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2025 DAILYLAW 7556 (DEL)

M/S EXCLUSIVE CAPTIAL LIMITED v. VSJ INVESTMENTS PVT LTD & ORS.

FAO(OS) (COMM)/9/2025 · 2025-04-03

Harish Vaidyanathan Shankar, Subramonium Prasad

body2025

Judgment text

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$~124 * IN THE HIGH COURT OF DELHI AT NEW DELHI + FAO(OS) (COMM) 9/2025, CM APPL. 3470/2025 M/S EXCLUSIVE CAPITAL LIMITED .....Appellant Through: Mr. Harish Malhotra, Mr. Ravi Gupta and Mr. Akhil Sibal, Sr. Advs. with Mr. Apoorv Agarwal, Mr. Madhur Dhingra, Mr. Manav Goyal and Mr. Abhishck Jaiswal, Advs. versus VSJ INVESTMENTS PVT LTD & ORS. .....Respondents Through: Mr. Rajiv Nayyar & Mr. Sandeep Sethi, Sr. Adv. with Ms. Sanyam Khetarpal, Ms. Devika Mohan and Ms. Lisa Sankrit, Advs. for VSJ Investment/R-1 CORAM: HON'BLE MR. JUSTICE NAVIN CHAWLA HON'BLE MS. JUSTICE RENU BHATNAGAR % 03.04.2025 O R D E R 1. This appeal has been filed by the appellant, challenging the Order dated 23.12.2024 passed by the learned Single Judge of this Court in I.A. No. 3178/2022 in CS (COMM) No. 128/2022, titled Asian Hotels North Ltd. v. Yes Bank Ltd. & Ors. (hereinafter referred to as, ‘suit’), whereby the learned Single Judge, while allowing the said application filed by VSJ Investment Pvt. Ltd., respondent no. 1 herein, under Order I Rule 10 of the Civil Procedure Code, 1908 (CPC), permitted VSJ Investment Pvt. LTD. to be substituted in place 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 08/04/2025 at 12:02:39 of the appellant herein as the defendant no. 9 in the said Suit. 2. The learned counsel for the respondent no. 4, who is the plaintiff in the above-captioned suit, submits that in view of the Compromise Settlement Sanction dated 24.01.2025 between the respondent no. 4 and the Bank of Maharashtra, the respondent no. 4 has paid the entire One Time Settlement amount and shall be unconditionally withdrawing the suit pending before the learned Single Judge. 3. As the appellant is withdrawing the Suit itself, nothing further survives in this appeal. Needless to state, once the suit has been withdrawn, any interim/interlocutory order that has been passed in the Suit, cannot survive or affect the rights of the parties to the Suit or others. 4. In view of the above, the appeal is disposed of as having become infructuous. However, in case the respondent no. 4 does not withdraw the Suit, it shall be open to the appellant to revive the present appeal. We further make it clear that the appellant shall be entitled to agitate its individual rights in its individual separate proceedings. NAVIN CHAWLA, J RENU BHATNAGAR, J APRIL 3, 2025 Ab/mk/DG Click here to check corrigendum, if any 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 08/04/2025 at 12:02:39