I
NTHEHI
GHCOURTOFDELHIATNEW DELHI
JudgmentDel
i
ver
edOn:04.
05.
2020
LPA146/
2020
I
CICILOMBARDGENERALI
NSURANCECOMPANYLTD.
.
..
..
Appel
l
ant
v
ersus
I
NDI
ABULLSHOUSI
NGFI
NANCELTD.&ORS.
.
..
..
.Respondent
s
Advocat
eswhoappear
edi
nthi
scase:
FortheAppel
l
ant :
Mr.SandeepSet
hi,
SeniorAdvocat
ewithMs.
PadmajaKaul,
Mr.VarunKhanna,Mr.Aman
Chaudharyand Mr.SidhantKumar Mar wah,
Adv
ocates.
Fort
heRespondent
s :
Mr .Harish Salv
e,Seni orAdv ocat
e wi t
h Mr .
Raji
vNay ar,SeniorAdv ocatewi t
hMr .Karan
Luthr
a,Mr .Ri
shiAgr awala,Mr.AnkitBanatiand
Mr.Karti
kNay arAdv ocatesforR-1.
Mr.TusharMeht a,Sol ici
torGener alofI ndia
wit
hMr .NeerajMal hotra,SeniorAdv ocat
ewi th
Mr.AshishAggar wal,Adv ocateandMr .D. V.
Sekhar,
CGM SEBIf orR-2.
Mr.AbhishekBaid,Adv ocateforR-10/ I
DBI.
CORAM:
HON'BLEMR.JUSTI
CESI
DDHARTHMRI
DUL
HON'BLEMR.JUSTI
CETALWANTSI
NGH
JUDGMENT
SI DDHARTH MRI DUL, J. ( OPEN COURT - VI DEO CONFERENCI NG) LPA146/ 2020 Page1of7 Thepr esentmat terhasbeent akenupf orhear ingbyway ofVi deoConf erenci ngonaccountofl ockdownduet oCOVI D-19.
CM APPL. Nos.
10579/ 2020, 10580/ 2020 & 10584/ 2020 (Exempt ions) Exempt ionsal l owed, subj ectt oal lj ustexcept ions.
Theappl i cat ionsar edi sposedofaccor dingl y.
C.
M.APPL.No.
10581/ 2020 Thepr esentappl i cat ionunderSect ion151oft heCodeof Ci vi lPr ocedur e,1908 has been f il ed on behal f of t he appl i cant /appel l antseeki ngexempt ionf rom af fi xi ngcour tfees wi tht heaccompany ingappeal .
Fort her easonsst atedi ntheappl i cat ionandi nvi ew of t he pr esentpr evai l ing si tuat ion,t he same i s al l owed. The appl i cant /appel l anti sal l owedt oaf fi xther equi sit ecour tfees wi tht heaccompany ingappealwi thi naper iodoft hreeday s af tert hel ockdowni sov er.
Theappl i cat ioni sdi sposedofaccor dingl y.
C.
M.APPL.No.
10582/ 2020 Thepr esentappl i cat ionunderSect ion151oft heCodeof LPA146/ 2020 Page2of7 Ci vi lPr ocedur e,1908 has been f il ed on behal f of t he appl i cant /appel l antseeki ng exempt ion t ofi l ethe not ari zed af fi dav its i n suppor t of t he accompany ing appeal and appl i cat ions.
Fort her easonsst atedi ntheappl i cat ionandi nvi ew of t he pr esentpr evai l ing si tuat ion,t he same i s al l owed. The appl i cant /appel l anti sal l owedt ofi l etheaccompany ingappeal andt heappl i cat ionswi thoutnot ari zedaf fi dav its,subj ectt othe condi ti ont hatt her equi sit enot ari zedaf fi dav itsbef il edwi thi na per iodofoneweekaf tert hel ockdowni sov er.
Theappl i cat ioni sdi sposedofaccor dingl y.
C.
M.APPL.No.
10583/ 2020 Thepr esentappl i cat ionunderSect ion151oft heCodeof Ci vi lPr ocedur e,1908 has been f il ed on behal f of t he appl i cant /appel l antseeki ngexempt ionf rom obt aini ngphy sical si gnat ures of t he aut hor ised si gnat ory of t he appl i cant /appel l antandaf fi xi ngr equi sit ecompanyseal .
Hav ing hear d counsel appear ing on behal f of t he appl i cant /appel l antand i nvi ew of t he pr esentpr evai l ing LPA146/ 2020 Page3of7 si tuat ion,t he appl i cat ion i s al l owed wi th a di rect ion t othe appl i cant /appel l antt ofi l ethe dul yexecut ed accompany ing appealandal lot herpl eadi ngs/ document sal ongwi thcompany seal wit hinaper iodofoneweekaf tert hel ockdowni sov er.
Wi tht heabov edi rect ions, theappl i cat ioni sdi sposedof .
LPA146/ 2020, CM APPL.No.
10578/ 2020( Stay )
1. I ssuenot ice.
2. Mr .Ri shiAgr awal a,l ear nedcounselaccept snot iceon behal foft heI ndi abul l sHousi ngFi nanceLt d/r espondentNo.
1.3. Wi tht heconsentoft hel ear nedcounselappear ingon behal foft hepar ti es,t hepr esentappealal ongwi tht heot her connect edappeal sbei ngLPA 141/ 2020,LPA 142/ 2020and LPA143/ 2020hav ebeenhear dandar edi sposedofbywayof t hef oll owi ngor der .
4. Theappeal sincl udi ngt hepr esentone,al lassai lanor der dat ed 15.
04. 2020 passed i n W.
P.( C)2963/ 2020 t it led as I "ndi abul l sHousi ngFi nanceLt d.v s.Secur it iesandExchange Boar dofI ndi a",i nst it utedonbehal foft her espondentNo.
1her ein,wher eby t he l ear ned Si ngl e Judge had di rect ed as LPA146/ 2020 Page4of7 f oll ows:
"
11.Gi v enthepeculi arfactsofthi scaseandt hepresent l ockdown,ti llt henextdateofheari ng,t her eshallbeanad i nteri m order,int er ms of pr ay er (a) in CM APPL. No.10281/ 2020,t il lthenextdat eofhearing."
5. The subj ect pr ayer cl ause (
a) i n CM APPL.
No.
10281/ 2020f il edi nW.
P.( C)2963/ 2020i srepr oducedf or t hesakeoff eli ci ty, her einbel ow:
"(
a)Di r ecttheRespondentt onotif ymai nt enanceofst atus quodur i ngthet imet heRespondenti ssuest hecircularunder Secti on11Boft heSEBIAct ,1992tor est orethelev elpl aying fi eldamongstsi mi larlysituatedpersonsbypost poningt he Peti ti oner'sliabil ityunderCommer cialPaper/bondst i llthe ti met hePet i tioner'sr i ghtt orecovertheloansprov i dedbyi ts toit scust omer si sr estr ictedduri ngt hepandemi cCOVI D-19 i nter-
ali aduet ot heci rcularofRBIdat ed27.03.2020bear ing No.RBI/2019-20/186. "
6. We hav e hear dlear ned Seni orCounselappear ing on behal foft hepar ti esi nal ltheconnect edappeal s,i ncl udi ngMr .
SandeepSet hi,l ear nedSeni orCounselappear ingonbehal fof t he pr esent appel l ant ,ICI CILombar d Gener alI nsur ance CompanyLt d., atl engt h.
7. Mr .Har ishSal ve,l ear nedSeni orCounselappear ingon behal foft heI ndi abul l sHousi ngFi nanceLt d.,af teraddr essi ng somear gument sbef oreus,on i nst ruct ionsst atest hat ,the LPA146/ 2020 Page5of7 r espondentNo.
1doesnotwi sht opr osecut eanyf urt hert he W.
P.( C)2963/ 2020i nst it utedbyt hem,wher eint hei mpugned or derdat ed15.
04. 2020camet ober ender ed;andt hat ,thi s Cour tmaybepl easedt ogr antt hem l eav etowi thdr awt hesame, wi thl i ber tyt oinst it uteanappr opr iat epr oceedi ng,asmaybe adv ised, inaccor dancewi thl aw.
8. Leav eandl i ber tygr ant ed.
9. Mr .Har ishSal ve,l ear nedSeni orCounselappear ingon behal foft heI ndi abul l sHousi ngFi nanceLt d.,oni nst ruct ions, f urt herunder takest hat ,al ltheaf fect edpar ti es,i ncl udi ngt he appel l ant sint heseconnect edappeal s,wi l lbej oinedaspar ti es i nthepr oposedpr oceedi ngs, ifany ,asmaybef il ed.
10. Di rect edaccor dingl y.
11. The W.
P.( C)2963/ 2020 t it l I ed as "ndi abul l s Housi ng Fi nance Lt d.v s.Secur it ies and Exchange Boar d ofI ndi a", cur rent lypendi ngont heboar doft heconcer nedLd.Si ngl e Bench,i saccor dingl ydi smi ssedaswi thdr awnaspr ayedand di sposedof .
12. Thead-
int eri mimpugnedor derdat ed15.04.
2020,passed LPA146/ 2020 Page6of7 i nthesai dwr itpet it ioni sconsequent lysetasi deandquashed;
andt hepr esentappeali s,r esul tant ly,al l owedanddi sposedof al ongwi tht heot herconnect edappeal sbei ngLPA141/ 2020, LPA142/ 2020andLPA143/ 2020.
13. A copyoft his or derbe pr ovi ded t olear ned counsel appear ingonbehal foft hepar ti esel ect roni cal l y.Acopyoft his or derbeupl oadedont hewebsi teoft hisCour tfor thwi th.
SI DDHARTHMRIDUL (JUDGE) TALWANTSINGH ( JUDGE) MAY04, 2020 as LPA146/ 2020 Page7of7