This order addresses a request for discharge of a bank guarantee during execution of a money decree involving the Unitech Group. The court held such requests belong in winding up proceedings, not execution, and noted the application was withdrawn.
Execution Petition withdrawn with no liberty to the petitioner.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
$~11.
O R D E R % 15.03.2019
EA No.112/2019 (for exemption).
EX.P. 21/2019 & EA No.111/2019 (u/O XXI R-41 CPC).
further stated that in a winding up petition filed by the decree holder against the judgment debtor, there is an order for deposit of a sum of Rs.10.71 crores in this Court and which has been deposited by the judgment debtor and the said amount has been released to the decree holder subject to furnishing security and which the decree holder has furnished and the decree holder in this Execution is seeking a order for discharge of the Bank Guarantee furnished by way of security.
with liberty to take appropriate steps.
RAJIV SAHAI ENDLAW, J
MARCH 15, 2019 „pp‟..
page 2 of 2
EX.P. 21/2019
1 issue framed by the court
Whether discharge of security in winding up proceedings can be sought in separate execution proceedings.
THE UNIWORLD GARDEN APARTMENT OWNERS ASSOCIATION
UNITECH REALTY PVT. LTD.
RAJIV SAHAI ENDLAW
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
