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2025 Supreme(Online)(DEL) 304

HIGH COURT OF DELHI
MR. JUSTICE CHANDRA DHARI SINGH, MR. JUSTICE ANOOP KUMAR MENDIRATTA, JJ
JOHNSON KA – Appellant
Versus
EVAAN HOLDINGS PVT LTD & ORS. – Respondent


Mr. Harish Malhotra, Sr. Advocate and Mr. Ravi Gupta, Sr. Advocate with Mr. Manav Goyal, Mr. Zinnea Mehta, Ms. Ritika Gusain, Mr. Abhishek Jaiswal, Ms. Shriya Agarwal, Ms. Tanushvi Singh, Ms. Muskaan Mehra, Ms. Jahnvi Gupta and Mr. Shrey Sharma, Advocates; Mr. Rajiv Nayyar, Sr. Advocate with Ms. Devika Mohan, Ms. Manya Chandok, Mr. Prabhav Bhaguna and Mr. Saurabh Seth, Advocates for R-1; Mr. Ramesh Babu and Ms. Nisha Sharma, Advocates for R-2/RBI

Table of Content
1. company incorporated and allegations (Para 2 , 3 , 4 , 5)
2. investment and conversion of shares (Para 6 , 7)
3. nclt petition and findings (Para 8 , 9 , 10 , 11 , 12 , 13)
4. writ petition filed (Para 14 , 15 , 16 , 17 , 18 , 46 , 47 , 48 , 49)
5. appellant's submissions on maintainability (Para 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39 , 40 , 41 , 42 , 43 , 44 , 45)
6. respondent's opposition to appeal (Para 29)
7. court's review of rbi's actions (Para 50 , 51 , 52 , 53 , 54 , 55 , 56 , 57 , 58 , 59 , 60 , 61 , 62 , 63 , 64 , 65 , 66 , 67 , 68)
8. court's reasoning on maintainability (Para 69 , 70 , 71 , 72 , 73 , 74 , 75)
9. dismissal of the appeal (Para 76 , 77 , 78)

JUDGMENT :

1. The instant appeal under Clause X of the Letters Patent has been filed on behalf of the appellants seeking the following reliefs: “a) Allow the present Appeal and set aside the Impugned Judgement dated 23.10.2024 passed by the Learned Single Judge in Writ Petition bearing W.P. (C) No. 9877 of 2024 titled as Evaan Holdings Pvt. Ltd. v. Reserve Bank of India & Ors. and dismiss the said Writ Petition for being non- maintainable and mala-fid

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