NEW DELHI: A Delhi court on Friday granted a conditional stay on the attachment of Bikaner House, a property owned by Nagar Palika of Nokha, Rajasthan.
The property was attached in September after the Nagar Palika failed to comply with an arbitral award passed in 2020.
District Judge (Commercial) Vidya Prakash of Patiala House Court issued the stay, subject to Nagar Palika depositing the fixed deposit receipt (FDR) equivalent to the dues within a week. The court emphasised that failure to meet the condition would result in further legal action.
The arbitral award, amounting to Rs 50,31,512, was passed in favour of M/S Enviro Infra Engineers in 2020 and attained finality after Nagar Palika’s appeal was dismissed earlier this year.
However, the continued absence of representation from the Nagar Palika during the execution proceedings prompted the court to order the attachment of Bikaner House on September 18.
Advocate Sahil Garg, representing the decree-holder company, stated, “...if the Nagar Palika fails to deposit the FDR, we will file for the auction of the attached property.”
Nagar Palika’s counsel assured the court of compliance during Friday’s hearing. The case has now been listed for further proceedings on January 7.