W.P.(C)/4985/2025 of MANISH KAUSHIK & ANR. Vs PIRAMAL CAPITAL AN HOUSING FINANCE LIMITED

* IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 4985/2025

MANISH KAUSHIK & ANR.

.....Petitioners

Through: Mr. Sanjay Kaushik , Mr. Himanshu Kaushik, Ms. Riddhi Sharma, Ms. Isha Bansal, Advocates

versus

PIRAMAL CAPITAL AN HOUSING FINANCE LIMITED

.....Respondent

Through: Mr. Rishabh Malik, Ms. Mehak Sharma, Advocate(s)

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASADHON’BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

O R R% 21.04.2025

CM APPL. 22866/2025 (Exemption)

Allowed, subject to all just exceptions.

W.P.(C) 4985/2025 & CM APPL. 22865/2025

1.The present Writ Petition has been filed by the Petitioner against the Order dated 08.04.2025, passed by the Debts Recovery Appellate Tribunal (DRAT), Delhi, dismissing Misc. Appeal No.47/2025 by upholding the Order dated 12.03.2024, passed by the Debts Recovery Tribunal, Delhi (DRT).

2.Learned Counsel for the Petitioner states that the Petitioner is prepared to clear all the outstanding dues.

3.Learned Counsel for the Respondent states that as of today Rs.72,68,809/- is due and payable by the Petitioner.

4.It is stated by the learned Counsel for the Petitioner that out of the total outstanding amount of Rs.72,68,809/-, the Petitioner has already deposited Rs.17 lakhs with the Debts Recovery Tribunal.

5.Two cheques dated 21.04.2025 drawn on Union Bank of India for an amount of Rs.8,00,000/- each and one cheque dated 21.04.2025 drawn on Bank of Baroda for an amount of Rs.7,00,000/- have been handed-over to the learned Counsel for the Respondent today during the course of the hearing.

6.In view of the above, Rs.32,68,809/- is due and payable by the Petitioners as on today.

7.Learned Counsel for the Petitioner states that the Petitioners undertake that the balance amount will be paid by the Petitioners by 15.05.2025. He states that on the undertaking of the Petitioners, the Respondent be directed to de-seal the property of the Petitioners.

8.On the undertaking of the Petitioners to clear the dues by 15.05.2025, the Respondent is directed to de-seal the property in question. However, it is made clear that if the Petitioners fail to clear their dues by 15.05.2025, the same shall be construed as disobedience of the orders of the Court and proceedings under the Contempt of Court Act, 1971 will be initiated against the Petitioners and the Respondent will be at liberty to seal the property.

9.With these observations and directions, the Writ Petition is disposed of, along with the pending applications if any.

SUBRAMONIUM PRASAD, J

APRIL 21, 2025Rahul

HARISH VAIDYANATHANSHANKAR, J