JUDGMENT

Mini Pushkarna, J. (Oral)

CM APPL. 16833/2024 & CM APPL. 16835/2024 (For Exemptions)

1. Exemptions allowed, subject to just exceptions.

2. Applications are disposed of.

W.P.(C) 4121/2024 & CM APPL. 16832/2024

W.P.(C) 4122/2024 & CM APPL. 16834/2024

3. The present petitions have been filed seeking directions against the Small Industries Development Bank of India (respondent-bank) to issue No Objection Certificates ("NOCs") to GRJ Distributors and Developers Private Limited ("the Company") for sale of units in projects Avalon Garden, Avalon Plaza and Avalon Galleria, which are mortgaged in favour of the respondent-bank, so that the proceeds thereof, can be deposited with the respondent-bank for repaying the loan availed by the Company from the respondent-bank. The petitioners are the guarantors of the said loan availed by the Company.

4. Further, the petitioners also seek quashing of proceedings pending in National Company Law Tribunal ("NCLT") in C.P. (IB) No. 71/ND/2024, including the quashing of the order dated 13th February, 2024 passed by NCLT in C.P. (IB) No. 71/ND/2024.

5. The facts on the basis of the pleadings on record, are that the Company availed loan of Rupees Five Crore