Supreme Court - Daily Orders
Narendra Kumar Berlia vs Pesticides And Brewers Ltd. on 3 June, 2022
Bench: Ajay Rastogi, B.V. Nagarathna
1
ITEM NO.3 COURT NO.2 SECTION XVI
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s). 10126/2022
(Arising out of impugned final judgment and order dated 20-05-2022
in GA No. 1/2022 in APOT No.90/2022 passed by the High Court At
Calcutta)
NARENDRA KUMAR BERLIA & ANR. Petitioner(s)
VERSUS
PESTICIDES AND BREWERS LTD. & ORS. Respondent(s)
(FOR ADMISSION and I.R. and IA No.80732/2022-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT and IA No.80739/2022- INTERVENTION/IMPLEADMENT and IA No.80735/2022-DELETING THE NAME OF PETITIONER/RESPONDENT ) Date : 03-06-2022 This petition was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE AJAY RASTOGI HON'BLE MRS. JUSTICE B.V. NAGARATHNA (VACATION BENCH) For Petitioner(s) Mr. Kapil Sibal, Sr. Adv.
Mr. H.L. Tiku, Sr. Adv.
Mr. Yasmeet Kaur, Adv.
Mr. Vikas Kumar, Adv.
Mr. Mareesh Pravir Sahay, Adv. Ms. Aparajita Jamwal, Adv.
Mr. Abhik Chimnis, Adv.
Mr. Akshay Singh, Adv.
M/S Corporate Legal Partners, AOR For Respondent(s) Mr. Mukul Rohatgi, Sr. Adv.
Mr. Siddhartha Dave, Sr. Adv. Mr. K. Thakker, Adv.
Mr. Ankit Jain, Adv.
Mr. Rohan Talwar, Adv.
Mr. Mahesh Agarwal, Adv.
Mr. Krishnayan Sen, AOR Signature Not Verified UPON hearing the counsel the Court made the following Digitally signed by NEETU KHAJURIA Date: 2022.06.03 20:08:15 IST Reason: O R D E R Application for impleadment is allowed. 2 Application for deletion of the name of respondent is allowed at the risk of the petitioners.
During the course of arguments, the sale value of Rs.471 crores, in reference to the subject property has been finalized and part of the sale proceeds of the property has been received.
A chart, according to which payments have been received by the company, is placed before us for perusal and that indicates total value of the Thane Property is of Rs.471 crores.
Out of total sale value of Rs.471 crores, Rs.282 crores have been received and Rs.189 crores is deferred, which will be received during the period 2025-2027 and the corresponding payments have been made over against statutory dues of the various government authorities and operational creditors, etc. Mr. Kapil Sibal, learned senior counsel, has tried to persuade this Court that the mechanism which has been followed by the respondents in putting the subject property to sale is based on the valuer’s report which in itself is doubtful, to the contrary, the best course would have been to 3 put the property to public auction and that would have fetched the best price of the subject property.
We are not supposed to ponder over the rival submissions made at this stage for the reason that the High Court is seized of the matter which is coming up on 4th July, 2022.
We consider it appropriate that let the submissions, of which a reference has been made, the High Court may take a call in the pending proceedings.
With these observations, the present petition stands disposed of and we consider it appropriate to observe that let the High Court may decide the pending petition as expeditiously as possible.
Pending applications shall stand disposed of.
(NEETU KHAJURIA) (BEENA JOLLY) ASTT.REGISTRAR-CUM-PS COURT MASTER