NCLAT: Can’t Dismiss Restoration App. if Filed in 30 Days from Date of Dismissal of Original App.  ||  Delhi HC: Communication between Parties through Whatsapp Constitute Valid Agreement  ||  Delhi HC Seeks Response from Govt. Over Penalties on Petrol Pumps Supplying Fuel to Old Vehicles  ||  Centre Notifies "Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025"  ||  Del. HC: Can’t Reject TM Owner’s Claim Merely because Defendant Could have Sought Removal of Mark  ||  Bombay HC: Cannot Treat Sole Director of OPC, Parallelly with Separate Legal Entity  ||  Delhi HC: Can Apply 'Family of Marks' Concept to Injunct Specific Marks  ||  HP HC: Can’t Set Aside Ex-Parte Decree for Mere Irregularity  ||  Cal. HC: Order by HC Bench Not Conferred With Determination by Roster is Void  ||  Calcutta HC: Purchase Order Including Arbitration Agreement to Prevail Over Tax Invoice Lacking it    

IREO Private Limited Ors vs. Vibhor Home Developers Pvt. Ltd. Ors - (High Court of Delhi) (29 Jul 2022)

Court has jurisdiction to extend the time that was initially fixed by it for doing an act

MANU/DE/2686/2022

Civil

Present application moved on behalf of the Petitioners under Section 151 of Code of Civil Procedure, 1908 (CPC) seeking prayer for enlarging time for deposit of amount of Rs.43.50 crores as directed by this Court vide order.

By way of the present application, the Petitioners have submitted that they require some time to arrange the liquidated funds. It is the case of the Petitioners that, Petitioners are real estate companies enjoying impeccable reputation in the real estate market since 2004 and they have sound financial condition. However, on account of unforeseen situations, viz. COVID - 19 pandemic and other related factors, which have been beyond the control of the Petitioners, an immediate amount of sum of Rs.43.50 crores in liquidated form is not readily available. Thus, it is submitted before this Court that, the Petitioners need some time to arrange the liquidated amount.

Present Court has the authority to extend time for an act for which certain time period had been granted. The court in exercise of its jurisdiction can grant time to do a thing. However, the court has an inherent power within its ambit and jurisdiction to extend the time that was initially fixed by it for doing an act.

In view of the facts and circumstances of the present case and the fact that the order has been passed as an interim measure pending the arbitration proceedings for preservation of the property in question, it is considered appropriate by this Court to extend the time period for grant of deposit of amounts as directed by this Court. While coming to such conclusion, this Court is also guided by the fact that, the Petitioners have shown their genuineness and willingness to comply with the directions passed by this Court for depositing the amount of Rs.43.50 crores, by seeking permission to deposit by way of security, original title deeds of immovable property belonging to one of their companies, having value of more than Rs.50 crores.

Present Court extends the time period earlier granted to the Petitioners and hereby grants a further period of 45 days to the petitioners to deposit the amount of Rs.43,50 crores. Application disposed off.

Tags : DEPOSIT   TIME   EXTENSION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved