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Date of Decision: 19th September, 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.
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
HON'BLE MR. JUSTICE V. KAMESWAR RAO V. KAMESWAR RAO, J (ORAL)
JUDGMENT
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 2018:DHC:6074-DB 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:-
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