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M/S Bls Sumer Jv vs Delhi State Industrial & ... on 15 November, 2022

Author: Prateek Jalan

Bench: Prateek Jalan

                          $~20
                          *    IN THE HIGH COURT OF DELHI AT NEW DELHI

                          +      OMP (ENF.) (COMM.) 122/2018

                                 M/S BLS SUMER JV                                   ..... Decree Holder
                                               Through:              Mr.   Neeraj     Kumar      Gupta,
                                                                     Advocate. [M:-9910384632].

                                                                versus

                                 DELHI STATE INDUSTRIAL & INFRASTRUCTURE
                                 DEVELOPMENT CORPORATION LTD. ..... Judgement Debtor
                                               Through: Ms. Anusuya Salwan, Mr. Bankim
                                                        Garg, Mr. Rachit Wadhwa & Mr.
                                                        Shakaib Khan, Advocates.

                          CORAM:
                          HON'BLE MR. JUSTICE PRATEEK JALAN

                                                        ORDER

% 15.11.2022

1. According to Mr. Neeraj Kumar Gupta, learned counsel for the decree holder, an amount of ₹87,95,249/- remains due from the judgment debtor- Delhi State Industrial and Infrastructure Development Corporation ["DSIIDC"] as on 31.03.2022. In support of this submission, Mr. Gupta has handed over a calculation sheet and the same is taken on record. The calculation sheet shows the following dues:-

a. Summary of amount receivable from DSIIDC as per award:-

₹1,99,493/-.

b. Statement of amount receivable on account of lower interest on FDR vis-à-vis interest rate as per order:- ₹41,11,747/-.

c. In addition to this, the statement refers to "amount receivable as excess deduction:- ₹29,55,093/-" and the interest on the total amount of ₹72,66,333/- @ 10% per annum thereupon.

2. As far as the amount of ₹1,99,493/- is concerned, Ms. Anusuya Salwan, learned counsel for the judgment debtor, states that the judgment debtor will remit the said amount to the decree holder within two weeks from today upon intimation to Mr. Gupta also.

3. As far as the amount of ₹41,11,747/- is concerned, Mr. Gupta states that the aforesaid amount is due towards the difference between the interest awarded and interest on fixed deposit under claim No. 2 [refund of performance guarantee of ₹2,46,53,656/-]. The decree holder had placed a performance guarantee in the form of Fixed Deposit ["FD"] in connection with the contract. In the award, and in the summary of the award [at page 55 of the documents filed by the decree holder], the claim No. 2 has been awarded in the sum of ₹2,46,53,656/- plus interest on FD.

4. Further claim of interest is dealt with under claim No. 10, wherein the award contemplates simple interest @ 12% per annum from 08.01.2014 till the date of the award on claim Nos. 1, 3, 4 and 5. It also contemplates further interest @ 10% per annum with effect from 45 days after the award until the payment under claim Nos. 1, 3, 4, 5, 6, 8, 9 and

10. As the award does not ex facie contain an award of interest in claim No. 2 (other than the interest on FD, which the decree holder has already received), Mr. Gupta does not press the claim of ₹41,11,747/-.

5. In respect of the amount of ₹29,55,093/-, Mr. Gupta will file an affidavit within two weeks as to the computation of the said amount and also the decree holder's up-to date claim with interest.

6. Ms. Salwan may respond to the affidavit within two weeks thereafter.

7. List on 22.02.2023.

PRATEEK JALAN, J NOVEMBER 15, 2022 'pv'/ Signature Not Verified Digitally Signed By:SHITU NAGPAL OMP (ENF.) (COMM.) 122/2018 Page 3 of 3 Signing Date:16.11.2022 12:45:32