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2024 Supreme(Online)(DEL) 32315

HIGH COURT OF DELHI
MR. JUSTICE SANJEEV NARULA, J
DAWESCO LLP – Appellant
Versus
UGRO CAPITAL LIMITED & ANR. – Respondent


Advocates:
NEIL DAWES BHUTANI

O R D E R

1. The Petitioner, a Limited Liability Partnership has approached this Court under Article 226 of the Constitution of India, 1950 , aggrieved by the actions of Respondent No. 1 - URGO Capital Limited, a private Non- Banking Financial Corporation 1 . Briefly, the facts of the present case as presented by the Petitioner are as follows:

2. The Petitioner availed loan facilities of a sum of INR 76,07,917/- from Respondent No. 1, under a loan agreement dated 31 st July, 2023. It is 1 “NBFC” contended that the material terms and conditions, including those governing moratorium or debt relief, were not disclosed in the loan agreement. The Petitioner further alleges that no paper copy of the facility documents was provided to them. Despite these grievances, the Petitioner undertook to fulfil its obligations under the agreement, assuming that moratorium or restructuring options would be available in accordance with MSME legal framework and fair market practices. However, it is alleged that the actual disbursed loan amount was only INR 22,14,750/-.

3. A significant factor in the Petitioner’s financial distress was the prolonged delay in obtaining trademark registration for its brand.

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