Pico Deepali Overlays Consortium vs Organizing Committee ...
2016 Latest Caselaw 1849 Del

s*    IN THE HIGH COURT OF DELHI AT NEW DELHI

                                      Judgment reserved on : 30th January, 2016
%                                      Judgment pronounced on: 8th March, 2016

+                   O.M.P. (ENF) (COMM.) No.3/2016

      PICO DEEPALI OVERLAYS CONSORTIUM           ..... Petitioner
                    Through Mr.Dharmendra Rautray, Adv. with
                            Ms.Tara Shahani and Mr.Ankit
                            Khushu, Advocates

                             versus

      ORGANIZING COMMITTEE COMMONWEALTH GAMES 2010
                                                ..... Respondent
                   Through Mr.Maninder Singh, Sr. Adv. with
                           Mr.Neeraj Sharma, Ms.Archana
                           Lakhotia, Mr.Karan Kanwal and
                           Ms.Shruti, Advs.


      CORAM:
      HON'BLE MR.JUSTICE MANMOHAN SINGH

MANMOHAN SINGH, J.

1. Decree Holder/ petitioner has filed the execution petition under Section 36 of the Arbitration & Conciliation Act read with Order XXI CPC seeking prayer against the judgment debtor to the following effect:

"a) Issue a direction to the Respondent/Judgment Debtor to deposit the decretal amount of Rs. 119,18,01,859 (which includes pendent lite interest @ 12% w.e.f 23.9.2011 till 3.12.2015) along with interest @ 18% from the date of the passing of the award dated 3.12.2015 in the Decree Holder's Bank Account.

b) Direct the Respondent to pay a sum of Rs. 3,20,74,324 towards costs incurred by the Petitioner for extending the PBGs up to 31.12.2015 along with interest @ 18% till the date of payment.

c) Direct the Respondent to return the original Bank Guarantees Nos. 099991OOPBG0000447 and 0999910PBG0000448 both dated 15.6.2010 to the Petitioner/ Decree Holder.

d) Direct the Respondent to pay a sum of Rs. 4,09,851 towards payment of Stamp Duty incurred by the Decree Holder along with interest @ 18% till the date of payment.

e) Failing which an order for attachment and sale may be passed against the moveable and immoveable properties including all furniture, Bank Accounts of the Judgment Debtor and the sale proceeds be given to the Decree Holder towards the satisfaction of the Decree as per Schedule annexed separately for satisfaction of decretal amount.

f) Costs of the present Execution Proceedings may be given in favour of the Decree Holder and against the Judgment Debtor."

2. In view of the judgment delivered by this Court in O.M.P. (Comm) 30/2015 whereby the objections of the petitioners have been dismissed. The judgment debtor is directed to deposit the decretal amount of Rs. 119,18,01,859 (which includes pendent lite interest @ 12% w.e.f 23rd September, 2011 till 3rd December,2015 along with interest @ 18% from the date of the passing of the award dated 3rd December, 2015 till date, in the Decree Holder's Bank Account within four weeks from today.

3. The judgment debtor is also directed to pay the entire amount to the decree holder for extending the PBG's upto date along with interest @ 18% per annum. The decree holder to file the details of amount incurred by them with an advance copy to the judgment-debtor who within four weeks thereafter will pay the said amount. They are also directed to pay a sum of

Rs.4,09,851/- towards stamp duty incurred by the decree holder along with interest @18% per annum within four weeks from today.

4. The present execution petition is disposed of. Liberty is granted to the decree holder to review the same if the said amount is not paid so that the appropriate orders for attachment be passed.

5. No cost.

(MANMOHAN SINGH) JUDGE March 08, 2016