Delhi High Court - Orders
Rishima Sa Investments Llc (Mauritius) vs Shristi Infrastructure Development ... on 21 December, 2022
Author: Prateek Jalan
Bench: Prateek Jalan
$~24 and 25
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(EFA)(COMM.) 5/2019 & EX.APPLs.(OS) 374/2019,
375/2019, 524/2019, 330/2021, 770/2021, 854/2021, 1077, 2021,
1258/2021, 1322/2021, 1374/2021, 1377/2021, 2756/2022
RISHIMA SA INVESTMENTS
LLC (MAURITIUS) ..... Decree Holder
Through: Mr. Rajshekhar Rao, Senior
Advocate with Mr. Varun
Agarwal, Advocate.
versus
SHRISTI INFRASTRUCTURE DEVELOPMENT
CORPORATION LIMITED & ANR. ..... Judgement Debtors
Through: Mr. Jayant K. Mehta, Senior
Advocate with Mr. Vijay Singh,
Mr. Ratik Sharma, Mr. Nishant
Goel, Ms. Shreya Pandey, Mr.
Raghav Bhatia, Advocates for R-1.
Ms. Mahima Singh and Ms. Shreya
Mahalwar, Advocate for R-2.
Ms. Madhvi Khanna, Mr. Raunak
Dhillon, Mr. Nihaad Dewan,
Advocates for Yes Bank.
25.
+ O.M.P.(EFA)(COMM.) 6/2021 & EX.APPLs.(OS) 651/2021,
769/2021, 775/2021, 1079/2021, 1372/2021, 1378/2021,
2755/2022
RISHIMA INVESTMENTS SA LLC ..... Decree Holder
Through: Mr. Anirudh Bakhru, Ms.
Vasundhra Bakhru, Ms. Tejaswini
Chander Chakhar, Mr. Varun
Signature Not Verified
Digitally Signed
By:SHITU NAGPAL O.M.P.(EFA)(COMM.) 5/2019 & O.M.P.(EFA)(COMM.) 6/2021 Page 1 of 3
Signing Date:23.12.2022
12:08:10
Agarwal, Advocates.
versus
SHRISTI INFRASTRUCTURE DEVELOPMENT
CORPORATION LIMITED ..... Judgement Debtor
Through: Mr. Jayant K. Mehta, Senior
Advocate with Mr. Vijay Singh,
Mr. Ratik Sharma, Mr. Nishant
Goel, Ms. Shreya Pandey, Mr.
Raghav Bhatia, Advocates for R-1.
Ms. Madhvi Khanna, Mr. Raunak
Dhillon, Mr. Nihaad Dewan,
Advocates for Yes Bank.
Ms. Mahima Singh and Ms. Shreya
Mahalwar, Advocates for
Resolution Professional.
CORAM:
HON'BLE MR. JUSTICE PRATEEK JALAN
ORDER
% 21.12.2022 EX.APPL.(OS) 3711/2022 in O.M.P.(EFA)(COMM.) 6/2021
1. The present application has been filed by the Resolution Professional ["RP"] of Sarga Hotel Private Limited ["SHPL'] for impleadment in the present proceedings. It is stated in the application that the RP has already been impleaded in O.M.P.(EFA)(COMM.) 5/2019, which arises out of the same arbitral proceedings.
2. Mr. Anirudh Bakhru, learned counsel for the decree holder submits that in view of the proceedings under the Insolvency and Bankruptcy Code, 2016 ["IBC"], against SHPL, the decree holder does not wish to enforce the award against SHPL in these enforcement proceedings, Signature Not Verified Digitally Signed By:SHITU NAGPAL O.M.P.(EFA)(COMM.) 5/2019 & O.M.P.(EFA)(COMM.) 6/2021 Page 2 of 3 Signing Date:23.12.2022 12:08:10 without prejudice to its right to enforce the award, depending on the conclusion of the IBC proceedings.
3. Learned counsel for the applicant however points out that in I.A. 1131/2022, filed by the decree holder herein before the National Company Law Tribunal, following averment has been made:-
"g) Pertinently, it is SIDCL which has filed the objections in the High Court of Delhi to the Final Award, and not the Corporate Debtor (which was embroiled in another CIRP until the same was set aside by the Learned NCLAT on 27.08.2021). Even after the previous CIRP was set aside, the Corporate Debtor has not challenged the Final Award."
4. It prima facie appears that stand being taken by the decree holder in this Court is inconsistent with the aforesaid assertions. Mr. Bakhru seeks time to file a reply.
5. Reply may be filed within two weeks from today clarifying the stand of the decree holder.
6. List on 31.01.2023.
O.M.P.(EFA)(COMM.) 5/2019 & O.M.P.(EFA)(COMM.) 6/2021
1. Mr. Jayant K. Mehta, learned Senior Counsel for Shrishti Infrastructure Development Corporation Limited, continued his submissions, which remain inconclusive.
2. List alongwith all pending applications on 31.01.2023.
PRATEEK JALAN, J DECEMBER 21, 2022 'vp'/ Signature Not Verified Digitally Signed By:SHITU NAGPAL O.M.P.(EFA)(COMM.) 5/2019 & O.M.P.(EFA)(COMM.) 6/2021 Page 3 of 3 Signing Date:23.12.2022 12:08:10