THE BHAJANPURA CO OP URBAN T/C SOCIETY LTD. vs MUKESH KUMAR & ORS.

Judgment text excerpt

$~29 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision : 06.03.2025 + W.P.(C) 2839/2025 & CM APPL. 13451/2025 THE BHAJANPURA CO OP URBAN T/C SOCIETY LTD. .....Petitioner Through: Mr Vipin Dilawari and Mr Hemant Pathak, Advocates. versus MUKESH KUMAR & ORS. .....Respondents Through: None. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA VIBHU BAKHRU, J. (ORAL) 1. The petitioner – a cooperative Society – has filed the present petition, inter alia, impugning an order dated 22.05.2023 (hereafter the impugned order) passed by the Delhi Cooperative Tribunal (hereafter the Tribunal) in appeal No.033/2017/DCT captioned Mukesh Kumar & Others v. The Bhajanpura Co-op. Urban T/C Limited & Others. 2. By the impugned order, the learned Tribunal allowed the respondents appeal against an Arbitral Award dated 12.11.2010 (hereafter the impugned award). In terms of the impugned award, an amount of ₹2,15,168/- along with further interest at the rate of 15 per cent (plus 3 per cent) per annum with effect from 01.11.2010, was awarded in favour of the petitioner society. Signature Not Verified Digitally Signed W.P. (C) 2839/2025 Page 1 of 6 By:TARUN RANA Signing Date:12.03.2025 16:59:27 3. The petitioner society had loaned a sum of ₹1,20,000/- to respondent no.1 (principal debtor) on 07.11.2006. The same was required to be paid along with interest at the rate of 15 per cent per annum in monthly instalments and respondents no.3 to 6 stood sureties for performance of the repayment obligations. The respondents had defaulted in repayment of the loan. 4. In the aforesaid context, the petitioner had also instituted the proceedings under Section 138 of the Negotiable Instruments Act, 1881 (hereafter the NI Act) in respect of dishonoured cheque for an amount of ₹7,07