IPL SUGARS & ALLIED INDUSTRIES LTD. vs SHRI S.B. BHAD SOLE PROPRIETOR M/S. ENGINEERS

* IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 24th MARCH, 2026 IN THE MATTER OF: I.A. 13426/2023 & I.A. 10753/2020 IN CS(COMM) 717/2019 IPL SUGARS & ALLIED INDUSTRIES LTD. .....Plaintiff Through: Mr. Jeevesh Nagrath, Senior Advocate with Mr. Vivek Singh, Ms. Kirti Mewar, and Ms. Kriti Sharma, Advs versus SHRI S.B. BHAD SOLE PROPRIETOR M/S. ENGINEERS .....Defendant Through: Mr. Anil K Airi, Senior Advocate with Mr. Sudeep Dey, Mr. Vishal Tyagi, Mr. Harsh Gautam and Ms. Sadhna Sharma, Advocates CORAM: HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD JUDGMENT I.A. 13426/2023 1. The instant Suit has been filed for a recovery of Rs. 30,68,92,600/- along with interest @ 12% per annum from the Defendant. 2. Facts as borne out from the Plaint are stated as under: i. The Plaintiff Company, incorporated under the Companies Act, 1956, having its registered office at 10-B, Rajendra Park, Pusa Road, New Delhi – 110060, is a subsidiary of Indian Potash Limited and engaged 2012. v. It is stated that before the acquisition of the Motipur Sugar Unit by the Plaintiff Company, the same was acquired by the Government of Bihar. Subsequent to the issuance of the LOI and the advance payments made by