Delhi High Court - Orders
Ntpc Ltd vs Tecpro Systems Ltd on 16 February, 2026
$~18
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P. (COMM) 128/2025 & I.A. 7047/2025 (Stay)
NTPC LTD .....Petitioner
Through: Mr. Sanjay Jain, Senior
Advocate along with Mr.
Naman Jain, Mr. Manish Tiwari
and Ms. Harshita Sukhija,
Advocates.
versus
TECPRO SYSTEMS LTD .....Respondent
Through: Mr. Anirudh Krishnan, Mr. K.
Shiva, Mr. Saurabh Ankit and
Mr. Pranay Prakash, Advocates.
CORAM:
HON'BLE MR. JUSTICE HARISH VAIDYANATHAN
SHANKAR
ORDER
% 16.02.2026 I.A. 7155/2025 (Ex. From filing lengthy synopsis and list of dates)
1. Allowed, subject to all just exceptions.
2. The Application stands disposed of.
I.A. 17157/2025 (Seeking withdrawal of the monies deposited by the petitioner)
3. The present Application has been filed by the Respondent/Applicant under Section 151 of the Civil Procedure Code, 1908, read with Section 36 of the Arbitration and Conciliation Act ["the Act"], 1996, seeking permission to withdraw the monies deposited by the Petitioner.
4. It is stated that, in pursuance of the Order dated 19.03.2025, an amount of approximately Rs. 230/- Crores stands deposited before the Registrar General of this Court.
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 18/02/2026 at 20:35:59
5. By way of the present Application, the Respondent/Applicant seeks withdrawal of the aforesaid deposited amount. Learned counsel appearing for the Respondent submits that the relief as prayed for may be granted inasmuch as the Committee of Creditors for the Respondent-company, being Tecpro Systems Ltd., which is stated to be undergoing liquidation process, has also undertaken to furnish a bank guarantee for the entire amount sought to be withdrawn.
6. Mr. Sanjay Jain, learned Senior Counsel appearing for the Petitioner, opposes the aforesaid prayer and submits that he seeks time to file a reply to the present application to put forth the serious prejudice that would be caused to the Petitioner in the event the said relief as sought is granted.
7. Issue notice.
8. Mr. Naman Jain, learned counsel for the Non- Applicant/Petitioner, accepts notice.
9. Reply to the present Application, if any, be filed within a period of three (3) weeks from today.
10. Rejoinder thereto, if any, be filed within a period of one (1) week thereafter.
11. The parties are directed to file their respective Written Submissions, in compliance with the Practice Directions issued by this Court, to the petition under Section 34 of the Act, within a period of four (4) weeks from today.
12. List on 17.04.2026.
HARISH VAIDYANATHAN SHANKAR, J.
FEBRUARY 16, 2026/nd/her/sg 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 18/02/2026 at 20:35:59