Standard Chartered Bank v. Shanti Kiran India Private Limited & ORS.

$~46 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 11442/2024 & CM APPL. 47519/2024 STANDARD CHARTERED BANK .....Petitioner Through:

Mr. Sanjiv Kakra, Senior Advocate alongwith Ms. Reema Khourana and Mr. Akash Madan, Advocates.

versus SHANTI KIRAN INDIA PRIVATE LIMITED & ORS...Respondents Through:

Mr. Vikash Kumar, Advocate with Mr.

Tejas Jain, Partner for J.C.

Homecapes/R-5.

CORAM:

HON'BLE THE ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE TUSHAR RAO GEDELA

O R D E R

% 20.08.2024 1.

Present writ petition has been filed challenging the order dated 19th April, 2024 passed by DRT-I, Delhi in SA 164-2024, whereby the DRT-I has directed the parties to maintain status quo with respect to property at A2/4, Rana Pratap Bagh, Delhi-110007 ("subject property"). 2.

However, during the course of arguments, learned Senior Counsel for the petitioner states that the petitioner would be satisfied in case, this Court were to direct expeditious disposal of Misc. Appeal No.149/2024 whereby the petitioner has challenged the order dated 19th April, 2024 passed by DRT-I. He emphasises that it was only in the third auction that the petitioner was able to sell the property.

3.

Learned counsel for the auction purchaser states that the auction purchaser is a start up venture that has paid Rs.6,77,13,821/- as against a 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 23/08/2024 at 11:18:49

total sale consideration of Rs. 9,02,25,285/-. He states that the impugned order is causing immense financial loss to the auction purchaser. 4.

Keeping in view the limited prayer made by learned Senior Counsel for the petitioner and the fact that the auction purchaser has paid Rs.6,77,13,821/- as against a total sale consideration of Rs. 9,02,25,285/-, this Court dispose of the present writ petition with a direction to DRAT to decide Misc. Appeal No.149/2024 as expeditiously as possible preferably on the next date of hearing i.e. 13th September, 2024. 5.

This Court clarifies that it has not commented on the merits of the controversy. The rights and contentions of all the parties are left open. ACTING CHIEF JUSTICE TUSHAR RAO GEDELA, J AUGUST 20, 2024/ kct 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 23/08/2024 at 11:18:49