Sohan Bahadur Gurong v. Anand Divine Developers Pvt. Ltd.

$~33 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 145/2022 and EX.APPLs.(OS) 3265/2022, 412/2023, 726/2023 SOHAN BAHADUR GURONG .....Decree Holder Through:

Mr. Rajesh Yadav, Sr. Adv. along with Mr. Udayan Khandelwal and Mr.

Shubhankar Sharma, Advs.

versus ANAND DIVINE DEVELOPERS PVT. LTD......Judgement Debtor Through:

Mr. Kartik Nayar and Mr. Krish Kalra, Advs.

along with Mr.

Getamber Anand and Mr. Naveen Joshi, Directors in person.

Mr. Kartik Bhalla, Adv. and Mr.

Sunil Singh, AR for ICICI Bank.

CORAM:

HON'BLE MR. JUSTICE SACHIN DATTA

O R D E R

% 23.12.2024 1.

The Directors of the judgment debtor No.1 are present in Court. 2.

With the consent of the respective counsel and the Directors of judgment debtor no.1, the following directions are issued: (i) The amount of Rs.3.15 Crores, deposited by the judgment debtor in this Court shall be forthwith released to the decree holder.

(ii) The outstanding loan of the ICICI Bank shall be cleared by the judgment debtor on or before 28.02.2025. It is undertaken by the learned counsel for the judgment debtor and by Directors of the judgment debtor, who are present in person, that the entire 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 30/12/2024 at 12:20:27

amount payable to ICICI Bank shall be cleared/ paid without fail and a letter of foreclosure shall be obtained on or before 28.02.2025. Any EMI that may be payable till then shall be paid by the judgment debtor.

(iii) A sum of Rs.3,95,372/- shall be paid by the judgment debtor to the decree holder on or before 28.02.2025.

(iv) In case, there is any default in making the above payments, either to ICICI Bank or to the decree holder, the entire liability under the award shall revive. Further, any default on the part of the judgement debtor in making the above payments shall be treated as a violation of an undertaking given to this Court. (v) The decree holder shall execute such documents as may be required by the judgment debtor in respect of the property in question, as envisaged in the award.The judgment debtor shall be entitled to deal with / alienate the property in question. 3.

No further directions are required to be passed in the present proceedings. The present petition, alongwith pending applications, are accordingly disposed of.

SACHIN DATTA, J DECEMBER 23, 2024/cl 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 30/12/2024 at 12:20:27