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Delhi High Court - Orders

Tommorrowland Limited vs Hdfc Bank Ltd on 19 September, 2025

                  $~26 to 53
                  *     IN THE HIGH COURT OF DELHI AT NEW DELHI
                  +         FAO(OS) 38/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            HDFC BANK LTD.                                                       .....Respondent
                                                                    Through:            Mr.    Raman      Kapur,
                                                                                        Senior Advocate with
                                                                                        Mr. Rishab Raj Jain &
                                                                                        Mr. Sharique Hussain,
                                                                                        Advocates.
                  27
                  +         FAO(OS) 45/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            SHARMA AND CO. AND OTHERS         .....Respondents
                                             Through: Appearance not given.

                  28
                  +         FAO(OS) 46/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            V. JETHALAL RAMJI SHARE BROKERS PVT LTD & ORS.
                                                                .....Respondents
                                               Through: Mr. Vikram Pradeep &

                  FAO(OS) 38/2022 & connected matters                                                         Page 1 of 11
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 22/09/2025 at 23:51:51
                                                                                         Mr. Anay Khandelwal,
                                                                                        Advocates.
                  29
                  +         FAO(OS) 47/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                            Through:                                    Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            HARYANA STATE INDUSTRIAL AND
                            INFRASTRUCTURE DEVELOPMENT CORPORATION
                            LTD.                                .....Respondent
                                             Through: Mrs. Noopur Singhal,
                                                      Advocate.

                  30
                  +         FAO(OS) 85/2022, CM APPL. 31837/2022 (Stay) & CM
                            APPL. 35794/2025 (for release of bank guarantee no.
                            6294NDDG00011024 dated 6.6.2023)
                            HDFC BANK LIMITED                                                      .....Appellant
                                                                    Through:            Mr.    Raman      Kapur,
                                                                                        Senior Advocate with
                                                                                        Mr. Rishab Raj Jain, Mr.
                                                                                        Sharique Hussain & Mr.
                                                                                        Ashwani           Kumar
                                                                                        Advocates.
                                                                     versus
                            TOMORROWLAND LIMITED                                                 .....Respondent
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                  31
                  +          FAO(OS) 48/2022
                            TOMMORROWLAND LIMITED                                                       .....Appellant
                                           Through:                                     Mr.        Pavan Sachdeva,


                  FAO(OS) 38/2022 & connected matters                                                         Page 2 of 11
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 22/09/2025 at 23:51:51
                                                                                         Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR      Dass,
                                                                                        Advocates.
                                                                     versus

                            ESSAR CAPITAL LTD. NOW KNOWN AS VAJRESH
                            CONSULTANT LIMITED                   .....Respondent
                                               Through: Appearance not given.

                  32
                  +         FAO(OS) 49/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            JALAN AND CO.                                                        .....Respondent
                                                                    Through:            Appearance not given.

                  33
                  +         FAO(OS) 50/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            STERLING HOLIDAY FINANCIAL SERVICES LTD
                                                                 .....Respondent
                                              Through: Mr. Sameer Nandwani,
                                                       Advocate.

                  34
                  +         FAO(OS) 51/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                            Through:                                    Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and


                  FAO(OS) 38/2022 & connected matters                                                         Page 3 of 11
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 22/09/2025 at 23:51:51
                                                                                         Mr.     KKR                        Dass,
                                                                                        Advocates.
                                                                     versus
                            VEERHEALTH CARE LTD                                                   .....Respondent
                                             Through:                                   Ms.    Sonal        Sinha,
                                                                                        Advocate.
                  35
                  +          FAO(OS) 52/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus

                            NICCO UCO ALLIANCE CREDIT LTD       .....Respondent
                                             Through: Mr. Arav Kapoor and
                                                       Ms. Mansha Gupta,
                                                       Advocates.
                  36
                  +         FAO(OS) 53/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus

                            ANALYSIS TRADE CONSULTANCY LLP .....Respondent
                                             Through: Mr.   Rajesh  Banati,
                                                      Mr.   Aditya  Mishra,
                                                      Mr. Ashish Sareen &
                                                      Mr.    Adil   Asghar,
                                                      Advocates.
                  37
                  +         FAO(OS) 54/2022


                  FAO(OS) 38/2022 & connected matters                                                         Page 4 of 11
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 22/09/2025 at 23:51:51
                             TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus

                            NAVODAY MANAGEMENT SERVICES LIMITED
                                                             .....Respondent
                                           Through: Appearance not given.


                  38
                  +         FAO(OS) 55/2022 & CM APPL. 24638/2025 (Seeking
                            substitution of the Respondent)

                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            PRESSMAN ADVERTISING LIMITED       .....Respondent
                                             Through: Mr. Indranil Ghosh and
                                                      Ms. Mrinal Chaudhry,
                                                      Advocates.
                  39
                  +         FAO(OS) 57/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            REAL GROWTH FINANCIAL SERVICES LTD NOW RGF
                            CAPITAL MARKETS LTD                .....Respondent
                                             Through: Appearance not given

                  40


                  FAO(OS) 38/2022 & connected matters                                                         Page 5 of 11
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 22/09/2025 at 23:51:51
                   +          FAO(OS) 58/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus

                            SANCHAY FINVEST LIMITED                                              .....Respondent
                                              Through:                                  Mr. Sudhansu Palo,
                                                                                        Mr.    Rajesh      Palo,
                                                                                        Mr. Rakesh Palo &
                                                                                        Mr. Budhadev Palo,
                                                                                        Advocates.
                  41
                  +          FAO(OS) 59/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            R. N. AHUJA AND CO.                                                  .....Respondent
                                                                    Through:            Appearance not given.
                  42
                  +         FAO(OS) 60/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                              HEMDEV SECURITIES INDIA PVT. LTD. .....Respondent
                                              Through: Mr.     Anurag     Pratap,
                                                        Advocate, Mr. Prashant
                                                        Katara and Mr. Shivam


                  FAO(OS) 38/2022 & connected matters                                                         Page 6 of 11
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 22/09/2025 at 23:51:51
                                                                                         Gupta, Advocates
                  43
                  +         FAO(OS) 61/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            PRASAD AND CO. AND OTHERS         .....Respondents
                                             Through: Mr.     L.K.      Singh,
                                                      Advocate.
                  44
                  +          FAO(OS) 62/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                               versus
                            S. K. NAHATA AND CO. & ORS.                                         .....Respondents
                                               Through:                                 Appearance not given.

                  45
                  +         FAO(OS) 63/2022
                            TOMMORROWLAND LIMITED                                                           .....Appellant
                                                                    Through:            Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR      Dass,
                                                                                        Advocates.
                                                                     versus

                            DCM FINANCIAL SERVICES LTD                                                   .....Respondent
                                                                    Through:            Mr.        Sachin Chopra,
                                                                                        Ms.        Astha Gupta &


                  FAO(OS) 38/2022 & connected matters                                                         Page 7 of 11
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 22/09/2025 at 23:51:51
                                                                                         Ms.    Aakriti                     Jain,
                                                                                        Advocates.
                  46
                  +         FAO(OS) 64/2022
                            TOMMORROW LAND LIMITED                                                          .....Appellant
                                                                    Through:            Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR      Dass,
                                                                                        Advocates.
                                                                     versus

                            CLARITY FINANCIAL SERVICES LTD.     .....Respondent
                                              Through: Appearance not given.
                  47
                  +          FAO(OS) 65/2022
                            TOMMORROW LAND LIMITED                                                          .....Appellant
                                                                    Through:            Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR      Dass,
                                                                                        Advocates.
                                                                     versus
                            MANOJ BHARGAVA AND CO.                                                       .....Respondent
                                                                    Through:            Appearance not given.

                  48
                  +         FAO(OS) 66/2022
                            TOMMORROW LAND LIMITED                                                 .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            DWARKADAS HARINARAYAN MAHESHWARI & ORS.
                                                          .....Respondents
                                            Through: Mr. Aaditya     Vijay

                  FAO(OS) 38/2022 & connected matters                                                         Page 8 of 11
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 22/09/2025 at 23:51:51
                                                                                         Kumar & Ms. Akshita
                                                                                        Katoch, Advocates.
                  49
                  +         FAO(OS) 69/2022
                            TOMMORROW LAND LIMITED                                                 .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            DOLF LEASING LIMITED                                                 .....Respondent
                                              Through:                                  Mr. Kunal Manav &
                                                                                        Mr. Sandeep Sehrawat,
                                                                                        Advocates.
                  50
                  +          FAO(OS) 70/2022
                            TOMMORROWLAND LIMITED                                                  .....Appellant
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                                                                     versus
                            SHAKTI AND CO. & ORS.                                               .....Respondents
                                              Through:                                  Mr.   Vijay      Kasana,
                                                                                        Mr.   Chirag      Verma,
                                                                                        Mr. Mayank Goswami,
                                                                                        Mr. Vaibhav Sharma,
                                                                                        Advocates.

                  51
                  +         FAO(OS) 116/2022 & CM APPL. 44208/2022 (for condonation
                            of delay of 38 days in filing the appeal)

                            HARYANA STATE INDUSTRIAL AND
                            INFRASTRUCTURE DEVELOPMENT CORPORATION
                            LTD                                 .....Appellant
                                             Through: Mrs. Noopur Singhal,
                                                      Advocate.


                  FAO(OS) 38/2022 & connected matters                                                         Page 9 of 11
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 22/09/2025 at 23:51:51
                                                                      versus
                            TOMMORROWLAND LIMITED                                               .....Respondents
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.
                  52
                  +         FAO(OS) 125/2022, CM APPL. 47561/2022 (for condonation
                            of delay of 88 days in filing), CM APPL. 47562/2022 (stay) &
                            CM APPL. 47564/2022 (for condonation of delay of 26 days in
                            re-filing)
                            DOLF LEASING LTD.                                                      .....Appellant
                                                                    Through:            Mr. Kunal Manav &
                                                                                        Mr. Sandeep Sehrawat,
                                                                                        Advocates.
                                                                     versus

                            TOMMORROWLAND LIMITED                                                .....Respondent
                                           Through:                                     Mr. Pavan Sachdeva,
                                                                                        Mr. Ishan Sachdeva and
                                                                                        Mr.     KKR        Dass,
                                                                                        Advocates.

                  53
                  +         FAO(OS) 140/2022, CM APPL. 52288/2022 (Stay), CM APPL.
                            52290/2022 (for condonation of delay of 10 days in filing) &
                            CM APPL. 52291/2022 (for condonation of delay of 82 days in
                            re-filing)
                            DCM FINANCIAL SERVICES LTD.                     .....Appellant
                                                   Through: Mr. Sachin Chopra,
                                                               Ms. Astha Gupta &
                                                               Ms.      Aakriti      Jain,
                                                               Advocates.
                                                   versus
                            TOMMORROWLAND LIMITED                        .....Respondent
                                                   Through: Mr. Pavan Sachdeva,
                                                               Mr. Ishan Sachdeva and
                                                               Mr.      KKR         Dass,
                                                               Advocates.

                  FAO(OS) 38/2022 & connected matters                                                         Page 10 of 11
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 22/09/2025 at 23:51:51
                             CORAM:
                            HON'BLE MR. JUSTICE ANIL KSHETARPAL
                            HON'BLE MR. JUSTICE HARISH VAIDYANATHAN
                            SHANKAR
                                         ORDER

% 19.09.2025

1. Arguments of Mr. Raman Kapur, learned Senior Advocate remain inconclusive. Arguments on behalf of other Respondents in all matters except FAO(OS) 38/2022, FAO(OS) 47/2022, FAO(OS) 63/2022 & FAO(OS) 69/2022 & FAO(OS) 52/2022, heard.

2. List on 31.10.2025 for further arguments.

3. A photocopy of the Order passed today be kept in the connected matters.

ANIL KSHETARPAL, J HARISH VAIDYANATHAN SHANKAR, J SEPTEMBER 19, 2025/rk FAO(OS) 38/2022 & connected matters Page 11 of 11 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 22/09/2025 at 23:51:51