Suresh Sehgal & ANR. v. M/S Ferrous Infrastructure (P) Ltd & ANR.

$~11 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CONT.CAS(C) 306/2020 SURESH SEHGAL & ANR.

..... Petitioners Through Mr. Aseem Mehrotra, Advocate.

versus M/S FERROUS INFRASTRUCTURE (P) LTD & ANR.

..... Respondents Through Ms. Namita Mathews, Advocate for respondents.

Mr. Punit Bhalla, Advocate for ICICI Bank.

CORAM:

HON'BLE MR. JUSTICE SANJEEV SACHDEVA

O R D E R

% 20.08.2020 CONT.CAS(C) 306/2020 & CM APPL.17713/2020 (for impleadment), CM APPL.17714/2020 (for directions) 1.

The hearing was conducted through video conferencing. 2.

Mr. Punit Bhalla, learned counsel appearing for ICICI Bank submits that there is no credit balance in the account of the respondent Company and further as the respondents have defaulted in making the payment of the commission for issuance of a bank guarantee, the Bank has to recover certain amounts from the said Company. 3.

The statement is taken on record.

MAGGU to HMJ Sanjeev Sachdeva.

CONT.CAS(C) 306/2020

4.

Learned counsel appearing for respondent No.1 submits that, in terms of the statement given on 28.02.2020 in the execution petition, regular monthly instalment shall be paid by the respondent on or before 7th day of each English Calendar month and further payments, as stipulated in the said statement, shall also be paid by the respondent in accordance with the said statement.

5.

The statement is taken on record.

6.

In view of the above statement, the learned counsel for the petitioner seeks leave to withdraw the petition reserving liberty of the petitioner to approach this Court afresh if need so arises. 7.

In view of the above, petition is dismissed as withdrawn with liberty as prayed for.

8.

Copy of the order be uploaded on the High Court website and be also forwarded to learned counsels through email. SANJEEV SACHDEVA, J AUGUST 20, 2020 st MAGGU to HMJ Sanjeev Sachdeva.

CONT.CAS(C) 306/2020