High Court of DelhiW.P.(C)/5009/2015

M/S. Housing And Urban Development Corporation Ltd. v. M/S.Prabhu Dhan Commercial Pvt. Ltd. And ORS.

2016-02-22Hon'Ble Mr. Justice Pradeep Nandrajog,Hon'Ble Ms. Justice Mukta Gupta2 pages

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 5009/2015 M/S. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD.

..... Petitioner Represented by:

Mr.Ashok Kumar Jain, Advocate with Mr.Pankaj Jain and Ms.Yamini Sharma, Advocates versus M/S.PRABHU DHAN COMMERCIAL PVT. LTD. AND ORS.

..... Respondents Represented by:

Mr.Sharad Bansal, Advocate for R-1

CORAM:

HON'BLE MR. JUSTICE PRADEEP NANDRAJOG HON'BLE MS. JUSTICE MUKTA GUPTA

O R D E R

% 22.02.2016 1.

It is not in dispute that M/s.Prabhu Dhan Commercial Pvt. Ltd. was substituted in the recovery proceedings in place of SASF because during the pendency of the recovery proceedings the debt was assigned. 2.

Pursuant to a decree in favour of the petitioner the secured assets of the debtor were proceeded against for sale and since SASF also had a lien on the secured assets it was made a party by the petitioner itself, and rightly so. 3.

M/s.Prabhu Dhan Commercial Pvt. Ltd. is a successor-in-interest of SASF and has therefore rightly been substituted as a respondent. 4.

Petitioner's grievance that the impugned order determines that M/s.Prabhu Dhan Commercial Pvt. Ltd. has a pari passu charge is incorrect because no such finding has been returned.

The impugned order only W.P.(C) No.5009/2015

records that as per M/s.Prabhu Dhan Commercial Pvt. Ltd. it has a pari passu charge over the secured assets. This finds a mention in the narrative of the facts and we find no determinative opinion expressed thereon, for the obvious reason this was not the stage to determine whether M/s.Prabhu Dhan Commercial Pvt. Ltd. had a pari passu charge. We simply observe that this aspect of the matter would be decided before the amount realized by sale of the secured assets is disbursed to the petitioner. 5.

The petitioner is accordingly dismissed because the only grievance of the petitioner is that the impugned order finds determinatively that M/s.Prabhu Dhan Commercial Pvt. Ltd. has a pari passu lien, a grievance which is imaginary and does not flow out from the impugned order. 6.

No costs.

CM No.9052/2015 Dismissed as infructuous.

PRADEEP NANDRAJOG, J.

MUKTA GUPTA, J.

FEBRUARY 22, 2016 mamta W.P.(C) No.5009/2015