M/S Amtek Geophysical Pvt Ltd v. M/S Oil & Natural Gas Corporation Ltd

$~17 * IN THE HIGH COURT OF DELHI AT NEW DELHI + EX.P. 186/2014 M/S AMTEK GEOPHYSICAL PVT LTD ..... Decree Holder Through: Mr. Samrat K. Nigam, Adv.

Versus

M/S OIL & NATURAL GAS CORPORATION LTD ..... Judgement Debtor Through: Mr. Ameet Singh and Mr. Ankit Malik, Advs.

CORAM:

HON'BLE MR. JUSTICE V. KAMESWAR RAO

O R D E R

% 26.05.2016 EA (OS) 261/2016 1.

This is an application under Section 151 of Code of Civil Procedure, 1908 filed by the decree holder for release of the amount deposited by the judgment debtor before this Court in terms of orders dated 29th October, 2015 and 14th January, 2016.

2.

Learned counsel for the judgment debtor states that an amount of Rs.4,73,43,417/- was deposited by the judgment debtor before this Court on 18th January, 2016.

3.

Reply to the present application has been filed wherein in Para 8 the judgment debtor has stated as under:

"8. That in reply to Para 8 of the application, it is most respectfully submitted that the Judgement debtor did not accept the contention of the decree holder that the amount should be released in favour of the counsel of Decree Holder(as the correspondence to the registered office of Amtek came unanswered in the past. Copy of registered letter and speed post sent to available address of the company returned as undelivered are annexed herewith as annexure 'A'). The amount should be only released in favour of Amtek Geophysical Pvt. Ltd. as also the decreetal amount deposited in the court stands in the name of Amtek Geophysical Pvt. Ltd. in book of accounts of ONGC which can be settled only if amount is released in favour of Amtek Geophysical Pvt. Ltd. Further, amount is also required to be released in favour of Amtek Geophysical Pvt. Ltd. for due discharge of ONGC liability in terms of relevant provisions of subject contract."

4.

From the above, it is noted that the judgment debtor has unequivocally stated that the amount be released in favour of Amtek Geophysical Pvt. Ltd. (the decree holder).

5.

Accordingly, the amount as deposited by the judgment debtor including the accrued interest, if any, shall be released to the decree holder through its counsel in view of the authorisation of the decree holder in favour of Mr. Samrat K. Nigam, Adv. The cheque / draft shall be prepared in the name of the decree holder, i.e, Amtek Geophysical Pvt. Ltd. 6.

In view of the release of the amount in favour of the decree holder, Mr. Samrat K. Nigam, learned counsel for the decree holder states, the

decree stands satisfied and no further orders are required to be passed. The application and the Execution Petition No.186/2014 stands disposed of. EA (OS) 926/2014 Dismissed as infructuous.

V. KAMESWAR RAO, J MAY 26, 2016 jg