Noble Co-Operative Bank Ltd v. Vivek Prakash & ORS.
$~119 *
IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 11866/2025 & CM APPL. 48457/2025, CM APPL. 8964/2026, CM APPL. 15795/2026 NOBLE CO-OPERATIVE BANK LTD .....Petitioner Through:
versus VIVEK PRAKASH & ORS.
.....Respondent Through:
Mr.Rakesh Kumar, SPC with Mr.
Sunil, Adv.
Ms. Amrita Singh, Mr. Prasang Sharma, Advs. for R-3
CORAM:
HON'BLE MR. JUSTICE JASMEET SINGH
O R D E R
% 16.03.2026 1.
This is a writ petition filed under Article 226 of the Constitution of India seeking the following prayers :- "A. Issue Writ Order in the nature of Mandamus or such other Writ as deemed appropriate by this Hon'ble Court, thereby commanding Respondent No. 03, not to take any further steps under SARFAESI proceedings initiated against the secured asset of Respondent No. 01 being "Flat-G-201, 2nd Floor, Tower-G, The Jewel of Noida, Plot GH 14, Sector 75 Noida, U.P. 201301" which is subject matter of Repayment Plan under I.A. No. 3865 of 2024 in C.P. (IB) No. 71 of 2022 pending consideration before the Hon'ble NCLT, Bench-V, New Delhi, in terms of the provisions of Insolvency and Bankruptcy Code, 2016; and/or B. Issue Writ Order in the nature of Mandamus or such other Writ as deemed appropriate by this Hon'ble Court, The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
thereby restraining the Respondent No. 01 and/or 03from taking any action or dealing with respect to the secured asset of Respondent No. 01 being "Flat-G-201, 2nd Floor, Tower-G, The Jewel of Noida, Plot GH 14, Sector 75 Noida, U.P. 201301" during the pendency and until final disposal of Repayment Plan filed by Respondent No. 02 vide I.A. No. 3865 of 2024 in C.P. (IB) No. 71 of 2022 which is subjudice before the Hon'ble NCLT, Bench-V, New Delhi; and/or C. Issue Writ Order in the nature of Mandamus or such other Writ as deemed appropriate by this Hon'ble Court, thereby directing NCLT, New Delhi i.e., Hon'ble NCLT, Bench-V, New Delhi, to expeditiously decide and adjudicate I.A. No. 3865 of 2024 in CP (IB) No. 71/ND/2022, which is filed by Respondent No.
02 under section 112 of IBC, 2016 seeking approval of Repayment Plan submitted by Respondent No. 01, from the Hon'ble NCLT, Bench-V, New Delhi and further may be directed to dispose of the connected matters thereof; and/or D. Issue Writ Order in the nature of Mandamus or such other Writ as deemed appropriate by this Hon'ble Court, thereby directing Respondent No. 04 to take such necessary steps in order to provide proper allocation or accommodation of court room for NCLT Bench-VI at New Delhi so that, respective benches of Court Room-V and VI of NCLT New Delhi can function for full day which shall be in the interest of justice and shall offer fair opportunities of The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
being heard to the litigants at large before respective courts; and/or..."
2.
During the pendency of the proceedings, the parties arrived at a Settlement before the Delhi High Court Mediation Centre on 24.02.2026 (though the report of the committee is awaited). However, the original Settlement Agreement has been handed over in Court today.
3.
Mr. Raghav Bhardwaj is present in Court and has been duly identified by Mr. Govind Bhardwaj and Ms. Ashwarya, learned counsel. Mr. Vivek Prakash is also present and has been identified by Mr. Mahek Maheshwari, learned counsel. Ms. Nirmal Bhesoni is present and has been identified by Mr. P.K. Shukla, learned counsel. Mr. Sahil Sahu is present and has been identified by Ms. Amrita Singh and Mr. Prasang Sharma, learned counsel. Ms. Shubhra Prakash is present and has been identified by Mr. Mahek Maheshwari, learned counsel. 4.
I have perused the Settlement Agreement and find the same to be legal and in order.
5.
In view of this statement, Mr. Bhardwaj, learned counsel for the petitioner does not press the present petition and the parties shall remain bound by the terms and conditions contained therein. 6.
In case there is any default, the aggrieved party shall be entitled to avail of their legal rights.
7.
In view of the above, the present petition is disposed of. JASMEET SINGH, J MARCH 16, 2026/sp The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.