- Court
- Supreme Court of India
- Decided
- 12 March 2019
- Bench
- Abhay Manohar Sapre, Indu Malhotra
- Result
- M.A. disposed of.
Headnote
Constitution of India:
Art. 136 r/w Art. 142 – Power under – Exercise of – On facts, settlement agreements between the parties – Payment of Rs 600 crores by the respondent towards interest@ 8% p.a. by the stipulated period, to the appellant – Held: All liabilities arising under the settlement agreement stands satisfied – Thus, in exercise of power u/Art. 136/ 142, the proceedings-FIRs, ECIR by the Enforcement Directorate, show cause notices and complaints, arisen from the Agreements quashed.
Headnote as published in the Digital Supreme Court Reports by the Supreme Court of India. Paragraph references point to the judgment below.
Judgment
O R D E R
¶1Pursuant to the Order dated December 6, 2018 passed by this
Court, we are informed by Senior Counsel Mr. D. A. Dave representing the State Trading Corporation of India, and Mr. Kapil Sibal, Senior Advocate for the Respondents, that the amount of Rs. 600 crores payable by the Respondents towards Interest @ 8% p.a. by 28th February, 2019 has been paid. As a consequence, all the liabilities under the Settlement Agreement dated 15.11.2010, and Further Settlement Agreement dated 17.05.2012, stand fully satisfied. It is stated on behalf of S.T.C. that there is no further claim of the Appellants against the Respondents, arising out of the aforesaid Agreements.
¶2As a consequence, in exercise of our powers under Article
136 r.w. Article 142 of the Constituion of India, we hereby quash the following proceedings which have arisen from the Agreements mentioned hereinabove :
i. F.I.R. lodged by C.B.I. on Complaint of State Trading
Corporation bearing R.C. No. - 217/2017/A0005/CBI/ ACU-VI/AC-II/New Delhi.
ii. E.C.I.R. by Enforcement Directorate on the basis of the
F.I.R. lodged by C.B.I. bearing ECIR No. – ECIR/03 DZ-I/2017 dated 29.03.2017.
iii. Show Cause Notice dated 29.12.2017 issued by the High
Commission of India, Passport & Consular Wing, India House, London.
iv. Any Look Out Notice issued against Mr. Pramod Mittal
or his wife, or their children, by the Authorities and/or Agencies arising from the aforesaid Agreements. v. Eleven Complaints under S. 420 and 409 I.P.C. pending
before the Court of Shri Dharmendra Kumar, Ld. Metropolitan Magistrate, Patiala House Courts, New Delhi.
¶3It was further stated by Mr. D.A. Dave, Senior Advocate on
instructions of his clients, that since the amounts due and owing to S.T.C. under the Agreements mentioned hereinabove, stood satisfied, it would not prosecute the Winding-Up proceedings instituted by it against GSHIL – Respondent No. 1 in the Isle of Man Court. We take on record the said statement made by S.T.C.
M.A. No.320/2019, stand disposed of in the above terms with no Order as to Costs.
Case details
Arising from
CIVIL APPELLATE JURISDICTION : Miscellaneous Application No. 320 of 2019 IN Civil Appeal No. 11907 of 2018.
From the Judgment and Order dated 09.03.2015 of the High Court of Delhi at New Delhi in Execution Petition No. 337 of 2014.
Appearances
Dushyant Dave, Kapil Sibal, Sr. Advs., Uday Gupta, Ms. Shivani Lal, Tarkeshwar Nath, Hiren Dasan, Madhu Sudan Bhayana, M. K. Tripathi, Mrs. Sarla Chandra, Gautam Mitra, Pankaj Baghla, Gaurav Mitra, Rishad Medora, Avishkar Singhvi, Ms. Deepali Dwivedi, Samar Kachwaha, Nipun Katyal, Mohit D. Ram, Ms. Binu Tamta, Mrs. Anil Katiyar, Shiv Mangal Sharma, Ms. Anju Jain, Hitesh Sachar, Ms. Shruti Kiran, Advs. for the appearing parties.
The following Order of the Court was passed
Source: Supreme Court of India, Digital Supreme Court Reports, via the Indian Supreme Court Judgments open dataset (CC BY 4.0). Text was extracted from the official PDF and may contain conversion errors. Check the official PDF before relying on it.