Lal Singh v. Securities And Exchange Board Of India Through Its Recovery Officer

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 7582/2018 LAL SINGH ..... Petitioner Through Mr Prakash Priyadarshi, Advocate.

versus SECURITIES AND EXCHANGE BOARD OF INDIA THROUGH ITS RECOVERY OFFICER & ANR ..... Respondent Through

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R

% 23.07.2018 CM 28982/2018 1.

Allowed, subject to all just exceptions.

2.

The application is disposed of.

W.P.(C) 7582/2018 3.

The petitioner has filed the present petition, inter alia, praying as under:- "Issue the writ (s)/direction (s) thereby directing the respondent No. 1 to speed up the recovery proceedings against the respondent no. 2 and to ensure the repayment of amount of petitioner in time bound manner."

4.

The petitioner states that he made a deposit of a sum of ₹65,000/- with respondent no.2 (M/s Sunshine Infrabuild Corporation Ltd.) and respondent no.1 is currently in the process of liquidating respondent no.2's assets to ensure payment of its dues. The petitioner states that the deposit is now due

at a maturity value of ₹1,30,000/-. The petitioner's grievance is that although two years have already lapsed, the petitioner has no knowledge of the status of the said proceedings. In view of the above, respondent no.1 is directed to complete the proceedings as expeditiously as possible. The learned counsel appearing for the respondent no.1 also states that respondent no. 1 shall respond to the representation made by the petitioner and inform him to the current status of the proceedings. Respondent no. 1 is bound down to the aforesaid statement.

5.

The petition is disposed of with the aforesaid directions. VIBHU BAKHRU, J JULY 23, 2018 pkv