Delhi High Court - Orders
Aditya Birla Finance Limited vs Siti Networks Limited & Ors on 8 July, 2022
Author: V. Kameswar Rao
Bench: V. Kameswar Rao
$~9
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(I) (COMM.) 414/2021 & I.As. 4739/2022, 6182/2022,
7938/2022, 10296/2022
ADITYA BIRLA FINANCE LIMITED
..... Petitioner
Through: Mr. Darpan Wadhwa, Sr. Adv. with
Mr. Aseem Chaturvedi, Ms. Radhika
Khanna, Mr. Siddhant Kumar,
Mr. Ravitej, Ms. Milika Jalan and
Ms. Neelakshi Bhadauria, Advs.
versus
SITI NETWORKS LIMITED & ORS.
..... Respondents
Through: Mr. Parag Tripathi, Sr. Adv. with
Ms. Ritwika Nanda and Ms. Akshita,
Advs. for R-1
Mr. P. Chidambaram, Sr. Adv. and
Mr. Sandeep Sethi, Sr. Adv. with
Ms. Bindi Dave, Mr. Aman Raj
Gandhi, Mr. Vardaan Bajaj and
Mr. Pranay Tuteja, Advs. for R-2
CORAM:
HON'BLE MR. JUSTICE V. KAMESWAR RAO
ORDER
% 08.07.2022 I.A. 10296/2022
1. This is an application filed by the petitioner with the following prayers:
"It is therefore, most respectfully prayed that this Hon‟ble Court may be pleased to:
(a) allow the present application and permit the Applicant to Signature Not Verified Digitally Signed By:ASHEESH KUMAR YADAV Signing Date:13.07.2022 11:13:13 withdraw the Deposit Amount of INR 13,50,00,000 (Rupees Thirteen Crores Fifty Lakhs) deposited with the Hon‟ble Court by Respondent No. 1 or
(b) In the alternative to prayer (a), allow the present application and permit the Applicant to withdraw the Deposit Amount of INR 13,50,00,000 (Rupees Thirteen Crores Fifty Lakhs) deposited with the Hon‟ble Court by Respondent No. 1 in exchange for a bank guarantee of equal amount to be furnished by the Applicant; and
(c) pass such order or further order(s) as this Hon‟ble Court may deem fit and proper in the facts and circumstances of the case and in the interest of justice."
2. Mr. Darpan Wadhwa, learned Senior Counsel appearing for the petitioner fairly states that this application is primarily directed against the respondent No.1.
3. Issue notice. Ms. Ritwika Nanda, Advocate accepts notice for the respondent No.1. Reply be filed by the respondent No.1 within one week. Rejoinder thereto, be filed within two days thereafter.
4. Mr. Darpan Wadhwa states that only an amount of ₹13.5 Crores has been deposited by the respondent No.1 despite direction for the deposit of all amounts.
5. Mr. Parag Tripathi, learned Senior Counsel appearing for the respondent No.1 has given some justification for not depositing the complete amount. Appropriate shall be, an affidavit is filed by the respondent No.1, why the complete amount as required has not been deposited, within one week.
Signature Not Verified Digitally Signed By:ASHEESH KUMAR YADAV Signing Date:13.07.2022 11:13:136. Mr. Parag Tripathi states that a further amount of ₹2 Crores shall also be deposited within two days.
7. Re-notify on July 19, 2022.
V. KAMESWAR RAO, J.
JULY 8, 2022/aky Signature Not Verified Digitally Signed By:ASHEESH KUMAR YADAV Signing Date:13.07.2022 11:13:13