Religare Finvest Limited. v. Vaishno International Private Limited & ORS.

$~49 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P.(I) 555/2015 RELIGARE FINVEST LIMITED.

..... Petitioner Through Mr.Sanjeev Singh, Adv.

versus VAISHNO INTERNATIONAL PRIVATE LIMITED & ORS.

..... Respondents Through Ms.Purti Marucha, Adv.

CORAM:

HON'BLE MR. JUSTICE MANMOHAN SINGH

O R D E R

% 26.07.2016 O.M.P.(I) 555/2015 & I.A. No.3234/2016 (under Section 22(1) of SICA) The respondents have filed an application under Section 22(1) of SICA seeking stay of the present proceedings and restrain the petitioner from taking any coercive action against the respondents. Counsel for the petitioner has referred Annexure A-1 i.e. letter dated 9th November, 2015 issued by the Government of India Ministry of Finance, Department of Financial Services, Board for Industrial and Financial Reconstruction, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi-110 001 wherein it is mentioned in sub para that as per the decision of the Board in regard to registration of a reference the company is restrained from disposing of or

alienating in any manner any fixed assets of the company without the consent of the Board.

Counsel for the petitioner has suggested that in case the properties which are the subject matter of the present petition are also covered in the said para, the petitioner at this stage will not press this petition. Counsel for the respondents is agreeable to the suggestion made by the learned counsel for the petitioner. Accordingly, the petition and the application are disposed of.

MANMOHAN SINGH, J.

JULY 26, 2016/jk