Religare Finvest Ltd v. Accentia Technologies Limited & ORS

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P. 728/2013 & IA Nos. 5896/14, 10938/15 & 947/16 RELIGARE FINVEST LTD ..... Petitioner Through:

Ms. Bhumika Kapoor, Advocate versus ACCENTIA TECHNOLOGIES LIMITED & ORS..... Respondents Through:

Mr. Rajendra Beniwal, Advocate for R-1 to 3.

Mr. Sooraj, R-3, present in person.

Mr. Rajesh P, Advocate for R-4

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 17.08.2017 Mr. Sooraj Champlathu Kunjukutty, respondent no. 3 is present in person.

On instructions from the respondent, learned counsel for the respondent states that they would clear all the dues of the petitioner and if required, sell the assets, which are stated in the affidavit dated 16.01.2016. He submits that as per the settlement with the petitioner, a sum of Rs. 48, 00,000/- had to be paid by March, 2016. He admits that there is a default and further states that the respondent shall endeavour to comply with the order urgently.

It is also stated by the parties that an award has been passed in favour of the petitioner and the petitioner has commenced execution proceedings before the Court at Bangalore.

Binding the respondent to the undertaking given to this Court, the present petition is disposed of. The respondent is restrained from selling, alienating or transferring his properties as stated in his affidavit dated 16.01.2016. In case any sale of the same is to be made to make payments to the petitioner, the same shall be with prior permission of the executing court.

The interim order will continue, till the dues of the petitioner are cleared.

The petition stands disposed of. All the pending applications also stand disposed of. Dasti.

JAYANT NATH, J AUGUST 17, 2017/P