M/S Tuff Drilling Pvt. Ltd And Ors. vs Punjab National Bank And Ors
2018 Latest Caselaw 7032 Del

    * IN THE HIGH COURT OF DELHI AT NEW DELHI
      %                            Date of decision: 28th November, 2018

    + W.P.(C) 3436/2018
     M/S TUFF DRILLING PVT. LTD AND ORS.      ....Petitioners
                   Through:   Mr. Sanjeev Bhandari, Adv.

                 versus

    PUNJAB NATIONAL BANK AND ORS                          ....Respondents
                        Through:         Mr. Pallav Saxena, Adv. for R1

       CORAM:
       HON'BLE THE CHIEF JUSTICE
       HON'BLE MR. JUSTICE V. KAMESWAR RAO

      V. KAMESWAR RAO, J. (ORAL)

1. This writ petition has been filed by the petitioner challenging

the order dated 26th March, 2018 passed by DRAT whereby the

DRAT has directed as under:

"As noticed already, the public money involved in the matter stands recovered by the two banks and recovery of public money is the main objective behind the establishment of the DRTs. Keeping in mind this fact, I am of the view that ends of justice will be met in case the appellant's appeal itself is rejected for non- compliance of the direction of this Tribunal without going into the merits of the case. Further, the appellant Company is fined a sum of Rs.5 Lacs and three directors, namely, Vivek Yadav, Om Prakash Yadav and Mr. Vinay Yadav, are also individually directed to pay Rs.1 lac each to the Delhi Legal Services Authority (DLSA) within two weeks from today. In case of non- payment, the assets of the appellant Company will

become liable to be attached / sold that the three individual directors shall have to suffer civil detention for a period of one week. The proof of compliance of these directions shall be submitted by the Company and its three Directors in the Registry of this Tribunal within a week after the expiry of two weeks' period being given to them for making payments and thereafter the Registry shall place the matter again before this Tribunal for passing appropriate orders. In case no proof of deposits is submitted, the Registry shall even then also place the matter before the Bench for passing appropriate orders / directions to ensure that the aforesaid punishment awarded to the Company and its three directors is implemented.

2. Suffice it to state that basis for the DRAT to pass this order is

primarily because of non-compliance of order dated 9th May, 2017, which

we have set aside, to the extent, the DRAT has given direction for deposit of

`40 Crores.

3. In view of the fact that we have set aside the order dated 9th May,

2017 to that extent, we accordingly set aside the order dated March 26,

2018, the directions in which are set above. The Appeal is restored to its

original number. The fine paid by the Company and the three directors

deposited with the Delhi High Court Legal Services Authority is directed

to be refunded back to the company / directors.

The petition stands disposed of.

CM Nos. 35538/2018, 13588/2018 and 23627/2018

Dismissed as infructuous.

V. KAMESWAR RAO, J

CHIEF JUSTICE

NOVEMBER 28, 2018/aky