Shribalaji Export & Mfg. (P) Ltd. v. Value Added Coating Solution Pvt. Ltd. & ORS.

$~34 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. (COMM) 4/2015 SHRIBALAJI EXPORT & MFG. (P) LTD.

.....Petitioner Through:

Mr. Sajal Jain, Adv. for applicant banks (Axis Bank and PNB) (through v/c) versus VALUE ADDED COATING SOLUTION PVT. LTD. & ORS. .....Respondents Through:

Mr. Shubham Kumar and Mr. Ajay Vikram Singh, Advs. (through v/c)

CORAM:

HON'BLE MR. JUSTICE SACHIN DATTA % 17.12.2024

O R D E R

IA No.48099/2024 1.

This is an application seeking substitution of the original petitioner i.e. Shribalaji Export &Mfg. (P) Ltd. with the applicant, i.e. Axis Bank and Punjab National Bank, being assignees of the "debts / non-readily realisable assets" of Shribalaji Export & Mfg. (P) Ltd.

2.

The assignment took place vide order dated 02.08.2021, passed by the NCLT, Principal Bench, New Delhi and through an Assignment Agreement dated 13.01.2022. The present application has consequently been filed by the concerned banks.

3.

The application is not opposed by learned counsel for the nonapplicant. Consequently, the same is allowed. 4.

Let an amended memo of parties be filed within a period of one week. 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 23/12/2024 at 12:12:59

O.M.P. (COMM) 4/2015 5.

Learned counsel for the parties submit that a settlement has been arrived at between the parties. Consequently, all outstanding disputes between the parties stand resolved in terms thereof. 6.

In the light thereof, learned counsel for the petitioner seeks to withdraw the present petition. The present petition is accordingly, dismissed as withdrawn.

SACHIN DATTA, J DECEMBER 17, 2024/cl 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 23/12/2024 at 12:12:59