STAR PROPWELL PVT LTD vs STATE BANK OF INDIA

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 04.02.2026 Judgment pronounced on:10.03.2026 Judgment uploaded on: 10.03.2026 + RFA(COMM) 446/2024 STAR PROPWELL PVT LTD .....Appellant Through: Mr. Rishu Kant Sharma, Mr. Aryan Jha, Advs. versus STATE BANK OF INDIA .....Respondent Through: Mr. Jitendra Kumar, Mr. Uttam Kumar, Advs. CORAM: HON'BLE MR. JUSTICE ANIL KSHETARPAL HON'BLE MR. JUSTICE AMIT MAHAJAN JUDGMENT ANIL KSHETARPAL, J. 1. The present Appeal, filed by the Appellant [Plaintiff before the Commercial Court], assails the correctness of judgment and decree dated 13.08.2024 [hereinafter referred to as „Impugned Order‟] passed by learned Commercial Court in CS(COMM) No. 282/2020 whereby the Commercial Court dismissed the Plaintiff‟s application under Section 14 of the Limitation Act, 1963 [hereinafter referred to as „Limitation Act‟] and, consequently, dismissed the suit for recovery of Rs. 58,73,850/- as being barred by limitation. 2. The issue which arises for consideration in the present Appeal is whether the Commercial Court was justified in holding that the suit Signature Not Verified Signed By:JAI NARAYAN Signing Date:10.03.2026RFA(COMM) 446/2024 Page 1 of 17 15:06:09 was barred by limitation and in declining the benefit of Section 14 of the Limitation Act to the Plaintiff? FACTUAL MATRIX 3. In order to appreciate the controversy involved in the present Appeal, it would be apposite to briefly notice the relevant facts. For the sake of convenience and clarity, the parties shall be referred to as they were arrayed before the learned Commercial Court. 4. The Plaintiff is a private limited company engaged, inter alia, in real estate development. It was allotted leasehold rights in respect of a parcel of land admeasuring 6995.16 square metres