Lc Nueva Aif v. Zyngo Ev Mobility Private Limited through Its Director Mr Prateek Yadav & Ors.
Case brief
What is this about?
LC NUEVA AIF v. Zyngo EV Mobility Private Limited (through its director Prateek Yadav) & Ors., High Court of Delhi, CONT.CAS(C) 197/2024, decided 22.07.2026 by Justice Mini Pushkarna. Petition (along with CM APPLs. 21958/2026 and 46103/2026) disposed of after joint application brought on record Settlement Agreement dated 29.05.2026 for total settlement of Rs. 2,20,00,000/-; Rs. 1,90,00,000/- already paid; balance Rs. 30,00,000/- held as HDFC Bank FDR in the name of Registrar General (deposited pursuant to order dated 13.05.2025) not accepted by the Registry; FDR permitted to be liquidated with accrued interest and Rs. 30,00,000/- (Rupees Thirty Lacs Only) directed to be transferred to petitioner within two weeks. Keywords: contempt case petition, settlement agreement, FDR liquidation, Registrar General, HDFC Bank fixed deposit, disposal on settlement.
What did the court decide?
Respondent nos. 2 and 3 permitted to liquidate the HDFC Bank FDR of Rs. 30,00,000/- in the name of the Registrar General, with accrued interest, and directed to immediately transfer Rs. 30,00,000/- (Rupees Thirty Lacs Only) to the petitioner in terms of the Settlement Agreement dated 29th May, 2026, completing the process within an outer limit of two weeks; with these directions the petition, along with pending applications, stands disposed of.