(Uday Umesh Lalit and Indu Malhotra, JJ.)
Petition for Special Leave to Appeal (C) No. 22038/2017
Shakti Nath and Others _______________________________ Petitioner;
v.
Alpha Tiger Cyprus Investment No. 3 Ltd. and Others ___ Respondent(s).
Petition for Special Leave to Appeal (C) No. 22038/2017 and FAO No. 53/2017, Decided on December 16, 2019
The Order of the court was delivered by
Order
1. On the last occasion, an affidavit was filed indicating that an Expression of Interest was received from M/s. Good Living Infrastructure Private Limited, expressing its interest to acquire sub-lease of project land for a consideration of Rs. 99,44,55,000/-.
2. On the basis of that affidavit, notice was issued to NOIDA through its Chairman. Additionally, Mr. Ravindra Kumar, learned Advocate who normally appears for NOIDA was also directed to be served in the matter.
3. Mr. Ravindra Kumar, learned Advocate for NOIDA has appeared today. A copy of Affidavit dated 05.12.2019 filed by Mr. Shakti Nath on behalf of the present petitioners is served upon Mr. Ravindra Kumar, Advocate. He may seek instructions from NOIDA insofar as amounts which are indicated at page 8 of the affidavit (i.e. communication dated 20.11.2019 received from NOIDA) are concerned.
4. Mr. Ravindra Kumar may also seek instructions whether the amounts of interest on land rent and interest on installments, which may include component of panel interest, could be waived and if so, to what extent? Let an affidavit to that effect be filed on or before 06.01.2020.
5. Mr. Ashish Bhutani, CEO of M/s. Good Living Infrastructure Private Limited, is present in Court. He says that his company had given an offer and the Company stands by the offer which is indicated in para 3 of the affidavit. Let the Board’s Resolution to that effect along with an appropriate affidavit be filed on behalf of M/s. Good Living Infrastructure Private Limited on or before 06.01.2020.
6. Let a comprehensive affidavit be also filed on behalf of the petitioners enclosing therewith a copy of the original Lease in favour of M/s. Sarv Mangal Real Tech Pvt. Ltd. as well as copy of the sub-Lease in favour of respondent no. 3.
7. In case the transaction is to be approved, M/s. Good Living Infrastructure Private Limited* shall deposit a sum of Rs. 20 crores as an upfront instead of Rs. 10 crores which was indicated in the offer as given along with the affidavit dated 05.12.2019.
8. On 14-11-20191, this Court had directed that the amount lying in deposit with the Registry of this Court along with accrued interest shall be remitted to respondent no. 1 within two weeks. Learned Senior Counsel appearing for respondent no. 1 submits that despite the above direction, the money has still not been made over. The Registry to look into the matter and expedite the process.
9. All the affidavits shall be filed on or before 06.01.2020.
10. List the matter on 13.01.2020 at 10.30 a.m., as Part-Heard as First Item.
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1 Shakti Nath v. Alpha Tiger Cyprus Investment No. 3 Ltd., 2019 SCC OnLine SC 1791
