BHUSHAN INFRASTRUCTURE PRIVATE LIMITED vs UNION OF INDIA THROUGH FINANCE SECRETARY, MINISTRY OF FINANCE & ORS.

Judgment text excerpt

$~3 & 4 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 25th February, 2025 + W.P.(C) 3616/2023 & CM APPL. 14051/2023 BHUSHAN INFRASTRUCTURE PRIVATE LIMITED .....Petitioner Through: Mr. Akhil Sibal, Sr. Advocate with Ms. Ranjana Roy Gawai, Ms. Vashudha Sen, Mr. Vineet Wadhwa and Ms. Jhanvi Sindhu, Advocates. versus UNION OF INDIA THROUGH FINANCE SECRETARY, MINISTRY OF FINANCE & ORS. .....Respondents Through: Mr. Vijay Joshi with Mr. Hemant Goyal, Advocates for respondent No.1. Mr. Niraj Kumar with Mr. Nikhil Narayan Arora, Advocates for respondent No.3. + W.P.(C) 3636/2023 & CM APPL. 14084/2023 TREMENDOUS MINING AND MINERALS PRIVATE LIMITED & ANR. …….Petitioners Through: Mr. Akhil Sibal, Sr. Advocate with Ms. Ranjana Roy Gawai, Ms. Vashudha Sen, Mr. Vineet Wadhwa and Ms. Jhanvi Sindhu, Advocates. versus UNION OF INDIA & ORS. .....Respondents Through: Mr. Satya Ranjan Swain, SPC for UOI with Mr. Rudra Paliwal, GP. Mr. Niraj Kumar with Mr. Nikhil Narayan Arora, Advocates for respondent No.3. CORAM: HON'BLE MR. JUSTICE MANOJ JAIN J U D G M E N T (oral) 1. A very short point is involved in both the abovesaid writ Signature Not Verified Digitally Signed W.P.(C) 3616 of 2023 and W.P. (C) 3636 of 2023 1 By:SONIA THAPLIYAL Signing Date:28.02.2025 12:53:01 petitions. 2. Since the issue is same and similar in both the abovesaid writ petitions, with the consent of learned counsel for the parties, these are being disposed of by this common order. 3. Let me first advert to the facts averred in W.P.(C) 3616/2023. 4. There was an Agreement for Pledge of Shares between M/s Bhushan Infrastructure Private Limited (petitioner) and IFCI Limited (respondent No.3). 5. Such agreement was reduced in writing on 18.06.2014 and as per the recitals appearing in the abovesaid agreemen