Delhi High Court - Orders
Jvg Finance Ltd & Ors vs Golden Gate Industries Ltd. (Formerly ... on 8 January, 2024
Author: Prathiba M. Singh
Bench: Prathiba M. Singh
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 113/2014 & CO.APPL. 5/2024
JVG FINANCE LTD & ORS. ..... Petitioners
Through: Mr. Arun Srivastava Adv. (M.
9818166510)
versus
GOLDEN GATE INDUSTRIES LTD.
(FORMERLY KNOWN AS JVG
INDUSTRIES LTD.) ..... Respondent
Through: Mr. Kunal Sharma, Adv. for OL.
Mr. Dheeraj Gupta, Adv. for Ex-
Management.
CORAM:
JUSTICE PRATHIBA M. SINGH
ORDER
% 08.01.2024
1. This hearing has been done through hybrid mode. CO.APPL.5/2024 (for directions)
2. The present application has been moved by one Shri Piyush Sharma claiming to be the ex-director of JVG Industries Ltd. (now known as Golden Gate Industries Ltd.). He challenges the auction, which has been directed in respect of Mumbai property bearing Plot no. 51, Phase-II, Marol Industrial Area, Village- Mulgaon, Taluka Andheri (E), Mumbai-40069 (hereinafter 'subject property') by e-auction fixed for 9th January 2023.
3. The sale notice dated 28th December, 2023 in respect of the subject property has been published in Hindustan Times and the auction is fixed for tomorrow.
4. The ex-management were fully heard when the said auction was CO.PET. 113/2014 Page 1 of 3 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 24/01/2024 at 22:45:59 directed. In fact, ld. Counsel for the OL submits that the ex-management had challenged the order dated 30th November, 2023 by which the auction was directed. The same was listed before the ld. Division Bench today being Company Appeal No. 29/2023.
5. As per ld. Counsel for the OL, the auction has not been stayed by the Division Bench.
6. Be that as it may, JVG Group matters are being continuously heard by this Court from time to time. All the concerned stakeholders have been appearing in the matter and are all aware of the proceedings conducted before this Court. The allegation by the Applicant- Mr. Piyush Sharma, that he was not aware and that the auction has been directed behind his back, is completely untenable. Clearly the order of the Court is that the auction would be required for the purpose of finding resolution of all the claims and other disputes, which have been raised in respect of JVG group.
7. The Court also observes that the Applicant has also merely challenged the auction notice and not the order passed by this Court dated 30 th November, 2023. Having not challenged the order dated 30 th November, 2023, the present application is not tenable and accordingly, the same is dismissed.
8. The auction for the subject property to proceed in terms of the order passed by ld. Division Bench today.
9. Ld. Counsel for the OL to place on record the order passed by the ld. Division Bench.
CO.PET. 113/201410. Considering that the matters relating to JVG group companies have been heard from time to time by this Court, and that this case also deals with CO.PET. 113/2014 Page 2 of 3 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 24/01/2024 at 22:45:59 the JVG group of companies, the present case shall be tagged along with CO.PET. 265/1998. titled Reserve Bank of India v. J.V.G. Finance Ltd.
11. List before Court on the date already fixed i.e., 30th January, 2024.
12. This shall be treated as a part heard matter.
PRATHIBA M. SINGH, J.
JANURARY 08, 2024/dk/am CO.PET. 113/2014 Page 3 of 3 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 24/01/2024 at 22:45:59