Delhi High Court
Punj Lloyd Ltd. & Anr. vs Union Of India & Anr. on 19 September, 2018
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Date of Decision: 19th September, 2018
+ W.P.(C) 8825/2018, CM No. 33941/2018
PUNJ LLOYD LTD. & ANR.
..... Petitioners
Through: Dr. Abhishek Manu Singhvi,
Mr. Rajiv Nayar & Mr. Sajan
Poovayya, Sr. Advs. with Mr. Rishi
Agrawala, Mr. Karan Luthra & Ms.
Niyati Kohli, Advs.
versus
UNION OF INDIA & ANR.
..... Respondents
Through: Mr. Kirtiman Singh, CGSC with Ms.
Shruti Dutt, Mr. Waize Ali Noor &
Mr. Prateek Dhandha Advs, for R-
1/UOI
Mr. Sandeep Sethi, Sr. Adv. with
Mr. Vivek Shetty, Ms. Liz
Mathew & Mr. M.F. Philip,
Advs. for R-2/RBI
CORAM:
HON'BLE THE CHIEF JUSTICE
HON'BLE MR. JUSTICE V. KAMESWAR RAO
V. KAMESWAR RAO, J (ORAL)
1. This matter was heard by us and reserved for Judgment on
September 10, 2018. Mr. Rajiv Nayar, learned Senior Counsel for the
petitioner had mentioned the matter before us on September 11, 2018,
stating that the Supreme Court has heard petitions and directed status quo
to be maintained. He stated that the counsel is in the process of
procuring the copy of the order. The copy of the order was handed over
to the Court Master in the evening of September 12, 2018. Mr. Nayar
again mentioned the matter at 10.30 am on September 13, 2018 in the
presence of the counsel for RBI (respondent) and filed a written note. In
the note, a reference has been made to the petitions filed in various High
Courts / Transfer Petitions filed by the RBI / Writ Petition (C) No.
1086/2018 filed by Ideal Energy Projects Ltd wherein the Supreme Court
by adjourning the Transfer Petitions and Writ Petition to November 14,
2018, had directed status quo as of that date shall be maintained.
2. In paras 8 and 9 of the note, it is stated as under:-
"8. The petitioners submit that the challenge to the Circular
dated 12.02.2018 is pending before the Hon'ble Supreme
Court and the Hon'ble Supreme Court has been pleased to
granted interim relief to all the parties, whose petitions
were a subject matter of the Transfer Petition.
9. Accordingly, the petitioners humbly and most
respectfully pray that this Hon'ble Court may be pleased to
grant an Order of Status Quo as on date pending
adjudication of the validity of the Circular dated
12.02.2018 issued by the RBI by the Hon'ble Supreme
Court on the basis of parity in terms of the Order dated
11.09.2018 of the Hon'ble Supreme Court."
3. The Counsel for the RBI stated that the Supreme Court has not
transferred this petition.
4. Having given our thoughtful consideration to the stand of the
parties and perused the order dated September 11, 2018 passed by the
Supreme Court in Transfer Petition (C) Nos. 1399-1404/2018 and Writ
Petition (C) No. 1086/2018, it is clear that the Supreme Court is seized of
the issue relating to circular dated February 12, 2018 (which is also under
challenge in this petition) and adjourned the matters to 14th November,
2018 for final disposal. We are of the view, the decision in this writ
petition must await the outcome of the proceedings before the Supreme
Court. We accordingly adjourn the proceedings to a date beyond 14th
November, 2018 i.e November 19, 2018. Till that date, status quo as of
today shall be maintained.
V. KAMESWAR RAO, J
CHIEF JUSTICE
SEPTEMBER 19, 2018/ak
