JUDGMENT

Manmohan, A.C.J. (Oral)

Cav. 68/2024

Since learned counsel for the caveator/respondent entered appearance, the caveat stands disposed of.

CM APPL. 8483/2024 (for exemption)

Allowed, subject to all just exceptions.

Accordingly, the present application stands disposed of.

LPA 117/2024

1. Present appeal has been filed under Clause X of the Letters Patent of the then High Court of Judicature at Lahore, which stands extended to the High Court of Delhi, challenging the judgment dated 20th December, 2023, whereby the learned Single Judge has quashed the Look Out Circular (`impugned LOC'), issued against the Respondent at the request of the Appellant Bank, and accordingly, allowed the W.P. (C) 2063/2023 filed by the Respondent.

2. The facts of the case are that the Respondent was the erstwhile Managing Director and founder of M/s Indosolar Ltd. (`Company'). The Appellant Bank, along with other banks, had extended credit facilities and loans to the said Company. The Respondent and his father stood themselves as the Personal Guarantors for the loan and credit facilities extended to the said Company. The loan account of the Company was classified as Non- Performing Asset (`NPA') on 01st July,