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

Judgment text excerpt

* 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 Signature Not Verified Signed By:PRATEEK CS(COMM) 717/2019 Page 1 of 24 Signing Date:24.03.2026 15:47:31 inter alia in the business of production and sale of sugar and allied products. ii. In the year 2011, pursuant to a global tender, the Plaintiff Company acquired a Sugar Unit at Motipur, Bihar [“Motipur Sugar Unit”] from the Bihar State Corporation Ltd. Pursuant to this, the Government of Bihar granted a 60-year lease for the said Sugar Unit in favor of the Plaintiff. iii. The Defendant approached the Plaintiff Company and made an offer for carrying out the works of erection and commissioning of a sugar plant along with civil works at the Motipur Sugar Unit. Later, on 28.09.2011, the Plaintiff issued a Letter of Intent [“LOI”] for the design, manufacture, supply, erection and commission, including civil wor