Supreme Court - Daily Orders
Pushpanjali Tie Up Pvt. Ltd vs Renudevi Choudhary & Others on 5 September, 2014
Bench: Jagdish Singh Khehar, Arun Mishra
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IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL No.8539 OF 2014
(Arising out of SLP(C)No.20596 of 2014)
PUSHPANJALI TIE UP PVT. LTD .......APPELLANT
VERSUS
RENUDEVI CHOUDHARY & OTHERS ......RESPONDENTS
O R D E R
Leave granted.
Learned senior counsel for the parties are agreed that
2,59,528 shares of Flexituff International Ltd. (presently with
respondent No.3) shall be sold by them through a staggered sales
over a period of 10 working days (commencing from 08.09.2014). The
details of such sales shall be made available to the appellant by
respondent No.3 on a daily basis. Respondent No.3 will only be
entitled to sell shares, which would account for the payment due to
respondent No.3 from respondent Nos.1 and 2. We are informed by
respondent No.3 that as on 05.09.2014, a sum of Rs.4,19,83,963.35
is due to it from respondent Nos.1 and 2, and that interest theron
shall continue to run till the receipt of full payment. This
position is accepted by the appellant, with the rider, that in
Signature Not Verified
Digitally signed by
Satish Kumar Yadav
Date: 2014.09.08
case the claim of the amount reflected hereinabove, is altered on
14:47:59 IST
Reason:
account of the challenge raised thereagainst, respondent No.3 shall
intimate the details thereof to the appellant. It is also agreed
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by the appellant, that in case the sale proceeds from 2,59,528
shares of Flexituff International Ltd. with respondent No.3 fall
short of the above amount, the same shall be made good by the
appellant within three weeks (from the expiry of a period of 10
working days referred to above) by making the balance payment to
respondent No.3. It is also agreed by the appellant, that the
escrow amount due to respondent No.3 i.e. Rs.1,57,01,561.34 shall
be released to respondent No.3 (along with accrued interest
thereon, if any).
If after making good the above amount, respondent No.3 is
still in possession of shares of Flexituff International Ltd., the
same shall be transferred to the Demat Account of the Court
Receiver.
To the above extent, the impugned order dated 12.06.2014
passed by the High Court of Bombay in Appeal (LODG) No.92 of 2014,
shall be deemed to stand modified.
The appeal is disposed of in the above terms.
...........................J.
(JAGDISH SINGH KHEHAR)
...........................J.
(ARUN MISHRA)
NEW DELHI;
SEPTEMBER 5, 2014.
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ITEM NO.29 COURT NO.7 SECTION IX
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s). 20596/2014
(Arising out of impugned final judgment and order dated 12/06/2014
in SN No. 131/2014, NM No. 2150/2013, AN No.(LODG) 92/2014 passed
by the High Court Of Bombay)
PUSHPANJALI TIE UP PVT. LTD Petitioner(s)
VERSUS
RENUDEVI CHOUDHARY & OTHERS Respondent(s)
Date : 05/09/2014 This petition was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE JAGDISH SINGH KHEHAR
HON'BLE MR. JUSTICE ARUN MISHRA
For Petitioner(s) Mr.Shyam Divan, Sr.Adv.
Mr.Abhinav Malhotra, Adv.
Ms.Pratiksha Sharma, Adv.
Mr. Mukul Kumar, Adv.
For Respondent(s) Mr.C.A.Sundaram, Sr.Adv.
Ms.Rohini Musa, Adv.
Mr. Jay Savla, Adv.
Upon hearing the counsel the Court made the following
O R D E R
Leave granted.
The appeal is disposed of in terms of the signed order.
(SATISH KUMAR YADAV) (PHOOLAN WATI ARORA) COURT MASTER ASSISTANT REGISTRAR (Signed order is placed on the file)