Trustline Securities Ltd v. Vag Holding Pvt Ltd And ORS

$~9 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CONT.CAS(C) 1178/2024 TRUSTLINE SECURITIES LTD .....Petitioner Through:

Mr. Ashish Mohan, Sr. Adv.

with Mr. Hemant Manjani, Adv.

versus VAG HOLDING PVT LTD AND ORS .....Respondents Through:

Mr. Jopy P. Varghese, Adv.

CORAM:

HON'BLE MR. JUSTICE DHARMESH SHARMA

O R D E R

% 28.02.2025 1.

Learned counsel for the respondents appearing through video conferencing submits that in compliance of the previous directions dated 13.01.2025 passed by this Court, a sum of Rs. 15 lacs have been invested in the Fixed Deposit but the Registry has not accepted the original Fixed Deposit Receipt for the same being beyond the time which was prescribed vide the previous order. 2.

The Registry is directed to accept the Fixed Deposit Receipt, which be tendered by the respondents within 10 days from today. 3.

Learned Senior Counsel appearing for the petitioner through Video Conferencing, however, points out that although in terms of the previous directions of this Court dated 13.01.2025, they have written an email to the National Stock Exchange to release the freeze on the shareholding of the respondent, they have received a reply dated 03.02.2025 to the effect that the same cannot be done at their end since the respondents, who are trading members, are in 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 05/03/2025 at 14:46:42

contravention of certain other contractual liabilities towards some other members.

4.

Be that as it may, learned Senior Counsel for the petitioner submits that pursuant to the earlier order, they are ready and willing to withdraw all pending execution applications against the respondents. 5.

Learned counsel for the respondents has no objection if the present contempt petition is disposed of as satisfied with liberty to the petitioner to retrieve the FD for the amount of Rs. 15 lacs to be deposited with the Registry of this Court.

6.

Accordingly, the present contempt petition is disposed of as satisfied with liberty to the petitioner to retrieve the Fixed Deposit Receipt of Rs. 15 lacs from the Registry of this Court on such deposite by the respondent within ten days and thereafter realize the amount therein in its favour.

7.

The present contempt petition stands disposed of. DHARMESH SHARMA, J FEBRUARY 28, 2025/sadiq 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 05/03/2025 at 14:46:42