Delhi High Court - Orders
Deutsche Trustee Company Ltd vs Tulip Telecom & Anr on 4 April, 2022
Author: Vibhu Bakhru
Bench: Vibhu Bakhru
$~68(Company)
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CCP(CO.) 9/2019
DEUTSCHE TRUSTEE COMPANY LTD. ..... Petitioner
Through: Mr Vikas Aggarwal, Mr Anshu
Mahajan, Mr Karan Arora, Advocates.
versus
TULIP TELECOM & ANR. ..... Respondents
Through: Mr Kunal Sharma, Advocate for the
Official Liquidator.
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
ORDER
% 04.04.2022 CA 1345/2019
1. Allowed, subject to all just exceptions. CCP(CO.) 9/2019
2. The petitioner has filed the present petition praying that appropriate proceedings of contempt be issued against the respondent.
3. The petitioner is the owner of the property referred to as Shanti Kunj, Arya Nagar, Ghasi Ram, Petrol Pump opposite Om Plaza, Palwal, Haryana ad-measuring 229 sq. yards.
4. The Company in Liquidation (Tulip Telecom Ltd.) had placed a tower on the premises owned by the petitioner. The petitioner had moved an application in the Company Petition seeking permission to dismantle the Tower. The same was disposed of by an order dated 26.02.2019, and the Official Liquidator was directed to sell the said Tower by circulation of Signature Not Verified Digitally Signed By:Dushyant Rawal Signing Date:08.04.2022 handbills.
5. Respondent no.2 had submitted a bid of ₹60,000/- for the same, which was accepted. He had deposited an amount of ₹16,000/- as earnest money and was required to pay the balance amount of ₹44,000/-, which he has failed to do. He has since resiled from fulfilling his obligations and has not come forward to dismantle the Tower and remove the same.
6. The learned counsel appearing for the petitioner states that the value of the said Tower is not more than ₹20,000/- and therefore, it was obvious that respondent no.2 would not have fulfilled its commitment.
7. This Court is of the view that it would not be expedient to initiate contempt proceedings, either against the Official Liquidator or against the respondent. The amount deposited by respondent no.2 is directed to be forfeited.
8. The Official Liquidator shall take steps to attempt to sell the Tower in question by circulation of handbills and place the same notice on its website. The sale will be conducted with a reserve price of ₹20,000/- as this Court is informed that the Tower is practically scrap.
9. Let the same be done within a period of four weeks from today.
10. The petition is disposed of.
VIBHU BAKHRU, J APRIL 4, 2022 pkv Click here to check corrigendum, if any Signature Not Verified Digitally Signed By:Dushyant Rawal Signing Date:08.04.2022