Delhi High Court - Orders
Anil Syal vs Flywheel Logistics Solutions Pvt. Ltd on 26 September, 2025
Author: Sachin Datta
Bench: Sachin Datta
$~20
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 11374/2022, CM APPL. 33481/2022
ANIL SYAL .....Petitioner
Through: Ms. Prachi Johri and Mr. Girish
Kumar Fating, Advocates (through
VC).
versus
FLYWHEEL LOGISTICS SOLUTIONS PVT. LTD. .....Respondent
Through: Mr. Namit Suri, Advocate.
Mr. Sameer Rohatgi, Mr. Namit Suri
and Ms. Surabhi Sinha, Advocates.
CORAM:
HON'BLE MR. JUSTICE SACHIN DATTA
ORDER
% 26.09.2025
1. Respective counsel for the parties have been heard at some length.
2. During the course of hearing, attention has been drawn to the following portion of the resolution plan:
3. Learned counsel for the respondent no.1 submits that the entire dues of the financial creditors have been paid and there is no "balance unrecovered claim amount". In this regard, reliance is placed upon the letter of the Union Bank of India dated 06.03.2024, which reads as under:
"Ref: DEL:SAMB:OR: 3340 :2023-24 Date:06-03-2024 M/s Flywheel Logistics Solution Pvt Ltd (Account resolved under IBC) F-213 E-1 Old MB Road Lado Sarai 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 30/09/2025 at 00:11:35 New Delhi-110030 Sub: Updated account statement of M/s Flywheel Logistics Solutions Pvt Ltd (Resolved account under IBC) Dear Sir, Loan Account No. 4937064000006 of M/s Flywheel Logistics Solutions Pvt Ltd which is resolved under IBC. After appropriation of resolution amount, we have Written Off account in our Finacle system on 12.05.2022 as per details below:
1. Written off amount (Principle) as on 12.05.2022: Rs.3,36,15,685.10
2. Interest till 12-05-2022 as per system: Rs.1,24,59,618.54
3. Interest from 13-05-2022 to 12-02-2024: Rs.1,19,87,105.00
4. Legal/other expenses: Rs.3,74,800.00
5. Total Dues as on 12-02-2024: Rs.5,84,37,208.64 Further, we have recovered and adjusted Rs.5,84,37,208.64 for above loan account after sale of collateral property of account wherein we have received entire sale proceeds on 13-02-2024 from successful bidder.
Regards, Sd/-
Asst General Manager"
4. In the circumstances, the Union Bank of India, stated to be the only financial creditor, is impleaded as the respondent no.2 in the present petition.
5. Issue notice to the said newly impleaded respondent no.2/Union Bank of India, through all permissible modes, including electronically, for the next date of hearing.
6. Let for remaining arguments on 30.10.2025 at 12:00 PM.
SACHIN DATTA, J SEPTEMBER 26, 2025/r 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 30/09/2025 at 00:11:35