$~11 & 12 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CONT.CAS(C) 1610/2025 IFCI VENTURE CAPITAL FUNDS LTD. .....Petitioner Through: Adv. Nitin dahiya and Adv Muzammil versus MALIKARJUN BASWANTRAO PATIL & ORS. .....Respondents Through: Mr. Manish Vashisht, Sr. Adv. Mr. Siddharth Panda with Mr. Anil Pandey, Advs. for LAC 12 + W.P.(C) 12086/2025, CM APPL. 49363/2025, CM APPL. 44850/2026, CM APPL. 44851/2026, CM APPL. 44852/2026, CM APPL. 45182/2026 M S PATIL CONSTRUCTIONS INFRASTRUCTURE LTD .....Petitioner Through: Mr. Manish Vashisht, Sr. Adv. versus IFCI VENTURE CAPITAL FUNDS LTD. .....Respondent Through: Adv. Nitin dahiya and Adv Muzammil for IFCI Venture capital Mr. Samar Bansal Sr. Adv. with Mr. Rajat Malu Mr. Pushkar Karni Sinha, Mr. Vedant This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/07/2026 at 11:14:47 Kapur , Ms. Anshika Saxena Mr. Kushal Kumar Chauhan Advs. Applicants in CM APPL. 44850/2026 CORAM: HON'BLE MR. JUSTICE JASMEET SINGH O R D E R % 23.07.2026 W.P.(C) 12086/2025 1. This is a writ petition filed under Article 226 of the Constitution of India seeking the following prayer:- “(i) Issue a writ of mandamus or any other appropriate writ for restraining the Respondent from proceeding with the auction scheduled on 13.08.2025 pursuant to the Sale Notice dated 23.05.2025 for the properties at Padegaon and Divashi, Aurangabad...” 2. When the matter came up for the hearing on 12.08.2025, this court ordered as under:- “W.P.(C) 12086/2025 3. The present petition has been filed seeking following relief: “(i) Issue a writ of mandamus or any other appropriate writ for restraining the Respondent from proceeding with the auction scheduled on 13.08.2025 pursuant to the Sale Notice dated 23.05.2025 for the properties at Padegaon and Divashi, Aurangabad.” 4. Mr. Nitin Dahiya, learned counsel for the respondent This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/07/2026 at 11:14:47 submits that he has instructions to state that in-principle, the respondent is agreeable for settling the account of the petitioner, in case OTS settlement amount of Rs. 15 crores is paid by the petitioner, but the same shall be subject to the formal approval of the competent authority. 5. Mr. Manish Vashisht, learned Senior Counsel for the petitioner submits that the petitioner is agreeable to pay the OTS settlement amount of Rs. 15 crores. He has handed over a cheque bearing no. 221391 dated 18.08.2025 for an amount of Rs. 9.92 crores, drawn in favour of the respondent no.1, to Mr. Nitin Dahiya, who acknowledges the receipt thereof. 6. Mr. Vashisht further submits that the cheque handed over to Mr. Dahiya is good for payment and shall be honoured on presentation. The statement is taken on record. In the event, cheque is not cleared on presentation, the respondent shall not be bound by the in-principle OTS arrangement agreed by the respondent no.1. 7. The balance amount of Rs. 4.08 crores shall be payable by the petitioner to the respondent on or before 15.09.2025. 8. In so far as the payment of Rs. 1 crore as pointed out by Mr. Vashisht, and which finds mention in order dated 03.02.2023 as well as in order dated 18.04.2023, passed by the learned DRT, Aurangabad, is concerned, Mr. Dahiya submits that he will have it verified from the respondent no.1, as to whether the same is adjustable against OTS payment of Rs. 15 crores. 9. Let petitioner also make formal proposal in terms of the This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/07/2026 at 11:14:47 arrangement recorded hereinabove, further detailing the amount actually paid by the petitioner and the balance amount payable. 10. List for compliance on 23.09.2025.” 3. Admittedly, the cheques were handed over by the petitioner on the said date, pursuant to which the properties which were to be auctioned were kept in abeyance, were returned dishonored on account of insufficient funds. 4. In this view of the matter, the petitioner having misled the Court and having given cheques, which were not good for encashment on the date they were tendered for payment is subsequently is not entitled to any relief. 5. For the said reasons, the petition is dismissed. CONT.CAS(C) 1610/2025 6. This is the petition filed under Section 11 and 12 of the Contempt of Courts Act, 1971 read with Article 215 of the Constitution of India seeking initiation of contempt proceedings for violation of the Order dated 12.08.2025. 7. On 12.08.2025, cheques were handed over by the learned counsel for the respondents and it was further, on oath, assured that the said cheques were good for payment. Since the cheques were dishonored the petitioner, herein, has filed the contempt petition. 8. It is an admitted case that the petitioner has auctioned one property and is in the process of auctioning the other property. 9. Mr. Dahiya, learned counsel for the petitioner, draws my attention to Annexure P-3, where the petitioner had already got approval for the This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/07/2026 at 11:14:47 One Time Settlement in terms of the order dated 12.08.2025. 10. Mr. Vashisht, learned senior counsel for the respondents, has tendered unconditional and unqualified apology on behalf of his clients. The apology is taken on record and the respondents are cautioned for such similar conduct. 11. Additionally, the petitioner shall be at liberty to file a suit for damages to recover any loss, which may have occurred due to mis- representation of the respondents. 12. With these directions, the petition is disposed with all the pending applications. JASMEET SINGH, J JULY 23, 2026/jk This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 28/07/2026 at 11:14:47