Times Guaranty Financial Ltd. v. Atv Products India Ltd.

$~24.

* IN THE HIGH COURT OF DELHI AT NEW DELHI + CS(OS) 728/1997 TIMES GUARANTY FINANCIAL LTD.

..... Plaintiff Through:

Ms. Ankita Jain, Advocate versus ATV PRODUCTS INDIA LTD.

..... Defendant Through:

CORAM:

HON'BLE MR. JUSTICE VIPIN SANGHI

O R D E R

% 11.02.2016 Learned counsel for the plaintiff states that the bar under Section 22 of SICA is no longer applicable since the proceedings before the BIFR have been concluded.

I find that the jurisdictional value of the present suit is below Rs.1 crore, even though the same pertains to a commercial transaction. Accordingly, in view of the notification No.2718/DHC/Orgl. dated 25.11.2015, issued under Section 4 of the Delhi High Court (Amendment) Act, 2015 (Act 23 of 2015), the suit is transferred to Patiala House Courts, New Delhi on 02.05.2016.

The learned Distt. Judge shall proceed after issuance of notice to the defendant in the matter.

VIPIN SANGHI, J FEBRUARY 11, 2016 sr