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High Court of DelhiOMP (ENF.) (COMM.)/75/2017

Deepali Designs & Exhibits Private Limited v. Organizing Committee Commonwealth Games & ORS.

2024-08-22Hon'Ble Ms. Justice Rekha Palli2 pages

$~15 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ OMP (ENF.) (COMM.) 75/2017, EX.APPL.(OS) 3818/2022 & EX.APPL.(OS) 1248/2024 DEEPALI DESIGNS & EXHIBITS PRIVATE LIMITED .....Decree Holder Through:

Mr.

Raghvendra K.

Singh, Mr.

Abhishek Gupta & Mr. Gyanendra Rathour, Advs.

versus ORGANIZING COMMITTEE COMMONWEALTH GAMES & ORS.

.....Judgement Debtors Through:

Mr. Aditya Verma & Mr. K. Rigved Prasad, Advs.

for Pico Events Marketing India Pvt. Ltd.

Mr.

Debesh Panda, Sr.

Standing counsel with Ms. Zehra Khan, Jr.

Standing Counsel, Mr. Vikramaditya Singh, Jr.

Standing Counsel, Mr.

Ojaswa Pathak & Ms.

Anauntta Shankar, Advs.

for Income Tax Department.

Mr. Apoorv Kurup & Ms. Nidhi Mittal, Advs. for UOI

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 22.08.2024 1.

This is a petition under Section 36 of the Arbitration & Conciliation Act, 1996 seeking enforcement of the arbitral award dated 03.12.2015. 2.

It is stated that the decree-holder and Pico Deepali Overlays The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 31/08/2024 at 11:37:00

Consortium have arrived at a settlement dated 19.07.2024, pursuant to which, from the amount lying deposited in this Court, Rs. 55,67,90,480/- is to be released to the decree-holder.

3.

In view of the settlement and in view of the amount lying deposited in this Court already, it is directed that an amount of Rs. 55,67,90,480/- be released to Deepali Designs & Exhibits Private Limited. From the interest accrued on the deposit made by the judgment debtor, another sum equivalent to 29.36% be also released to the decree-holder. 4.

With these observations and on payment of the said amounts, the execution stands satisfied. As and when the claims of Pico Deepali Overlays Consortium are adjudicated, the decree-holder will be at liberty to file an application to revive the execution petition, seeking further amounts under the settlement.

5.

The amounts to be paid to the decree holder herein shall be paid from the amounts lying deposited in OMP (ENF.) (COMM.) 3/2016. 6.

The execution petition is disposed of.

7.

In case the amounts are not paid, the decree-holder is at liberty to revive the execution petition.

JASMEET SINGH, J AUGUST 22, 2024/NI Click here to check corrigendum, if any The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 31/08/2024 at 11:37:00