M/S Kalyanpur Cement Ltd v. Union Of India

$~10 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Decision delivered on: 04.03.2024 + RFA(OS) 45/2017 DALMIA CEMENT (BHARAT) LIMITED ..... Appellant Through:

Mr Ashish Dholakia, Sr Adv. with Ms Niyati Kohli, Mr Pratham Veer Agarwal, Mr Abhay Agnihotri and Mr Vikram Choudhary, Advs.

versus UNION OF INDIA ..... Respondent Through:

Mr Vijay Joshi, Sr Panel Counsel for UOI.

CORAM:

HON'BLE MR. JUSTICE RAJIV SHAKDHER HON'BLE MR. JUSTICE AMIT BANSAL [Physical Court Hearing/Hybrid Hearing (as per request)] RAJIV SHAKDHER, J. (ORAL):

1.

Pursuant to the order dated 15.02.2024, Mr Ashish Dholakia, learned senior counsel, who appears on behalf of the appellant, has returned with instructions.

1.1 Mr Dholakia says that he has instructions not to press the appeal any further in view of the following circumstances: (a) Although a public announcement was made, the respondent/Union of India (UOI) has not lodged its claims with the Resolution Professional (RP). (b) The resolution plan concerning the appellant, which was approved by the National Company Law Tribunal (NCLT) via order dated 31.01.2018, JAIN RFA(OS)No.45/2017 Page 1 of 2 13:56:22

which, as indicated above, did not include the claim of the respondent/UOI, would result in the extinguishment of the respondent's/UOI's claims. 2.

Mr Vijay Joshi, learned counsel, who appears on behalf of the respondent/decree holder, i.e., UOI, contends to the contrary. 3.

On being queried, Mr Joshi informs us that execution proceedings have not been initiated yet.

4.

Therefore, the appeal is closed with the direction that if and when the execution proceedings are initiated by the respondent/UOI, objections, if any, filed by the appellant will be dealt with in accordance with the law. 4.1 Both parties will be at liberty to put forth their rights and contentions before the executing court.

5.

RAJIV SHAKDHER, J AMIT BANSAL, J MARCH 4, 2024 aj JAIN RFA(OS)No.45/2017 Page 2 of 2 13:56:22