BAIL APPLN./2307/2018 of MANDHIR SINGH TODD Vs STATE ( EOW DELHI) GOVT OF NCT DELHI

$~66, 67 & 69

IN THE HIGH COURT OF DELHI AT NEW DELHI+ BAIL APPLN. 2307/2018 with CRL.M.As. 35602/2018, 35603/2018 47220/2018, 48929/2018, 50442/2018, 1370/2019, 5016/2019, 5027/2019 47220/2018, 48929/2018, 50442/2018, 1370/2019, 5016/2019, 5027/2019

MANDHIR SINGH TODD ..... Petitioner Through: Mr.Sandeep Sethi, Sr. Adv. with Mr.Neeraj, Mr.Harshvardan, Mr.Ashutosh Kumar Pandey, Mr.Harshit Gulati, Mr.Neeraj Kumar & Mr.Prashant Chandra, Advs.

versus

STATE ( EOW DELHI) GOVT OF NCT DELHI ..... Respondent Through: Mr. Hirein Sharma, APP for State Ms. Aekta Vats, Adv. for the complainant (DMI Finance Pvt. Ltd.) Mr. Kanwarpreet Singh and Ms. Nikita Agarwal, Advs. for Orix Auto Infrastructure. Mr.Arshdeep Singh, Adv. with Mr.Aditya Chopra, Adv. for Volkswagen Finance Pvt. Ltd. Mr.Harshad V. Hameed, Adv. with Mr.Dileep Poolakkot, Adv. for Federal Bank.

+ BAIL APPLN. 2316/2018 with CRL.M.As. 35595/2018, 47223/2018, 48928/2018, 50454/2018, 5017/2019, 5028/2019, 5029/2019 48928/2018, 50454/2018, 5017/2019, 5028/2019, 5029/2019

RASH PAL SINGH TODD ..... Petitioner Through: Mr.Sandeep Sethi, Sr. Adv. with Mr.Neeraj, Mr.Harshvardan, Mr.Ashutosh Kumar Pandey, Mr.Harshit Gulati, Mr.Neeraj Kumar & Mr.Prashant Chandra, Advs.

versus

STATE ( EOW DELHI GOVT OF NCT DELHI) ..... Respondent Through: Mr. Hirein Sharma, APP for State Ms. Aekta Vats, Adv. for the complainant (DMI Finance Pvt. Ltd.) Mr. Kanwarpreet Singh and Ms. Nikita Agarwal, Advs. for Orix Auto Infrastructure. Mr.Arshdeep Singh, Adv. with Mr.Aditya Chopra, Adv. for Volkswagen Finance Pvt. Ltd. Mr.Harshad V. Hameed, Adv. with Mr.Dileep Poolakkot, Adv. for Federal Bank. + BAIL APPLN. 2621/2018 with CRL.M.(BAIL) 1721/2018, CRL.M.As. 35590/2018, 1406/2019

RASHPAL SINGH TODD & ANR. ..... Petitioners Through: Mr.Sandeep Sethi, Sr. Adv. with Mr.Neeraj, Mr.Harshvardan, Mr.Ashutosh Kumar Pandey, Mr.Harshit Gulati, Mr.Neeraj Kumar & Mr.Prashant Chandra, Advs.

versus

STATE NCT OF DELHI ..... Respondent Through: Mr. Hirein Sharma, APP for State Ms. Aekta Vats, Adv. for the complainant (DMI Finance Pvt. Ltd.) Mr. Kanwarpreet Singh and Ms. Nikita Agarwal, Advs. for Orix Auto Infrastructure. Mr.Arshdeep Singh, Adv. with Mr.Aditya Chopra, Adv. for

Volkswagen Finance Pvt. Ltd. Mr.Harshad V. Hameed, Adv. with Mr.Dileep Poolakkot, Adv. for Federal Bank.

CORAM:

HON'BLE MR. JUSTICE SURESH KUMAR KAIT

O R R14.11.2019

The petitioners are on interim bail pursuant to detailed order dated 12.12.2018 passed by this court.

On perusal of the said order, it is observed that this court gave time to the parties to reach on an amicable settlement. It is not in dispute that the petitioners have already paid outstanding dues to 11 companies and in mediation, settled with 9 other companies. It is also not in dispute that pursuant to the consent order dated 29.04.2019 passed by the High Court of Punjab & Haryana at Chandigarh, the petitioners with regard to their outstanding dues towards HDFC bank, have offered to sell two properties situated in Gurgaon and have pledged third residential property which is also situated in Gurgaon.

Regarding their outstanding dues with J&K Bank, the petitioners have offered them three properties, out of which two plots of 292.64 sq. meters each are situated at Hyde Park Estate, New Chandigarh and the third property is Bahrampur Auto Workshop which is situated in Gurgaon.

Till date, the unsettled parties are DMI, Federal Bank and Volkswagen Finance Pvt. Ltd.

It is not in dispute that there are two arbitration awards in favour of

Volkswagen Finance Pvt. Ltd. against the companies owned by the petitioners. Thus, they are at liberty to execute the same.

It is also not in dispute that pursuant to the order dated 12.12.2018, the

petitioners have deposited ₹8 crores with Registrar General of this Court.

So far as DMI Finance Pvt. Ltd. is concerned, the actual outstanding dues are ₹6.3 crores and outstanding dues towards Federal Bank are ₹26 crores as on date of the registration of the FIR.

Regarding their outstanding dues with ORIX Auto Infrastructure Services Ltd., the matter has already been settled before Mediation Centre of this court and the petitioners have agreed to pay an amount of ₹3 crores 40 lakhs in six instalments but the petitioners have failed to pay instalments of August and September, 2019.

The next instalment is due on 31.12.2019. Accordingly, I hereby direct Registrar General of this Court to release the amount of ₹80 lakhs in favour of ORIX Auto Infrastructure Services Ltd. on taking steps by the said company which will satisfy the instalments for the month of August and September, 2019.

An amount of ₹4 crores shall be disbursed in favour of the Federal Bank and ₹1 crore in favour of Volkswagen Finance Pvt. Ltd.and ₹2 crores 20 lakhs in favour of DMI Finance Pvt. Ltd.

The petitioners who are present in Court today state that the next instalment towards ORIX Auto Infrastructure of ₹65 lakhs is due to be paid on or before 31.12.2019. The petitioners seek an extension of two months time to pay amount of ₹65 lakhs. Their request is accepted. Let the instalment of ₹65 lakhs be paid on or before 30.03.2020 with interest @ 7% p.a. from 31.12.2019 till the payment is made.

Registrar is further directed that the balance amount shall be released proportionately in favour of Tata Capital-ZLPL, Yes Bank, Equitas, India Bulls, IIFL, Aditya Birla, United Petro Finance Limited & HCL Infosystem Ltd.

It is made clear that as per the settlement already arrived at between the parties, the petitioners shall pay all instalments in time bound manner.

Keeping in view the settlement arrived at between the parties and the substantial amount paid by the petitioners, to rest of parties, the Trial Court is directed to admit the petitioners on bail on their furnishing personal bond of ₹1 lakh each with two sureties of the like amount to its satisfaction.

This Court expects from the petitioners that they shall make endeavour to pay undisputed balance amount in favour of the remaining parties.

It is made clear that the order passed by this court shall not prejudice to the rights and contentions of the parties in the other FIRs.

IO of the case is directed not to take coercive steps against the petitioners in the FIRs registered on the complaint of the parties mentioned above to whom payments have been directed to be paid.

I further make it clear that no coercive steps shall be taken by the IO in the cases which are mentioned in the chargesheets already filed.

IO of the case is further directed to get five accounts defreezed from the HDFC Bank, Sector-53, Gurgaon which are as under:

i.5728300000092

ii.10022320000026

iii.50200002372502

iv.50200011948085

v.5728640000194

The Manager, HDFC Bank, Gurgaon is directed to defreeze abovementioned accounts on taking steps by the IO within two days.

It is further made it clear that the petitioners are at liberty to use the amount lying in the aforesaid accounts.

The petitioners shall make themselves available for investigation as and when called by the IO.

In view of above, the petitions and all pending applications stand disposed of.

Order dasti under signatures of the Court Master.

NOVEMBER 14, 2019 ab

SURESH KUMAR KAIT, J