Delhi High Court - Orders
Freightstar Pvt. Ltd vs Pristine Logistics & Infraprojects ... on 4 January, 2024
Author: Prateek Jalan
Bench: Prateek Jalan
$~3
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ OMP (ENF.) (COMM.) 110/2016, EX.APPL.(OS) 530/2019
EX.APPL.(OS) 709-710/2019, EX.APPL.(OS) 815/2019 & I.A.
6223/2019
FREIGHTSTAR PVT. LTD. ..... Decree Holder
Through: Ms. Diya Kapur, Mr. Raghav
Kumar, Mr. Aditya Ladha & Ms.
Gahena Gambani, Advocates.
versus
PRISTINE LOGISTICS &
INFRAPROJECTS PVT.LTD. & ORS. ..... Judgement Debtors
Through: Mr. Alok Kumar, Senior Advocate
with Mr. Amit. Kr. Singh & Mr.
Varun Maheshwari, Advocates for
JD-2 alongwith JD-2 in Person.
[M:-9868571116].
Mr. Dhananjay Grover & Mr.
Karthek Padmanaadbhan,
Advocates for JD-5.
CORAM:
HON'BLE MR. JUSTICE PRATEEK JALAN
ORDER
% 04.01.2024
1. These proceedings are in respect of enforcement of an arbitral award dated 06.11.2015. In the course of proceedings, judgment debtor Nos. 1 and 3 have satisfied the award, to the extent that it was directed against them. The award against judgment debtor No. 2 remains to be satisfied. It is recorded in the order dated 26.07.2023 that, despite the OMP (ENF.) (COMM.) 110/2016 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 06/01/2024 at 21:54:26 passage of a long period of time since the award was passed, not a single penny has been paid to the decree holder. Show cause notice was, therefore, issued to the directors of judgment debtor No. 2 as to why they should not be arrested. Mr. Rajesh Aeren and Mr. Devender Yadav, directors of judgment debtor No. 2 are present in Court.
2. In the meanwhile, on 17.10.2023, Mr. Alok Kumar, learned Senior Counsel for the judgment debtor Nos. 2 and 4, submitted that they are inclined to make the payment to the decree holder through settlement.
3. The principal amount awarded by the arbitral award is ₹65 lakhs. The award included a further amount of ₹27,33,205/-, by way of pendente lite interest. Further interest was awarded at the rate of 15% per annum. Ms. Diya Kapur, learned counsel for the decree holder, states that the amount as of today comes to approximately ₹1.71 crores.
4. Mr. Kumar has today handed over to Ms. Kapur a cheque of ₹20 lakhs dated 11.01.2024 [cheque No. 33390538] drawn on the account of respondent No. 4. Respondent No.4 is a sister concern of respondent no.2 to which a substantial amount was transferred by judgment No. 2 during the pendency of the arbitral proceedings. Judgment debtor No. 4 was impleaded by an order of this Court dated 27.09.2019. Mr. Rajesh Aeren and Mr. Devender Yadav are also directors of judgment debtor No. 4. Mr. Kumar, instructed by the aforesaid two persons, undertakes that the cheque will be honoured upon presentation.
5. Mr. Aeren and Mr. Yadav, both directors of judgment debtor Nos. 2 and 4 as noted above, also undertake that the balance of the principal amount i.e. ₹45 lakhs will be paid within a period of four months from today i.e. 04.05.2024. They will file an undertaking in this regard, on OMP (ENF.) (COMM.) 110/2016 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 06/01/2024 at 21:54:26 behalf of respondent No. 2, within one week from today.
6. They are also directed to file on affidavit, financial statements of judgment debtor Nos. 1, 2 and 4, clearly showing the dates of transactions for sale of shares and purchase of a commercial plot mentioned in paragraph 6 of an affidavit dated 08.01.2020, affirmed by Mr. Devender Yadav, on behalf of judgment debtor No. 2, in response to I.A. 530/2019. The affidavit will also state the dates on which money was received or remitted by judgment debtor No. 2 in connection with the said transactions. Financial statements of judgment debtor Nos. 1, 2 and 4 in support of these contentions be also filed alongwith the said affidavits.
7. On the next date of hearing, the judgment debtors will also present a plan for payment of the up-to-date interest amount.
8. List on 15.05.2024.
PRATEEK JALAN, J JANUARY 4, 2024 'pv'/ OMP (ENF.) (COMM.) 110/2016 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 06/01/2024 at 21:54:26