Indiabulls Financial Services Ltd v. Broadband India Ltd

$~4 * IN THE HIGH COURT OF DELHI AT NEW DELHI + EX.P. 215/2011 INDIABULLS FINANCIAL SERVICES LTD ..... Decree Holder Through : Mr.Samer Talwar and Mr.T.Vishnu, Advs.

versus BROADBAND INDIA LTD ..... Judgement Debtor Through : None

CORAM:

HON'BLE MR. JUSTICE YOGESH KHANNA

O R D E R

% 09.02.2018 The learned counsel for the petitioner has referred to order dated 08.03.2017 which runs as under :

"The authorized representative of Religare Securities is present in the court and states that the Religare Securities is not in a position to effect the sale of the shares as the same are not listed, however, Religare Securities will transfer the shares in the Demat account of the persons as may be directed.

The learned counsel for the Decree Holder seeks two weeks time to file an appropriate application for attachment and sale of 751572 shares of IOL Netcom Limited.

List on 20.04.2017."

It is submitted that Religare Securities has agreed to transfer

the shares in account of persons as may be given by the petitioner. He has further referred to an order dated 20.04.2017 which runs as under :

Learned counsel for the Decree Holder requests for further time to file the application as indicated in the order dated 08.03.2017.

The Authorised Representative (AR) of Religare Securities Ltd. is present in Court and states that Religare Securities Ltd will abide by the orders as passed by this Court. He also confirms that 7,51,572 shares of IOL NETCOM LTD. are unencumbered and there is no encumbrance marked against those shares.

Let the Decree Holder file an appropriate application for sale of the said shares within a period of one week from today. Further time is granted to the Decree Holder to file the same within one week from today.

In the meanwhile, the said shares lying in the DEMAT account with the Religare Securities Limited stand attached and shall not be dealt with, till further orders.

List on 24.07.2017.

Learned counsel for the petitioner has now given the DEMAT account of NSDL and CDSL, which is as under : NSDL DP ID IN302236 DP NAME INDIABULLS VENTURES LTD.

CLIENT ID 11165520

INDIABULLS HOUSING FINANCE LIMITED CLIENT NAME CDSL DP ID 12029900 DP NAME INDIABULLS VENTURES LTD.

CLIENT ID 00147652 CLIENT NAME INDIABULLS HOUSING FINANCE LIMITED.

Religare Securities/decree holder are now directed to transfer 7,51,572 shares of IOL Netcom Ltd into the DEMAT account(s). In view of the above directions, the petition stands disposed of. Order dasti under the signature of the Court Master. YOGESH KHANNA, J FEBRUARY 09, 2018 VLD