it, of an amount of ₹ 35,78,739/-, stated to be due for providing security services to M/s. Aravali Infrapower Limited, (in liquidation), during the period 22nd June, 2018 to 30th April, 2020.

2. The reply of the Official Liquidator, to the said application, acknowledges that an amount of ₹ 33,74,721/-, is verified and found payable to the applicant and further avers that, in the fund of the company (in liquidation), an amount of ₹ 6 crores is available.

3. In view thereof, the Official Liquidator is directed to defray, from the amount lying in the fund of the company (under liquidation), an amount of ₹ 33,74,721/-, due to the applicant, within a period of two weeks and to file a compliance report before this Court.

4. Mr Kunal Sabharwal, learned counsel for the applicant, seeks an opportunity to reconcile the difference between the amount claimed by his client and the amount found to have been payable by the Official Liquidator.

5. I do not, however, deem it appropriate to keep this application pending for the said purpose. The applicant is at liberty to reconcile the difference between the amount claimed by it and the amount found to be payable by the Official Liquidator and, in case the difference is found to be unjustified, the applicant may approach the Official Liquidator and attempt to have the matter reconciled at that level.

6. Needless to say, should the applicant continue to remain aggrieved, it may re-approach this Court.

7. This application stands disposed of in the aforesaid terms.

C. HARI SHANKAR, J.

AUGUST 24, 2020 r.bararia Signature Not Verified Digitally Signed By:SUNIL CO.PET. 698/2015 Page 2 of 2 SINGH NEGI Signing Date:26.08.2020 16:00:20