Indian Kanoon - Search engine for Indian Law

Delhi High Court - Orders

Smt Benu Berry vs Jvg Finance Ltd on 9 March, 2022

Author: Vibhu Bakhru

Bench: Vibhu Bakhru

                          $~4 (Company)
                          *     IN THE HIGH COURT OF DELHI AT NEW DELHI

                          +     CO.A(SB) 37/2009


                                SMT BENU BERRY                            ..... Appellant
                                             Through Mr Vivek Kohli, Senior Advocate with
                                             Mr Sonam Sharma, Mr Anmol Singh Gill, Ms
                                             Diksha, Advocates.

                                                   versus

                                JVG FINANCE LTD                              ..... Respondent
                                              Through Mr Kunal Sharma, Advocate for Official
                                              Liquidator.
                                              Mr Dheeraj Gupta, Mr Kabir Hanpalani,
                                              Advocates for applicant in CA 697/2020.

                                CORAM:
                                HON'BLE MR. JUSTICE VIBHU BAKHRU
                                        ORDER

% 09.03.2022 OLR No. 2/2021

1. The Official Liquidator has filed the present report, inter alia, praying as under:-

"(i) The Status report of official liquidator may kindly be taken on record; and

(ii) Mrs Benu Beri may be directed to deposit balance amount (being a sum of Rs.1,70,41,500/-) of the reserve price of Rs.1,89,35,000/-, for the purchase of the Flat No. 202, IInd floor, Wing-B, Panchmukhi Co-operative Housing Signature Not Verified Digitally Signed By:Dushyant Rawal Signing Date:15.03.2022 Society, Off. Yari Road, Panch Marg, Varsova, Andheri (West), Mumbai, along with interest @ 12% p.a., payable since 21.11.2016; within two months beyond which official liquidator may be permitted to put on auction of the said flat."

2. After some arguments, Mr Sharma, learned counsel for the Official Liquidator seeks to withdraw the present report as it will not be apposite to seek confirmation of sale in favour of Ms Berry, who apart from paying 10% of the reserve price amount in the year 2014, has not paid any further sums to the Official Liquidator.

3. The said appellant is also not willing to pay interest on the said amount for this period.

4. OLR is dismissed as withdrawn in the light of the aforesaid submissions.

5. Although, this application is not listed today, Mr Kohli, learned senior counsel appearing for the applicant, states that the same be considered and the Official Liquidator may be directed to file a reply to the said application as recorded in the order dated 17.03.2016.

6. The appellant/applicant had filed the said application, inter alia, praying as under:-

"a. Allow the Applicant/nominees to deposit a sum of Rs.20,00,000.00 (Rupees Twenty Lacs Only) forthwith in this Hon'ble Court and grant a period of 90 days for the deposit of the balance sale price to Signature Not Verified Digitally Signed By:Dushyant Rawal Signing Date:15.03.2022 the Applicant or her nominee.

                                       b.      Direct the Official Liquidator to
                                               consider    the    bid     of    the

Appellant/Applicant and transfer flat bearing No. B-202, Panchmukhi Apartment, Off Yari Road, Versova, Mumbai - 400061."

7. By an order dated 21.11.2013, the appellant (Ms Berry) was directed to deposit the reserve price of ₹1,89,35,000/- as consideration for the property in question (Flat No. B-202, 2nd Floor, B-Wing, Panchmukhi CHS Ltd., Off. Yari Road, Panch Marg, Opposite Fisheries Institute, Andheri (West), Mumbai - 400061) within a period of 90 days from the date of the aforesaid order. However, she had failed to do so.

8. By an order dated 27.05.2014, this Court had once again directed that the property in question be put to auction. It was further directed that if no bids are received, Ms Berry's bid for the reserve price be accepted. The relevant extract of the said order is as under-

"Learned counsel for the Smt. Benu Berry submits that though she was not in a position to deposit the entire amount in terms of earlier orders, she has now found a buyer and is ready to deposit 10% of the reserve price of Rs.1,89,35,000/-.

In case, Smt. Benu Berry deposits the 10% of the said amount in favour of the Registrar General of this Court within one week from today, she would be permitted to match the highest bid that may be received for the property.

Smt. Benu Berry is permitted to get a buyer for financing the said offer and in case the bid of Smt. Benu Berry is accepted, the property may be Signature Not Verified Digitally Signed By:Dushyant Rawal Signing Date:15.03.2022 transferred by the Official Liquidator in favour of Smt. Benu Berry or her nominee.

It is directed that in case no bid is received then the bid of Smt. Benu Beri of Rs.1,89,35,000/- shall be considered as a bid.

Report is taken on record."

9. It is stated that although Ms Berry had deposited 10% of the amount, she had not paid any further amounts.

10. The present application was filed in the year 2016 and has remained pending since. Clearly, the relief sought by the appellant for further time to deposit the amount is no longer relevant as the further time, as sought, has also elapsed.

11. This application is no longer relevant and is, accordingly, disposed of.

12. List on 25.03.2022.

VIBHU BAKHRU, J MARCH 9, 2022 pkv Click here to check corrigendum, if any Signature Not Verified Digitally Signed By:Dushyant Rawal Signing Date:15.03.2022