Delhi High Court - Orders
Ag Melco Elevator Co. Llc vs Unitech Limited And Another on 3 March, 2020
Author: Prateek Jalan
Bench: Prateek Jalan
$~6
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CS(COMM) 790/2018
AG MELCO ELEVATOR CO. LLC ..... Plaintiff
Through: Ms. Ramni Taneja, Advocate
versus
UNITECH LIMITED AND ANOTHER ..... Defendant
Through: Ms. Anubha Agarwal, Advocate
CORAM:
HON'BLE MR. JUSTICE PRATEEK JALAN
ORDER
% 03.03.2020
1. It is submitted out by learned counsel for the parties that the Supreme Court has superseded the Board of Directors of Unitech Limited (defendant No.1 in this suit), and directed preparation of a resolution framework. The Supreme Court has also ordered a moratorium against institution of proceedings against Unitech Limited and its subsidiaries, which extends to existing proceedings and enforcement of orders as well.
2. The relevant extracts of the order dated 20.01.2020, passed by the Supreme Court in Civil Appeal No.10856/2016 (Bhupinder Singh vs. Unitech Ltd.) are as follows:-
"xxxx xxxx xxxx
We issue the following directions:
(i) The existing Board of Directors of Unitech Limited is
superseded with immediate effect in order to facilitated the taking over of management by the new Board of Directors constituted in terms of the proposal submitted by the Union government;
xxxx xxxx xxxx CS(COMM) 790/2018 page 1 of 2
(v) We request the newly constituted Board of Directors to prepare a resolution framework within a period of two months from today and to submit it to this Court;
xxxx xxxx xxxx
(vii) Pending further orders of this Court, there shall be a moratorium against the institution of proceedings against Unitech Limited and its subsidiaries. The moratorium shall also extend to existing proceedings against the company as well as the enforcement of orders that may have been passed against the company;"
3. In view of the above order of the Supreme Court, the present suit, in which defendant No.1 is Unitech Limited and defendant No.2 is one of its subsidiaries, cannot proceed at this stage.
4. List on 08.09.2020.
PRATEEK JALAN, J
MARCH 03, 2020/„j‟/s
CS(COMM) 790/2018 page 2 of 2