Shanti Packaging Industries & ORS v. Magma Fincorp Ltd

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. 1133/2014 SHANTI PACKAGING INDUSTRIES & ORS ..... Petitioner Through None versus MAGMA FINCORP LTD ..... Respondent Through None

CORAM:

SH. DINESH KUMAR SHARMA, REGISTRAR GENERAL

O R D E R

% 17.12.2018 Vide order dated 30.10.2018, the Hon'ble Court has inter alia observed as under:- "2.

Parties shall be bound by the settlement entered into between them and the Petitioners shall ensure that the payments are duly made to ARCIL. The sum of Rs.35 lakhs has been agreed between the parties to be paid to the Petitioners immediately upon being released by this Court. Accordingly, the sum of Rs.35 lakhs along with interest accrued thereon be released to ARCIL by the Registrar General of this Court. 3.

Counsel for the ARCIL shall appear before the Registrar General alongwith the counsel or the Petitioner and an authorized signatory of ARCIL to accept the demand draft on behalf of ARCIL. 4.

Vide order dated 13th April, 2017 passed in FAO(OS) 108/2017 the Ld. Division Bench had directed as under:- "Issue notice to the respondent returnable for 26th July, 2017. After considering the record and submissions of learned counsel for appellants, the Court is of the opinion that subject to deposit of Rs.35.00 Lacs - approximateing 50% of the awarded amount (Rs.71,79,693.75/-) within three weeks, with the Registrar of this Court the operation of the impugned order as well as the decree arising from the award dated 27.05.2014 are stayed till next date of hearing.

Copy of order be given dasti under signature of Court Master." 5.

ARCIL shall give adjustment of the entire amount received from the Registrar General (Rs.35 lakhs along with interest).

Adjustment for the amount received by ARCIL will be given to the Petitioner and the instalments would be reduced accordingly. 7.

List before Registrar General for release of demand draft in favour of ARCIL on 12th December, 2018."

As per office report, Registrar(B&A) in compliance of the above said order has made an endorsement on the back of the FDR bearing No.15530310738979 dated 17.05.2017 for Rs.35 Lakhs issued UCO Bank, Delhi High Court Branch for discharging it in favour of ARCIL.

In view of the above, FDR is discharged in terms of order dated 30.10.2018 of the Hon'ble Court for handing over it to the Authorized signatory of ARCIL. Since there is no appearance on behalf of the ARCIL, the matter is renotify for 21.12.2018.

DINESH KUMAR SHARMA REGISTRAR GENERAL DECEMBER 17, 2018 ss