Delhi High Court - Orders
Power Mech Projects Ltd vs Sepco Electric Power Construction ... on 12 February, 2019
Author: Rajiv Shakdher
Bench: Rajiv Shakdher
$~8
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(I) (COMM.) 523/2017 & I.A. 11128/2018
POWER MECH PROJECTS LTD. ..... Petitioner
Through Mr. Dharmesh Misra and Mr. Ankit
Kakkar, Advs.
versus
SEPCO ELECTRIC POWER CONSTRUCTION CORPORATION
..... Respondent
Through Mr. Sandeep Sethi, Sr. Adv. with Mr.
Ranjit Prakash, Mr. Kamal Nijhawan,
Ms. Mahima Sareen and Mr. Sumit
Gaur, Advs.
CORAM:
HON'BLE MR. JUSTICE RAJIV SHAKDHER
ORDER
% 12.02.2019
1. Mr. Sethi, learned senior counsel for the respondent, says that he will file an affidavit stating therein the following:
(i) The list of assets which find mention in the valuers' report alongwith their location and valuation given by the valuer.
(ii) The list of assets which, according to him, the valuer has not valued. In respect of these assets their location and approximate valuation will also be given.
(iii) Furnish a bank guarantee in the sum of Rs.30 crores of a scheduled Indian bank.
2. Learned senior counsel says that on account of the spring festival in China, it could take at least six (6) weeks to furnish the bank guarantee.
O.M.P.(I) (COMM.) 523/2017 Page 1 of 23. Mr. Sethi says, however, the affidavit can be furnished within the next two (2) weeks. It is ordered accordingly.
4. The Judgment Debtor will file the affidavit within two (2) weeks; with a copy being furnished to the counsel for the Decree Holder.
5. Insofar as the bank guarantee is concerned, it will be furnished within 6 weeks as indicated by the counsel.
6. Further, the bank guarantee in the sum of Rs.30 crores will be that of a scheduled bank located in India.
7. Renotify the matter on 31.7.2019.
8. In the meanwhile, the Judgment Debtor will continue to make deposit with the Registry of this Court in terms of the order dated 24.7.2018.
RAJIV SHAKDHER, J FEBRUARY 12, 2019 rb O.M.P.(I) (COMM.) 523/2017 Page 2 of 2