Supreme Court of India
STATE TRADING CORPORATION OF INDIA LTD versus M/S GLOBAL STEEL HOLDING LIMITED & ORS. on 12 March 2019
1040 SUPREME COURT REPORTS [2019] 2 S.C.R.[2019] 2 S.C.R. 1040
ASTATE TRADING CORPORATION OF INDIA LTD
v.
M/S GLOBAL STEEL HOLDING LIMITED & Ors.(M.A.No.320/2019 in C.A.No.11907/2018)
March 12, 2019
B[ABHAY MANOHAR SAPRE AND INDU MALHOTRA, JJ]
Constitution of India:
Art. 136 r/w Art. 142 – Power under – Exercise of – On facts,settlement agreements between the parties – Payment of Rs 600 croresby the respondent towards interest@ 8% p.a. by the stipulated period,Cto the appellant – Held: All liabilities arising under the settlementagreement stands satisfied – Thus, in exercise of power u/Art. 136/142, the proceedings-FIRs, ECIR by the Enforcement Directorate,show cause notices and complaints, arisen from the Agreementsquashed.
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CIVIL APPELLATE JURISDICTION : MiscellaneousApplication No. 320 of 2019
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Civil Appeal No. 11907 of 2018.
From the Judgment and Order dated 09.03.2015 of the HighECourt of Delhi at New Delhi in Execution Petition No. 337 of 2014.
Dushyant Dave, Kapil Sibal, Sr. Advs., Uday Gupta, Ms. ShivaniLal, Tarkeshwar Nath, Hiren Dasan, Madhu Sudan Bhayana, M. K.Tripathi, Mrs. Sarla Chandra, Gautam Mitra, Pankaj Baghla, GauravMitra, Rishad Medora, Avishkar Singhvi, Ms. Deepali Dwivedi, SamarFKachwaha, Nipun Katyal, Mohit D. Ram, Ms. Binu Tamta, Mrs. AnilKatiyar, Shiv Mangal Sharma, Ms. Anju Jain, Hitesh Sachar, Ms. ShrutiKiran, Advs. for the appearing parties.
The following Order of the Court was passed
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O R D E R
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1. Pursuant to the Order dated December 6, 2018 passed by thisCourt, we are informed by Senior Counsel Mr. D. A. Daverepresenting the State Trading Corporation of India, and Mr.Kapil Sibal, Senior Advocate for the Respondents, that theamount of Rs. 600 crores payable by the Respondents towardsHInterest @ 8% p.a. by 28[th] February, 2019 has been paid. As a1040
consequence, all the liabilities under the Settlement Agreementdated 15.11.2010, and Further Settlement Agreement dated17.05.2012, stand fully satisfied. It is stated on behalf of S.T.C.that there is no further claim of the Appellants against theRespondents, arising out of the aforesaid Agreements.
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2. As a consequence, in exercise of our powers under Article136 r.w. Article 142 of the Constituion of India, we herebyquash the following proceedings which have arisen from theAgreements mentioned hereinabove :
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i.F.I.R. lodged by C.B.I. on Complaint of State TradingCorporation bearing R.C. No. - 217/2017/A0005/CBI/ACU-VI/AC-II/New Delhi.
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ii.E.C.I.R. by Enforcement Directorate on the basis of theF.I.R. lodged by C.B.I. bearing ECIR No. – ECIR/03DZ-I/2017 dated 29.03.2017.
iii.Show Cause Notice dated 29.12.2017 issued by the HighDCommission of India, Passport & Consular Wing, IndiaHouse, London.
iv.Any Look Out Notice issued against Mr. Pramod Mittalor his wife, or their children, by the Authorities and/orAgencies arising from the aforesaid Agreements.
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v.Eleven Complaints under S. 420 and 409 I.P.C. pendingbefore the Court of Shri Dharmendra Kumar, Ld.Metropolitan Magistrate, Patiala House Courts, NewDelhi.
3. It was further stated by Mr. D.A. Dave, Senior Advocate oninstructions of his clients, that since the amounts due and owingto S.T.C. under the Agreements mentioned hereinabove, stoodsatisfied, it would not prosecute the Winding-Up proceedingsinstituted by it against GSHIL – Respondent No. 1 in the Isleof Man Court. We take on record the said statement made byS.T.C.
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M.A. No.320/2019, stand disposed of in the above termswith no Order as to Costs.
Nidhi Jain
M.A. disposed of.
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