W.P.(C) 3580/2020

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IN THE HIGH COURT OF DELHI AT NEW DELHI

Reserved on: 23^rd November, 2020

Date of decision: 18^th December, 2020

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W.P.(C) 3580/2020 & CM APPL. 12727-29/2020, 21106-07/2020

AMIT KHANEJA AND ORS.

..... Petitioners

Through:

Ms.

Meenakshi

Arora,

Senior

Advocate with Mr. Vivek Jain, Mr.

Nirvikar Singh Mr. Manish Shekari &

Mr. Zulfiquar Memon, Advocates

(M:9990252039).

versus

IL & FS FINANCIAL SERVICES LTD.

..... Respondent

Through:

Mr. Rajeeve Mehra, Senior Advocate

with Mr. Atul Sharma, Mr. Abu John

Mathew, Mr. Madhusudan, Mr. Baiju

Mathew, Advocates for R-1 with Ms.

Evneet Uppal, AR of Respondent

No.1 in person. (M:9819930653)

Mr.

Sudhir

K.

Makkar,

Senior

Advocate with Ms. Saumya Gupta,

Advocate for R-2. (M:9711959599)

CORAM:

JUSTICE PRATHIBA M. SINGH

JUDGMENT

Prathiba M. Singh, J.

1. This judgment has been pronounced through video conferencing.

2.

The present writ petition has been filed challenging the impugned

letter dated 26^th May, 2020 sent by Respondent No.1/IL&FS Financial

Services Ltd. (hereinafter ‘IL&FS’), by which it has revoked the in-principle

agreement for one-time settlement (hereinafter ‘