Delhi High Court - Orders
Simplot India Llc & Anr vs Himalaya Food International Limited on 11 May, 2023
Author: Prateek Jalan
Bench: Prateek Jalan
$~33 and 34
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(EFA)(COMM.) 1/2020 & EX.APPLs. (OS) 1211/2020,
1181/2021, 2820/2022, 3224/2022, 3589/2022, 3655/2022,
3704/2022
SIMPLOT INDIA LLC & ANR. ..... Decree Holders
Through: Mr. Krishnendu Datta, Senior
Advocate with Ms. Madhu Sweta,
Ms. Shivangi Khanna, Mr. Rajat
Sinha, Advocates (Mobile No.
8800285728).
versus
HIMALAYA FOOD
INTERNATIONAL LIMITED ..... Judgement Debtor
Through: Mr. Mohit Rohtagi, Mr. Rajendra
Dangwal, Ms. Samriddhi Shukla
and Ms. Nutan Keswani,
Advocates.
+ O.M.P.(EFA)(COMM.) 14/2021 & EX.APPLs. (OS) 137/2022,
3220/2022
HIMALAYA FOOD INTERNATIONAL LTD ..... Decree Holder
Through: Mr. Mohit Rohtagi, Mr. Rajendra
Dangwal, Ms. Samriddhi Shukla
and Ms. Nutan Keswani,
Advocates.
versus
SIMPLOT INDIA LLC & ANR. ..... Judgement Debtors
Through: Mr. Krishnendu Datta, Senior
Advocate with Ms. Madhu Sweta,
Ms. Shivangi Khanna, Mr. Rajat
Sinha, Advocates (Mobile No.
8800285728).
Mr. Rajeeve Mehra, Senior
Advocate with Mr. Amrendra
Signature Not Verified
Digitally Signed By:SHITU
NAGPAL
Signing Date:12.05.2023
12:37:48 O.M.P.(EFA)(COMM.) 1/2020 & O.M.P.(EFA)(COMM.) 14/2021 Page 1 of 3
Kumar Singh, Advocate for
Consortium of Banks.
CORAM:
HON'BLE MR. JUSTICE PRATEEK JALAN
ORDER
% 11.05.2023
1. Since the last substantive hearing on 16.03.2023, judgment debtor in O.M.P.(EFA)(COMM.) 1/2020 - Himalaya Food International Limited ["Himalaya"] has placed on record an affidavit dated 10.05.2023, which shows that it has deposited with the consortium of banks ["the Consortium"], a sum of ₹9.80 crores received in respect of its fire insurance claim. It has also entered into an agreement dated 01.05.2023 with the prospective purchaser of its land in village Keshwana Rajput, Tehsil Kotputli, Dist. Jaipur, Rajasthan ["the Keshwana property"] and given cheques of ₹2 crores to the Consortium. The agreement contains a detailed schedule by which a further sum of ₹15 crores is scheduled to be received from the prospective purchaser by 18.07.2023. Mr. Mohit Rohtagi, learned counsel for Himalaya, states that each instalment will be deposited with the Consortium as and when received. The schedule contemplates full payment of the consideration of ₹27.28 crores plus interest thereupon by 01.09.2023. Himalaya also expects further amount of approximately ₹20 crores to be released by the insurance company.
2. The Consortium has also filed an affidavit stating that it has received the aforesaid amount of ₹9.80 crores and is also holding two cheques from the prospective purchaser of the Keshwana property of ₹1 crore each. Mr. Rajeeve Mehra, learned Senior Counsel for the Consortium, states that the banks have placed Himalaya's request for extension of the One Time Settlement before their respective boards and Signature Not Verified Digitally Signed By:SHITU NAGPAL Signing Date:12.05.2023 12:37:48 O.M.P.(EFA)(COMM.) 1/2020 & O.M.P.(EFA)(COMM.) 14/2021 Page 2 of 3 expect a decision to be taken thereupon by 30.06.2023.
3. Having regard to the aforesaid aspects, learned counsel for the parties submit that the present proceedings may be taken up after 18.07.2023 to assess the progress made. Himalaya and State Bank of India are directed to file further affidavits by 21.07.2023 with regard to current status on both these aspects.
4. List on 01.08.2023.
5. As far as Paonta Sahib, District Sirmour, Himachal Pradesh property of the judgment debtor is concerned, the Court in the order dated 11.01.2023 had directed as follows:-
"2. At this stage, Mr. Mohit Rohatgi, learned counsel for the judgment debtor, submits that a buyer has been identified for the lease-hold property at Paonta Sahib, District Sirmour, Himachal Pradesh. The affidavit suggests that an agreement is likely to be entered into between the judgment debtor and the prospective purchaser on 22.01.2023. Mr. Rohatgi seeks permission to do so.
3. At this stage, there is no document which supports the judgment debtor's assertion regarding the price agreed between it and the prospective purchaser. There is also no averment with regard to the time schedule during which the sale proceeds are likely to be realised. It is, therefore, not possible to grant permission at this stage, except to the extent that the judgment debtor is permitted to enter into a concrete and detailed arrangement with the prospective purchaser, and place it before the Court, so that the Court may consider the question after hearing the decree holders and the consortium of banks ["the Consortium"]."
6. At Mr. Rohtagi's request, the aforesaid directions are reiterated.
PRATEEK JALAN, J MAY 11, 2023 'vp'/ Signature Not Verified Digitally Signed By:SHITU NAGPAL Signing Date:12.05.2023 12:37:48 O.M.P.(EFA)(COMM.) 1/2020 & O.M.P.(EFA)(COMM.) 14/2021 Page 3 of 3