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HIGH COURT OF DELHI
CO.APPL. (SB) 54/2011
RESERVE BANK OF INDIA ..... Appellant
CO.APPL. (SB) 54/2011
RESERVE BANK OF INDIA ..... Appellant
VERSUS
Through: Mr. R.V. Sinha with Mr. A.S. Singh, Advocates
JVG LEASING LTD. ..... Respondent
Through: Mr. Rajiv Bahl, Advocate for OL
JVG LEASING LTD. ..... Respondent
Through: Mr. Rajiv Bahl, Advocate for OL
CORAM:
HON'BLE MR. JUSTICE MANMOHAN
03.10.2011 CA No. 2027/2011 Keeping in view the averments in the application, the delay in re- filing the present appeal is condoned. Accordingly, the application stands disposed of.
03.10.2011 CA No. 2027/2011 Keeping in view the averments in the application, the delay in re- filing the present appeal is condoned. Accordingly, the application stands disposed of.
CO.APPL. (SB) 54/2011
Present appeal has been filed challenging the order dated 19th May, 2011 passed by Ms. Justice (Retd.) Manju Goel, Chairperson of the
Committee appointed by this Court in CP No. 266/1998 for determination of claims of investors.
The Committee appointed by this Court has rejected the appellant's
2011:DHC:14320 claim on the grqund that the amoupt ~dvanced by the appellant was in the nature of shar~ application money. The Committee further held that the appellant was at liberty to seek its remedy as a shareholder of respondent- company in an appropriate forum but its claim could not be· entertained by the Committee.
Mr. Sinha, learned counsel for the appellant submits that in view of the fact that there has been no allocation of shares till date, the appellant is an investor whose claims should have been adjudicated upon by the
Committee.
Mr. Rajiv Bahl, learned counsel for Official Liquidator does not dispute the aforesaid submission.
Keeping in view the aforesaid, the appeal of the appellant is allowed and impugned order dated 19th May, 2011 is set aside. The Official
Liquidator through the Committee appointed by this Court is directed to determine the amount due and payable to the appellant in accordance with law.
OCTOBER 03,2011 NG \\ __)_ MANMOHAN,J 2011:DHC:14320
Present appeal has been filed challenging the order dated 19th May, 2011 passed by Ms. Justice (Retd.) Manju Goel, Chairperson of the
Committee appointed by this Court in CP No. 266/1998 for determination of claims of investors.
The Committee appointed by this Court has rejected the appellant's
2011:DHC:14320 claim on the grqund that the amoupt ~dvanced by the appellant was in the nature of shar~ application money. The Committee further held that the appellant was at liberty to seek its remedy as a shareholder of respondent- company in an appropriate forum but its claim could not be· entertained by the Committee.
Mr. Sinha, learned counsel for the appellant submits that in view of the fact that there has been no allocation of shares till date, the appellant is an investor whose claims should have been adjudicated upon by the
Committee.
Mr. Rajiv Bahl, learned counsel for Official Liquidator does not dispute the aforesaid submission.
Keeping in view the aforesaid, the appeal of the appellant is allowed and impugned order dated 19th May, 2011 is set aside. The Official
Liquidator through the Committee appointed by this Court is directed to determine the amount due and payable to the appellant in accordance with law.
OCTOBER 03,2011 NG \\ __)_ MANMOHAN,J 2011:DHC:14320
JUDGMENT