Delhi High Court - Orders
Transasia Private Capital Limited vs Gaurav Dhawan on 27 September, 2024
Author: Jasmeet Singh
Bench: Jasmeet Singh
$~58
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ EX.P. 37/2021
TRANSASIA PRIVATE CAPITAL LIMITED .....Decree Holder
Through: Mr. Rajdeep Panda, Mr. Munwwar
Naseem, Mr. Jaskaran Bhatia and Mr.
Akshit Upadhyay, Advs.
versus
GAURAV DHAWAN .....Judgement Debtor
Through: Mr. D.P. Singh, Senior Adv. with Mr.
Manu Mishra and Mr. Imaan Khera,
Advs.
Ms. Prema Priyadarshini (ASC of
Official Liquidator) and Mr. Priyansh
Kanwar for Applicant in
EX.APP.(OS)1566/2024
CORAM:
HON'BLE MR. JUSTICE JASMEET SINGH
ORDER
% 27.09.2024
EX.APPL.(OS) 1566/2024
1. This is an application by the official liquidator seeking expenses to be paid to the Valuer, namely ITCOT Consultancy and Services, 508, Ambadeep Building, 14 K.G. Marg, New Delhi-110011.
2. The ITCOT Consultancy had been engaged by the Official Liquidator and submitted a report with regard to the valuation of the shares to be sold.
3. The valuation was undertaken for benefit of two decree-holders namely TransAsia Private Capital Ltd in EX. P. 37/2021 (represented by Dua Associates) and AREO II SARL in O.M.P. (EFA) (COMM.) 12/2021 (represented by Khaitan & Co. LLP). The cost of the valuation is about Rs. 4,42,000/-.
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4. In my view, the payment should be made on the basis of the Award/Decree. Since at the time of passing of the award/decree, the awarded amount in favour of the AREO II SARL is about Rs. 800 crores and the decretal amount in favour of TransAsia Private Capital Ltd is about Rs. 400 crores, it is directed that the expenses of the Valuer shall be paid 67% by AREO II SARL and 33 % by TransAsia Private Capital Ltd.
5. Learned counsel representing AREO II SARL and TransAsia Private Capital Ltd. states that the law firms representing the clients shall make the payment. Let the same be done.
6. Learned counsel for the judgment-debtor states that he wishes to file an updated list of assets in proceedings against the judgment-debtor. Let the needful be done.
7. The application is disposed of.
JASMEET SINGH, J SEPTEMBER 27, 2024/NG 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 05/11/2024 at 16:14:26