W.P.(C) 5807/2020 Page 1 of 16

$~112

*

IN THE HIGH COURT OF DELHI AT NEW DELHI

Date of Decision: 30^th August, 2022.

+

W.P.(C) 5807/2020 & CM APPLs. 21004/2020, 20708/2021

HONEY BUILDERS LIMITED

.....

Petitioner

Through:

Mr.

Neeraj

Malhotra,

Senior

Advocate with Mr. Vikas Sethi and

Mr. Nimish Kumar, Advocates.

versus

UNION BANK OF INDIA

.....

Respondent

Through:

Mr. Alok Kumar, Ms. Somya Yadava,

Mr. Manan Gambhir, Ms. Garima

Soni and Ms. Nandita Jha, Advocates.

CORAM:

HON'BLE MR. JUSTICE SANJEEV NARULA

JUDGMENT

SANJEEV NARULA, J. (Oral):

1. Petitioner has invoked Article 226 of the Constitution of India seeking

release of Fixed Deposit Receipts [“FDRs”] claiming that the lien/charge

created thereon stands discharged, and the bank is unlawfully withholding

the same.

2.

Mr. Neeraj Malhotra, Senior Counsel for the Petitioner-Honey

Builders Limited [“HBL”], has handed over a brief note of written

submissions across the board, which is taken on record.

3. Briefly, facts of the case are as follows:

3.1.For participating in a scheme for external