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IN THE HIGH COURT OF DELHI AT NEW DELHI
MR. RAJESH GOYAL VS. CANARA BANK
$~28 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 6329/2017 M/S MEENA STEELS LIMITED .....Petitioner Through: Mr. Manish Srivastava, Mr. Moksh Arora and Mr. Santosh Ramdurg, Advocates.
versus PUNJAB NATIONAL BANK .....Respondent Through: Ms. Asmita Kumar and Mr. Mehul Prasad, Advocates.
CORAM:
HON'BLE MR. JUSTICE RAJNEESH KUMAR GUPTA
O R D E R
% 02.02.2026
1. This hearing has been conducted through hybrid mode.
CM APPL. 28908/2023 (for directions)
2. ThisisanapplicationfiledonbehalfofthepetitionerunderSection151 of the Code of Civil Procedure, 1908 seeking directions to the respondent- Bank to transfer a sum of Rs. 17,98,950/-, along with interest accrued thereupon, from the escrow account to the account of the petitioner, in
The court upheld interim distribution of funds to lenders while ensuring safeguards for stakeholders' interests.
Payment of due amount to depositors of Sahara Group of Cooperative Societies is to be made within nine months.
An arbitration clause can be incorporated by reference from a related agreement, and disputes must be resolved through arbitration as outlined in the share transfer and escrow agreements.
Accidental funds transfer to a beneficiary allows recovery if no contestation arises from the account holder.
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