INDERPREET SINGH AHLUWALIA vs CRYSTAL CREDIT CORPORATION LIMITED (IN LIQUIDATION) AND ANR.

$~34
* IN THE HIGH COURT OF DELHI AT NEW DELHI
%     Date of decision: 19.12.2023

+ CO. APP. 30/2023 and CM 66128/2023
INDERPREET SINGH AHLUWALIA ….. Appellant
Through: Mr Jayant Bhushan, Sr. Advocate with Mr Jaspal Singh, Ms Namrah Nasir and Mr Amartya Bhushan, Advocates.

versus

CRYSTAL CREDIT CORPORATION LIMITED (IN LIQUIDATION) AND ANR. ….. Respondents
Through: Ms Ruchi Sindhwani, Sr. Standing Counsel with Ms Megha Bharara and Ms Saumya Pawar, Advocates for OL.

CORAM:
HON’BLE MR JUSTICE RAJIV SHAKDHER
HON’BLE MR JUSTICE GIRISH KATHPALIA
[Physical Hearing/Hybrid Hearing (as per request)]

RAJIV SHAKDHER, J.: (ORAL)
CM APPL. 66126/2023
1. Allowed, subject to just exceptions.
CO. APP. 30/2023, CM APPLs. 66125/2023 [Application filed on behalf of the appellant seeking interim relief] and 66127/2023 [Application filed on behalf of the appellant seeking leave to place additional documents on record]
2. Issue notice.
2.1 Ms Ruchi Sindhwani, learned senior standing counsel, who appears on behalf of the Official Liquidator (OL), accepts notice.
3. With the consent of counsel for the parties, the appeal is taken up for final disposal at this stage itself.
4. This appeal is directed against the order dated 15.12.2023 passed by the learned Judge in CO. APPL. 930/2023 preferred in Company Petition (CO. PET.) 389/2001.
5. Mr Jayant Bhushan, learned senior counsel, who appears on behalf of the appellant, says that the relief sought in the appeal is limited to the extension of time for depositing the balance 75% of the auction amount.
6. It is not in dispute that the appellant has already deposited 25% of the auction amount. The said amount was deposited on 19.10.2023. It is also not in dispute that the balance 75% of the auction amount was required to be deposited by 18.12.2023.
7. Having regard to the circumstances obtaining in this case, this appeal is disposed of with the following directions:
(i) The appellant is granted a further three (3) weeks to deposit the balance 75% of the auction amount. Three (3) weeks will commence from today.
(ii) The appellant and/or his authorized representative will have the liberty to inspect the documents available in the custody of the OL concerning the subject property.
(iii) The impugned order shall stand modified to the extent of the directions issued hereinabove.
8. Needless to add, if the appellant pays the balance 75% of the auction amount and the conveyance deed is executed in his favour, he would have the locus in law to defend the demand raised by the Municipal Corporation of Delhi (MCD).
9. That said, it is made clear that if the balance amount is not deposited within the time frame given above, the OL will have the liberty to act as per the terms and conditions of the auction.
9.1 Pending applications shall stand closed.
10. Parties will act based on the digitally signed copy of the order.

RAJIV SHAKDHER, J

GIRISH KATHPALIA, J
DECEMBER 19, 2023 / tr

CO. APP. 30/2023 Page 3 of 3