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LPA - DHC Order - Gagan Infraenergy v. ED - Dated - 28.08.2024

The High Court of Delhi addressed a case involving M/s Gagan Infraenergy Ltd. and the Directorate of Enforcement (ED), where the court ordered the release of shares upon the submission of an interest-bearing FDR. The petitioner has complied with the court's directive to submit the FDR, and the ED has requested time to verify this submission. The matter is scheduled for a follow-up on September 3, 2024.

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11 views2 pages

LPA - DHC Order - Gagan Infraenergy v. ED - Dated - 28.08.2024

The High Court of Delhi addressed a case involving M/s Gagan Infraenergy Ltd. and the Directorate of Enforcement (ED), where the court ordered the release of shares upon the submission of an interest-bearing FDR. The petitioner has complied with the court's directive to submit the FDR, and the ED has requested time to verify this submission. The matter is scheduled for a follow-up on September 3, 2024.

Uploaded by

akshatjain8043
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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* IN THE HIGH COURT OF DELHI AT NEW DELHI


+ W.P.(C) 11264/2021
M/S GAGAN INFRAENERGY LTD. EARLIER KNOWN
AS M/S GAGAN SPONGE IRON PVT. LTD. THROUGH
ITS AUTHORIZED REPRESENTATIVE SH. AJAY
SEHGAL .....Petitioner
Through: Mr. Anirudh Sharma, Mr. Hemant
Shah, Mr. Saurabh Pal, Mr. Gurpreet
Singh Parwanda, Mr. Pallav
Srivastava, Mr. Vishal Mann and
Mr. Akshay Rana, Advocates
versus

DEPUTY DIRECTOR DIRECTORATE OF


ENFORCEMENT & ANR. .....Respondents
Through: Mr. Anurag Ahluwalia, CGSC with
Mr. Kaushal Jeet Kait and Mr. Abhay
Singh, Advocates for R-1/ED

CORAM:
HON'BLE DR. JUSTICE SUDHIR KUMAR JAIN
ORDER
% 28.08.2024
CM APPL. 42632/2024 (for directions)
1. The respondent no. 1/ED filed LPA bearing no. 763/2024 titled as
Deputy Director Directorate of Enforcement V Gagan Infraenergy Ltd.
& Anr. to impugn the order dated 22.05.2024 passed by this Court.
2. This Court vide order dated 22.05.2024 while disposing of the
application bearing no. 12347/2024 has directed that 170,00,168 shares of
M/s Jindal Steel & Powe Ltd. (JSPL) be released in favour of the petitioner
on furnishing interest bearing FDR amounting to Rs. 3,11,05,588/- in the

This is a digitally signed order.


The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
The Order is downloaded from the DHC Server on 09/08/2025 at [Link]
name of the petitioner and further directed that the said FDR be deposited
with the respondent no. 1 who shall be having the lien over the said FDR.
3. The Division Bench of this Court vide order dated 13.08.2024 while
disposing of the LPA bearing no. 763/2024 has directed the petitioner to
replace the security with an FDR in the name of Enforcement Directorate
with an auto renewal clause.
4. Mr. Anirudh Sharma, Advocate for the petitioner stated that the FDR
in terms of the order dated 13.08.2024 passed in LPA 763/2024 has been
submitted to the respondent/ED vide covering letter dated 26.08.2024.
5. Mr. Anurag Ahluwalia, CGSC for the respondent no.1/ED seeks time
to verify the submission of the FDR by the petitioner in terms of the order
dated 13.08.2024 passed in LPA 763/2024.
6. Let the needful be done within 02 weeks.
7. List on 03.09.2024, as already fixed.

DR. SUDHIR KUMAR JAIN, J


AUGUST 28, 2024
sk/am

This is a digitally signed order.


The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
The Order is downloaded from the DHC Server on 09/08/2025 at [Link]

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