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2003 DIGILAW 912 (SC)

Delhi Development Authority v. Skipper Construction

2003-08-04

D.M.DHARMADHIKARI, SHIVARAJ V.PATIL

body2003
ORDER : 1. Having heard the learned counsel for the Punjab National Bank and Canara Bank, Amicus Curiae, learned counsel for 22, Barakhamba Buyers Association and learned counsel representing Skipper Group of Companies and also having regard to the order passed on 21.3.2002 by this Court, we direct the Registry to release a sum of Rs. 11,00,00,000/- (Rupees eleven crores only) in favour of Punjab National Bank and a sum of Rs. 3,30,00,000/- (Rupees Three crores thirty lakhs only) to Canara Bank from out of the money deposited on account of sale of property bearing No. 3, Aurangzeb Road. The learned Senior counsel representing Punjab National Bank and Canara Bank submitted that the banks are entilted for reasonable amount of interest from 21.3.2002 on the amount of Rs. 11,00,00,000/- (Rupees Eleven crores only) and Rs. 3,30,00,000/- (Rupees Three crores thirty lakhs only). The question of payment of interest will be considered at a later stage. 2. List I.A. No. 95 on 22nd August, 2003. 3. The amount of rent ordered to be refunded to Israel Embassy may be given after the F.D.R. Matures on 19th November, 2003. 4. The amount of Rs. 20,000/- (Rupees twenty thousand only) was to be paid every month to Mr. Tejwant Singh from out of the rent amount otherwise being paid by Israel Embassy. Now that the property No.3, Aurangzeb Road, has been sold, the Israel Embassy is not paying the rent. In that situation we direct the Office to pay Rs. 20,000/- (Rupees twenty thousand only) every month to Mr. Tejwant Singh from the amount that is available in the Registry in this case. The F.D.Rs. for the amount of Rs. 30,00,000/- (Rupees thirty lakhs only) and Rs. 6,25,25,000/- (Rupees Six crores twenty five lakhs twenty five thousand only) which are maturing on 8th and 9th August, 2003, may be renewed for a period of 90 days after deducting the amount which is required to be paid towards publication charges in newspapers incurred on account of publication of sale notifications.