Paramount Limited v. GAIL (India) Limited

Delhi High Court · 03 Sep 2015 · 2015:DHC:11900
J. R. Midha
EX.P.49/2011 & EA(OS) 109/2011
2015:DHC:11900
civil other

AI Summary

The Delhi High Court allowed withdrawal of execution petitions with liberty to refile, deferring claims related to bank guarantee margin money and further interest pending appeal outcome.

Full Text
Translation output
$30 HIGH COURT OF DELHI
EX.P.49/2011 &EA(OS) 109/2011
PARAMOUNT LIMITED Decree Holder
Through: Mr. Mohit D. Ram and Ms. Monisha Handa, Advocates
VERSUS
GAIL(INDIA) LIMITED Judgement Debtor O
Through: Mr. Ajit Pudussery and Ms. Shruti Sarma Hazarika, Advocates
EX.P. 50/2011 & EA (OS) 110/2011
PARAMOUNT LIMITED Decree Holder
Through: Mr. Mohit D. Ram and Ms. Monisha Handa, Advocates
VERSUS
GAIL(INDIA) LIMITED Judgement Debtor
Through: Mr. Ajit Pudussery and Ms. Shruti Sarma Hazarika, Advocates
CORAM:
HON'BLE MR. JUSTICE J.R. MIDHA
03.09.2015
ORDER

1. Learned counsel for the judgment debtor submits that the judgment debtor has deposited the decretal amount with this Court under the orders passed by the Division Bench in FAO(OS) Nos.583/2010 and 586/2010 and the said amount has been released against bank guarantee to the decree holder.

2. Learned counsel for the decree holder admits the receipts of the 2015:DHC:11900 II decretal amount against the bank guarantees. Learned counsel for the decree holder submits that in the event of the judgment debtor's appeal being dismissed and the bank guarantee being returned to the decree holder, the decree holder would be entitled to the margin money spent by the decree holder in issuance and keeping the bank guarantee alive. It is further submitted that the decree holder would also be entitled to further interest.

3. Learned counsel for the decree holder seeks permission to withdraw these execution petitions with liberty to file a fresh execution petitions if the • occasion so arises.

4. Execution petitions as well as pending applications are dismissed as withdrawn with liberty as prayed for.

41. DHA, J. SEPTEMBER 03, 2015 rsk