Court confirms non-deduction of commission from deposits and emphasizes compliance with procedural mandates in execution of decrees while outlining parties' responsibilities.

ORDER :

N.ANAND VENKATESH, J.

1.Application Nos.580 to 584 of 2026 have been filed seeking clarification of some of the directions issued by this Court while disposing of E.P.No.4 of 2025 by order dated 06.10.2025 and for certain directions to effectively work out the order passed in E.P.No.4 of 2025.

2. Application Nos.304 to 307 of 2026 have been filed by the Judgment Debtors seeking a direction to withdraw amounts and for other directions.

3. Heard Mr.H.Karthik Seshadri, learned counsel for judgment debtors and Mr.Satish Parasaran, learned Senior Counsel appearing for decree holder.

4. When this Court disposed of E.P.No.4 of 2025 by order dated 06.10.2025, the following directions were issued at paragraph No.42:

“42.In the light of the above discussion, the following directions are issued by this Court:

a) There shall be a direction to the petitioner to deposit a sum of Rs.204 Crores to the credit of E.P.No.4 of 2025, within a period of four weeks from the date of receipt of copy of this order.

b) There shall be direction to the respondents to provide all the details and documents as stated in Paragraph No.97 of the Award, as is required by the petitioner, within a period of two weeks from the date of receipt of copy of this order.

c) There shall be a direction to the petitioner to conduct due diligence in order to ensure that all the statutory mandates are complied with, which will not adversely impact the acquisition of the shares of GWL. This process shall be completed by the petitioner, within a period of four weeks from the date of receipt of all the details and documents from the respondents.

d) The entire process of providing the details and documents and conducting due diligence upon the same shall be completed and necessary steps shall be taken by the respondents to transfer the share holdings (share and debentures) held by them with GWL Properties Limited, within a period of eight weeks from the date of receipt of copy of this order.

e) On such transfer of shares, the respondents will be entitled to withdraw the amount deposited by the petitioner to the account of the E.P.No.4 of 2025 along with accrued interest.

f) If the respondents failed to comply with the conditions stipulated supra, the Directors/Principal Officers of the respondents Company mentioned in Schedule B annexed to the petition will be liable to be detained in the civil prison, and g) There shall be a direction to the respondents to pay a cost of Rs.2.50 Lakhs to the petitioner, within a period of eight weeks from the date of receipt of copy of this order.”

5. The applications filed by the decree holder came up for hearing and after hearing both sides, this Court directed the learned counsel for decree holder to submit a memo after discussions with the other side and specifically point out the clarification required from this Court for the issue in controversy and also those issues where the parties are ad idem and consequently, may not require any clarification.

6. Pursuant to the above order, a memo was filed by tabulating the issues and for proper appreciation, the same is extracted hereunder:

7. Insofar as the direction issued in paragraph No.42(a), the decree holder has deposited a sum of Rs.204 crores to the credit of E.P.No.4 of 2025. Hence, nothing remains to be clarified on this issue.

8. Insofar as the issue pointed out in Sl.No.2 is concerned, it was submitted that the decree holder will proceed further to survey the property and to fence the same considering