Kjmc Global Market India Ltd. (Now Known As Kjmc Corporate Advisors (India) Limited) v. Jammu And Kashmir State Power Development Corporation

$~45 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 93/2016 KJMC GLOBAL MARKET INDIA LTD.

(NOW KNOWN AS KJMC CORPORATE ADVISORS (INDIA) LIMITED) ..... Petitioner Through Mr V. Ganda, Senior Advocate with Mr Chandrachur Bhattacharya, Advocate.

versus JAMMU AND KASHMIR STATE POWER DEVELOPMENT CORPORATION ..... Respondent Through Mr Sushant Garg, Advocate.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R

% 25.05.2017 IA No. 9486/2016 1.

Mr Garg, learned counsel appearing for the respondent states that he is carrying a draft for a sum of ₹6,59,15,913/- which shall be deposited with the Registrar General of this Court on or before 26.05.2017. The Registry is directed to encash the aforesaid amount and release the sum to the petitioner subject to the petitioner furnishing an unconditional bank guarantee of an equivalent amount with the Registrar General of this court. The bank guarantee shall be initially valid for a period of three months. 2.

The respondent shall further deposit the remaining future interest for the period after 03.07.2012 till the date of deposit within a period of four weeks.

3.

The petitioner had also claimed a sum of ₹39,72,848 as costs incurred

from 03.07.2012 to 14.07.2016.

4.

Mr Ganda, learned Senior counsel appearing on behalf of the petitioner states, on instructions of Mr Rajnish Jain, Director of KJMC Global Market India Ltd. (Petitioner), that the petitioner will not seek recovery of any such costs. Thus, it is clarified that with the payment of further interest from 03.07.2012 till today at the rate of 12% per annum on the sum of ₹4,45,37,779/-, the entire awarded amount would stand satisfied. 5.

List on 17.08.2017.

6.

Order dasti.

VIBHU BAKHRU, J MAY 25, 2017 pkv