Co.App.No.54/2013 Page 1 of 129

$~

*IN THE HIGH COURT OF DELHI AT NEW DELHI

+

CO.APP. 54/2013 & CM No. 12904/2013

%

Date of decision : 28^th January, 2016

THE PRADESHIYA INDUSTRIAL & INVESTMENT

CORPORATION OF U.P. LTD.

..... Appellant

Through:

Mr. Joy Basu, Sr. Adv. with Mr.

Prashanto Sen, Ms. Ankita Saikia

and Mr. Abhinav, Advs.

versus

M/S PACQUIK INDUSTRIES LTD. & ORS. .. Respondents

Through:

Mr. Preetpal Singh, Adv. for R-1.

Ms. Pooja Saigal, Adv. for R-2&3.

CORAM:

HON'BLE MS. JUSTICE GITA MITTAL

HON'BLE MR. JUSTICE P.S.TEJI

JUDGMENT

GITA MITTAL, J.

Co.App.No.54/2013 Page 2 of 129

1.

Having acted totally contrary to the above mandate, the

Pradeshiya Industrial & Investment Corporation of U.P. Ltd.

('PICUP' hereafter) appellant herein assails the order dated 8^th July,

2013 whereby the learned Company Judge has directed return of

amounts deposited with the appellant by Mr. Darshan Khurana -

the respondent no.3, on behalf of the debtor - Pacquik Industries

Ltd. - respondent