2019 (3) TMI 1918 - HC - Indian Laws

Tripartite agreements inter alia with banks and consumers - HELD THAT - Notice of the petition and the accompanying application be issued to the respondents on taking of steps by the petitioner through all permissible modes, process returnable for 2nd April, 2019 till which date, no coercive action be taken in terms of the order dated 11.03.2019 against the petitioner herein.

Summary

Issues Involved:
1. Exemption application in CM APPL. 13978/2019.
2. Initial submissions and stay application in CM(M) 494/2019 & CM APPL. 13977/2019.

Analysis:

1. Exemption Application (CM APPL. 13978/2019):
The Hon'ble Ms. Justice Anu Malhotra allowed the exemption subject to exceptions in this application. The order was brief, stating that the application is disposed of, without delving into specific details of the exemption granted.

2. Initial Submissions and Stay Application (CM(M) 494/2019 & CM APPL. 13977/2019):
The petitioner's counsel, Ms. Kanika Agnihotri, Mr. Preet Singh Oberoi, and Ms. Sukriti Gandhi, made initial submissions on behalf of the petitioner. The submissions included a reference to proceedings dated 19.11.2018 in CM(M) 1391/2018, highlighting similarities in facts and circumstances related to tripartite agreements with banks and consumers. It was noted that an ad interim stay had been granted on the operation of an order dated 23.10.2018 in Execution Application No. 82/2017 in CC/198/2015 before the NCDRC until the next hearing on 2nd April, 2019. The matter was mentioned to be pending before the Court. The Court directed the issuance of notice to the respondents upon the petitioner's compliance with necessary steps through all permissible modes. No coercive action was to be taken against the petitioner until 2nd April, 2019, as per the order dated 11.03.2019. Additionally, a copy of the order was to be provided Dasti under the Court Master's signatures.

This detailed analysis covers the exemption application and the initial submissions with the stay application, outlining the key points and directives issued by the Hon'ble Ms. Justice Anu Malhotra in the judgment.