Delhi High Court - Orders
Ernst And Young Llp vs Medeor Hospitals Ltd on 12 September, 2023
Author: Yogesh Khanna
Bench: Yogesh Khanna
$~18
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ OMP (ENF.) (COMM.) 81/2022, CCP(O)40/2022
ERNST AND YOUNG LLP
..... Decree Holder
Through: Mr.Jayanat K.Mehta, Senior
Advocate with Mr.Koshy John,
Mr.Prateek Khanna, Ms.Ravneet
Kaur Malik, Ms.Rumella Jain,
Advocates.
versus
MEDEOR HOSPITALS LTD
..... Judgement Debtor
Through: Mr.Sandeep Sethi, Senior Advocate
with Ms.Shreya Sethi, Mr.Prateek
Choudhary, Advocates.
CORAM:
HON'BLE MR. JUSTICE YOGESH KHANNA
ORDER
% 12.09.2023
EX.APPL.(OS)684/2023
1. This application is filed by the applicant/decree holder for release of an award amount of Rs.15,86,17,808/-. Admittedly, the petition under Section 34 of Arbitration and Conciliation Act, filed by the judgment debtor has since been dismissed. It is alleged by Shri Sandeep Sethi, learned Senior Advocate the new management has taken over the judgment debtor company but there exist an inter-se dispute between the erstwhile and new management and as per consent award dated 01.03.2019 between erstwhile and new management, the present liability is to be met with by the erstwhile management but since they are not pursuing the challenge to award, hence the new management has deposited the award amount before this Court without prejudice its rights to recover from erstwhile management.
This is a digitally signed order.
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2. It is submitted the erstwhile management is even not pursuing the appeal under Section 37 of the Arbitration and Conciliation Act filed vide diary no.1099418/2023 against the dismissal of its petition under Section 34 of Arbitration and Conciliation Act, hence the amount so deposited by the new management be not released to the decree holder.
3. The inter-se disputes between the erstwhile and new management would not bind this court in releasing the amount in favour of decree holder and as such the amount so deposited on behalf of the judgment debtor, be released in favour of decree holder on its executing a bank guarantee to the satisfaction of the learned Registrar General of this Court for a period of four weeks; within which the new management is at liberty to pursue its appeal under Section 37 of Arbitration and Conciliation Act. Let the decree holder appear before the learned Registrar General on 15.09.2023 for furnishing bank guarantee and for other formalities.
4. The application stands disposed of.
OMP (ENF.) (COMM.) 81/2022 & CCP(O)40/2022
5. List on 22.11.2023 before this Court.
YOGESH KHANNA, J.
SEPTEMBER 12, 2023 DU 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 16/09/2023 at 18:30:45