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Mr Rajive Dhingra vs Mr Harish Dhingra & Ors on 10 July, 2024

Author: Manmeet Pritam Singh Arora

Bench: Manmeet Pritam Singh Arora

                                    $~31
                                    *           IN THE HIGH COURT OF DELHI AT NEW DELHI
                                    +           EX.P. 49/2024, EX.APPL.(OS) 1035/2024 & EX.APPL.(OS)
                                                1036/2024

                                                MR RAJIVE DHINGRA                                                          .....Decree Holder
                                                                                      Through:                 Mr. Ashish Mohan, Ms. Sagrika
                                                                                                               Tanwar and Mr. Digvijay Singh,
                                                                                                               Advocates
                                                                                      versus

                                        MR HARISH DHINGRA & ORS.      .....Judgement Debtor
                                                      Through: None
                                    CORAM:
                                    HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA
                                                         ORDER

% 10.07.2024 EX.APPL.(OS) 1035/2024 (for exemption)

1. The Decree Holder shall file legible and clearer copies of exempted documents, compliant with practice rules, before the next date of hearing

2. The application for exemption is allowed, subject to the Decree Holder granting inspection of the documents filed, as and when required to do so, or filing the original documents as per the directions of the Court.

3. The application stands disposed of.

4. Learned counsel for the Decree Holder states that in the present execution petition the reliefs are sought against Respondent Nos. 4 to 8.

5. Upon filing of process fee, issue notice to Respondent Nos. 4 to 8 through all permissible modes, in addition, through the nominated counsel for Respondent Nos. 4 to 6. Let the notice state that the Respondents shall EX.P. 49/2024 Page 1 of 3 This is a digitally signed order.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 12/07/2024 at 01:50:41 file their reply within two weeks from the date of receipt of notice. Rejoinder, if any, be filed within one week thereafter.

6. List on 25.10.2024.

EX.APPL.(OS) 1036/2024

7. Learned counsel for the Decree Holder states that there is an apprehension that Respondent No. 7 shall transfer the shares of late Sh. Tulsi Dass Dhingra to Investor Education and Protection Fund ('IEPF') on or before 15.07.2024. In this regard, he has drawn this Court's attention to the letter dated 29.04.2024 addressed by Respondent No. 7 to late Sh. Tulsidas Dhingra.

8. He states that the Decree Holder has vide legal notice dated 18.05.2024 responded to the said letter dated 29.04.2024 and duly informed both the Depository i.e., Respondent No. 8, M/s KFIN Technologies Ltd. as well as Respondent No. 7 with respect to the settlement agreement dated 31.01.2020 and passing of the judgment and decree dated 26.02.2020 whereby the Decree Holder has become entitled to receive the 2/3rd share of movable assets of Respondent No. 7 held by late Sh. Tulsidas Dhingra.

9. He states however, despite receipt of legal notice dated 18.05.2024 as well as the decree of this Court, Respondent No. 7 has merely responded to the legal notice through an automated reply, which does not acknowledge any action by the Respondent Nos. 7 and 8. He states since 15.07.2024 is imminent the Decree Holder has made regular follow-ups with Respondent Nos. 4 to 8 for transferring the shares of late Sh. Tulsidas Dhingra in favour of the Decree Holder as per the settlement agreement and order of the Court. He states that if the shares are transferred by Respondent Nos. 7 and 8 to IEPF, it will cause irreparable loss to the Decree Holder.

This is a digitally signed order.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 12/07/2024 at 01:50:41

10. He accordingly, seeks a stay on transfer of shares lying in the Demat account of late Tulsidas Dhingra as held by Respondent Nos. 6 and 8. He states that there are similar apprehensions with respect to accounts of late Sh. Tulsidas Dhingra with Respondent Nos. 4 and 5 as well.

11. In view of the settlement agreement dated 31.01.2020 executed between the parties, judgment and decree dated 26.02.2020 and the final settlement order dated 28.07.2022 passed by this Court, the Decree Holder is prima facie entitled to the transfer of 2/3rd share of the movable assets in the shape of portfolio of shares, bonds, fixed deposits and other deposits of late Sh. Tulsidas Dhingra held under fiduciary capacity by Respondent Nos. 4, 5, 6 and 8. The apprehension of the Decree Holder in view of the letter dated 29.04.2024 is real and reasonable. Accordingly, until the next date of hearing, Respondent Nos. 4 to 8 are restrained from transferring to IEPF or in any manner dealing with the movable assets of late Sh. Tulsidas Dhingra. Respondent Nos. 4 to 8 are directed to maintain status quo with respect to the movable assets standing in the name of late Tulsidas Dhingra.

12. The Decree Holder is directed to comply with the provisions of Order XXXIX Rule 3 CPC within five days. Affidavit of service be filed within one week.

13. List on 25.10.2024.

MANMEET PRITAM SINGH ARORA, J JULY 10, 2024/msh/AKT EX.P. 49/2024 Page 3 of 3 This is a digitally signed order.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 12/07/2024 at 01:50:41