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2020 Supreme(Del) 647

MUKTA GUPTA
Vistra Itcl (india) Ltd – Appellant
Versus
Lalit Kumar Jain – Respondent


Advocates Appeared:
Amit Sibal, Advocate, Hardeep Sachdeva, Advocate, Priyamvada Shenoy, Advocate, Kamal Shankar, Advocate, Parag Maini, Advocate, Abhimanyu Chopra, Advocate, Kirat Randhawa, Advocate, Swati Singh, Advocate, Saksham Dhingra, Advocate, Ambar Bhushan, Advocate, Neeraj Kishan Kaul, Advocate, Raghvendra Bajaj, Advocate, Agnish Aditya, Advocate

JUDGMENT

Mukta Gupta, J. - The hearing has been conducted through Video Conferencing.

    2. By the present application filed by defendant Nos.1 and 3 in the representative capacity on behalf of defendant No.4, the following prayers are made:

      (a) grant a mandatory injunction and pass such necessary orders and directions against the Plaintiffs to enable Defendant No. 4 to undertake its business and affairs, including by raising finances to meet the deposit amount of Rs 4,00,00,000/- (Rupees Four Crores) in terms of the SC Order by creating an appropriate security in respect of such number of the Unsold Units in Towers C1 and C2 in Defendant No. 4''s Project and/or by creating a hypothecation on the future receivables of sold units in Towers C1 and C2 in Defendant No. 4''s Project as detailed in Paragraph 65 above without the requirement of any consent from the Plaintiffs in that regard ;

        (b) grant a mandatory injunction and pass such necessary orders and directions against Plaintiff No.2 to enable Defendant No. 4 to undertake its business and affairs including by raising finance for re-commencing and completing the development of the Project including Towers C1 and C2 by creating appropr

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