Delhi High Court
M/S Autocomps India Ltd. vs Appellate Authority For Industrial & ... on 22 September, 2017
Author: Hima Kohli
Bench: Hima Kohli, Deepa Sharma
$~11
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 9722/2015
M/S AUTOCOMPS INDIA LTD. ..... Petitioner
Through: Mr. Ashsish Dasgupta, Managing
Director of petitioner.
versus
APPELLATE AUTHORITY FOR INDUSTRIAL & FINANCIAL
RECONSTRUCTION, NEW DELHI & ORS ..... Respondent
Through: Mr. Ajay K. Jain, Advocate along
with Mr. Yash Karan Jain, Advocate
for respondent No. 1/Canara Bank.
CORAM:
HON'BLE MS. JUSTICE HIMA KOHLI
HON'BLE MS. JUSTICE DEEPA SHARMA
ORDER
% 22.09.2017
1. Mr. Ashish Das Gupta, Managing Director of the petitioner/Company is present. He states that pursuant to the order dated 21.09.2017, he has interacted with his strategic investors and is confident that the petitioners shall be able to deposit a sum of Rs. 75 lakhs with the respondent/Bank i.e. the OTS offer, if given a period of 60 days, reckoned from 31.10.2017.
2. He further states that to show its bona fides, the petitioner/Company had deposited a sum of Rs. 6 lakhs with the respondent No. 3/Bank, which fact is confirmed by the other side.
3. It is stated that 50% of the OTS amount, less the amount already deposited with the respondent No. 3/Bank shall be tendered by the petitioner W.P.(C) 9722/2015 Page 1 of 2 to the Bank on or before 31.10.2017 and the remaining 50%, on or before 31.11.2017.
4. Immediately, on receipt of the OTS amount of Rs. 75 lakhs, the respondent No. 3/Bank shall release all the securities and guarantees etc deposited by the petitioner and issue a No Dues Certificate.
5. The petition is disposed of.
HIMA KOHLI, J DEEPA SHARMA, J SEPTEMBER 22, 2017 ss W.P.(C) 9722/2015 Page 2 of 2