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Legal Case against Triveni Infrastructure Builders, Faridabad

Postby vinitanandwani » Thu Apr 28, 2011 9:37 am

Triveni Builders are in Problem
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Re: Case against Triveni Builders

Postby aroraanil92@gmail.com » Thu Apr 28, 2011 10:31 am

pl confirm the news paper and date of the publish.
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Re: Case against Triveni Builders

Postby freemind76 » Thu Apr 28, 2011 11:15 am

There are several cases going on like this....nothing gonna happen. These builders have links till top level...
God knows what gonna happen to our hard earned money...
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Re: Case against Triveni Builders

Postby vinitanandwani » Thu Apr 28, 2011 12:14 pm

The newspaper is Dainik Bhaskar and the date is tentatively 17thor 20th April .

But I found somethng in Todays Dainik Bhaskar also
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CASE AGAINST TRIVENI BUILDER

Postby aroraanil92@gmail.com » Thu Apr 28, 2011 12:19 pm

IN THE HIGH COURT OF DELHI AT NEW DELHI

W.P.(CRL.) 390/2010 and Crl.M.As. 6114/2010, 7890/2010, 7994/2010,
8419/2010, 13477/2010, 13976-13977/2010, 15534/2010, 15884/2010, 16192-
16195/2010, 16301/2010, 16427-16428/2010, 16825/2010, 17735/2010, 17766/2010,
19074/2010, 19079/2010, 759-760/2011, 1869/2011, 3368-3369/2011, 3421-3422/2011
and 4339/2011.

M/S. TRIVENI INFRASTRUCTURE
DEVELOPMENT COMPANY
LIMITED ..... Petitioner

Through Mr. Arvind K. Nigam, Advocate with Mr. Akhil Sibal, Advocate with
Mr. Sanjay S. Chhabra and Mr. Alok K. Aggarwal, Advocates.

versus

STATE ..... Respondent


Through Mr. Akshay Bipin, Additional Standing Counsel for State with Mr.
Vinod Gandhi, Inspector (EOW).

Mr. A.N. Haksar, Senior Advocate as Amicus Curiae with Mr. Udayan Jain,
Advocate.

Mr. Rajat Aneja, Advocate for complainants/Investors.

Mr. Neeraj Kishan Kaul, Senior Advocate with Mr. Jay Savla,Ms. Meenakshi Ogra
and Mr. Sumit Ghosh, Advocates for SICOM Ltd.

Mr. S.K. Mishra, Advocates for applicant in C.A.15884/2010.

Mr. Haroon Asrar, Advocate for Mr. Vishnu Mehta, Advocate for State Bank of
Bikaner and Jaipur with Mr. Ved Pakash Juneja, Dy. Manager of State Bank of
Bikaner and Jaipur.

Mr. Saran Suri, Advocate for Oriental Bank of Commerce with Mr. Narang,
Assistant General Manager of OBC.

Mr. Vivek Sharma, Advocate for unsecured creditors.

Mr. Varun Tyagi, Advocate for applicants Mr. Hari Kishan Parsad and Mr. Shyam
Aggarwal.

Mr. Mukesh Anand, Advocate for Sanchar Nest Sahkari Awas Samiti Ltd.

Ms. Seema Gupta, Advocate for Investor Mr. R.P. Aggarwal.

Mr. Kaustubh Sinha, Advocate with Ms. Surbhi Mehta, Advocate for Investor.

Ms. Purnima Sethi, Advocate for Official Liquidator.


CORAM:
HON'BLE MR. JUSTICE MANMOHAN

O R D E R
19.04.2011

Co. Appl. 4513/2011 (exemption)
Allowed, subject to all just exceptions.
Accordingly, application stands disposed of.
Co. Appl. 4512/2011
Keeping in view the averments in the application, same is allowed and
applicant is permitted to intervene and assist this Court in the present
petition.
With the aforesaid observations, present application stands disposed of.
W.P.(CRL.) 390/2010 and Crl.M.As. 6114/2010, 7890/2010, 7994/2010, 8419/2010,
13477/2010, 13976-13977/2010, 15534/2010, 15884/2010, 16192-16195/2010,
16301/2010, 16427-16428/2010, 16825/2010, 17735/2010, 17766/2010, 19074/2010,
19079/2010, 759-760/2011, 1869/2011, 3368-3369/2011, 3421-3422/2011 and
4339/2011.

The valuation report submitted by M/s. ITCOT Consultancy and Services
Limited with regard to the company?s land situated at village Mehrauli, Pargana
Tehsil, Dasna, District Ghaziabad (U.P.) has today been opened in Court. The
Registry is directed to furnish photocopies of the same to the Official
Liquidator as well as to the learned Amicus Curiae and the learned counsel for
the company.
The Official Liquidator is directed to finalize the sale terms of the
aforesaid property after holding a meeting with the secured creditors on 29th
April, 2011 at 4:30 p.m.
No notice of the said meeting be issued to
M/s. SICOM, Oriental Bank of Commerce and
State Bank of Bikaner and Jaipur
as they are represented before
this Court and are aware about the meeting.
Let intimation about the said meeting be issued to
UCO Bank,
Punjab National Bank and
Central Bank of India both by the Official Liquidator as well
as by the learned counsel for the company.

M/s. ITCOT Consultancy and Services Ltd. is also directed to furnish a
fresh valuation report with regard to the company?s property situated at
Dharuheda and Rewari. The photocopies of the title documents with regard to
these two properties shall be furnished by the company to the Official
Liquidator within a period of two days from today.
M/s. ITCOT Consultancy and Services Ltd. is directed to file its valuation
report with regard to aforesaid properties within a period of six weeks, both
with and without licence. The valuation report shall be filed in a sealed cover
with this Court.
M/s. ITCOT Consultancy and Services Ltd. shall be paid by the management
of petitioner company within a period of two weeks of receipt of the bill.
With consent of parties, matter is adjourned to 03rd May, 2011.
In the meantime, the secured creditors are directed to have another
meeting with Mr. A.N. Haksar, learned Amicus Curiae.
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ORDERS DTD 03/05/2011 AGAINST TRIVENI INFRASTRUCTURE

Postby aroraanil92@gmail.com » Mon May 09, 2011 12:39 pm

IN THE HIGH COURT OF DELHI AT NEW DELHI

W.P.(CRL.) 390/2010 and Crl.M.As. 6114/2010, 7890/2010, 7994/2010,
8419/2010, 13477/2010, 13976-13977/2010, 15534/2010, 15884/2010, 16192-
16195/2010, 16301/2010, 16427/2010, 16825/2010, 17735/2010, 17766/2010,
19074/2010, 759-760/2011, 1869/2011, 4339/2011 and 5232-5233/2011.

M/S. TRIVENI INFRASTRUCTURE
DEVELOPMENT COMPANY
LIMITED ..... Petitioner

Through Mr. Arvind K. Nigam and Rajiv Nayar, Senior Advocates with Mr. Mr.
Alok K. Aggarwal, Advocates.

versus

STATE ..... Respondent
Through Mr. Akshay Bipin, Additional Standing Counsel for State with Mr.
Vinod Gandhi, Inspector (EOW).

Mr. A.N. Haksar, Senior Advocate as Amicus Curiae with Mr. Udayan Jain,
Advocate.

Mr. Rajat Aneja, Advocate for complainants/Investors.

Ms. Meenakshi Ogra and Mr. Sumit Ghosh, Advocates for SICOM Ltd.

Mr. Maninder Singh, Senior Advocate
with Mr. Kunal Sinha and Mr. Abhishek,
Advocates for applicants in Crl.M.A.
6115/2010.



Mr. S.K. Mishra, Advocates for applicant in Crl. M.A.15884/2010.

Mr. Bharat Gupta, Advocate for applicant in Crl. M.A. 759/2011.

Ms. Achal Gupta, Advocate for applicant in Crl.M.A. 17766/2010.

Ms. Sakshi Gupta, Advocate for Mr. Vishnu Mehra, Advocate for State Bank of
Bikaner and Jaipur with Mr. R.K. Bhatnagar, Chief Manager and Mr. Ved Pakash
Juneja, Dy. Manager of State Bank of Bikaner and Jaipur, Connaught Circus
Branch, New Delhi.

Mr. Gunjan Kumar, Advocate for Oriental Bank of Commerce with Mr. Harish Narang,
Assistant General Manager of OBC.

Mr. Avneet T. Gupta, Advocate for applicant in Crl.M.A. 5232/2011.

Mr. Kaustubh Sinha, Advocate with Ms. Surbhi Mehta, Advocate for Investor.

Mr. Nitin K. Gupta, Advocate for Investors.

Ms. Purnima Sethi, Advocate for Official Liquidator.



CORAM:
HON'BLE MR. JUSTICE MANMOHAN


O R D E R
03.05.2011

Today, the draft consent order prepared by Mr. A.N. Haksar, learned Amicus
Curiae has been circulated to all the parties and various suggestions have been
discussed.
At the request of parties, adjourned to 13th May, 2011 at 12:00 noon.
The valuation report submitted by M/s. ITCOT Consultancy and Services
Limited with regard to the company's land at Faridabad has today been opened in
Court. The Registry is directed to furnish photocopies of the same to the
Official Liquidator as well as to the learned Amicus Curiae and the learned
counsel for the company.
The Official Liquidator has also filed a fresh compliance report. The same
is taken on record. Mr. Rajiv Nayar, learned senior counsel states that he
would furnish affidavits as well as Board Resolutions on behalf of RMS Club and
Resorts Pvt. Ltd., M/s. Chahat Garments Ltd and Rewari Developers (P) Ltd.
authorizing the Official Liquidator to proceed ahead with the sale in accordance
with the draft sale notice annexed to the compliance report.
After receipt of the said affidavits as well as the Board Resolutions, the
Official Liquidator is directed to proceed ahead with the publication of
advertisements in `The Times of India' (English) and `Dainik Jagran' (Hindi).

The responsibility of getting the advertisements published in the newspapers is
on the management of the company.

MANMOHAN,J

MAY 03, 2011
js
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Re: Status of Payments from Triveni through Court Case (EOW)

Postby aroraanil92@gmail.com » Fri May 20, 2011 5:55 pm

IN THE HIGH COURT OF DELHI AT NEW DELHI
13.05.2011


Present : Ms. Shweta Bari, Advocate for Petitioner in Co. Pet. 39/2009.
Mr. Sarat Chandra with Mr. Sameer Sharma, Advocates for
Petitioner No. 1 in Co. Pet. 333/2010.
Mr. B.K. Saini with Mr. Harish Sharma, Advocates for
Petitioner Nos. 2, 3 and 4 in Co. Pet. 333/2010.
Mr. Arvind K. Nigam and Mr. Rajiv Nayar, Senior Advocates with Mr. S.S. Chhabra
and Mr. Alok K. Agarwal, Advocates for Triveni Infrastructure Development Co.
Ltd.
Mr. A.N. Haksar, Senior Advocate with Mr. Udayan Jain, Advocate as Amicus
Curiae.
Mr. Akshay Bipin, Additional Standing Counsel for State with
Mr. Vinod Gandhi, Inspector (EOW).
Mr. Vikas Singh and Mr. Maninder Singh, Senior Advocates with Mr. Kunal Sinha,
Advocates for applicants.
Mr. K. Datta with Mr. Diggaj Pathak, Advocate for Applicant CA 1363/2010 in CP
39/2009
Mr. Vishnu Mehra with Mr. R.L. Kadamb, Advocates for SBBJ.
Mr. Dinkar Singh, Advocate for unsecured creditor/flat buyer.
Mr. Vivek Sharma, Advocate for Applicant.
Ms. Shilpi Chowdhary, Advocate for SICOM.
Mr. Chandan Kumar, Advocate for Applicant in CA 863/2011 in Co. Pet. 333/2010.
Mr. M. Dutta, Advocate for Applicant in CA 879/2011 in Co. Pet. 8/2011.
Mr. Ashish Makhija, Advocate for Applicant in CA 883/2011 in Co. Pet. 8/2011.
Ms. Shiwani, Advocate for Ms. Suruchii Aggarwal, Advocate for Applicant in CA
708/2011.
Mr. R.K. Bhatnagar, Chief Manager and Mr. Ved Parkash Suneja, Deputy Manager,
State Bank of Bikaner and Jaipur in person.
Mr. Saran Suri, Mr. Brij Mohan and Mr. Basu, Officers of Oriental Bank of
Commerce in person.
Mr. S.K. Tyagi for State Bank of Patiala.
Mr. Kaustubh Sinha with Ms. Surbhi Mehta, Advocate for Investor.
Ms. Amrita Bhattacharya, Advocate for Applicant in CA 821-822/2011.
Mr. Rajat Aneja, Advocate for complainants/Investors.
Ms. Purnima Sethi, Advocate for Official Liquidator with
Mr. S.B. Gautam, Official Liquidator.

CO. APPL. 863/2011 IN CO. PET. 333/2010


At the request of learned counsel for applicant, adjourned to 2nd June,
2011.
CO. APPL. 884/2011 IN CO. PET. 8/2011
Allowed, subject to all just exceptions.
CO. APPL. 708/2011 IN CO. PET. 39/2009
CO. APPLS. 879/2011 and 883/2011 IN CO. PET. 8/2011

The present applications have been filed for impleadment.
Keeping in view the averment in the applications, the applicants are
impleaded as co-petitioners in the present petition. Let the co-petitioners also
file an affidavit disclosing their cause of action against respondent-company.
Learned counsel for applicants are directed to file amended memo of
parties within one week from today.
Accordingly, the present applications stand disposed of.



CO. APPLS. 239/2011, 708/2011 IN CO.PET. 39/2009
CO.PET. 333/2010 and CO. APPLS. 1464/2010, 2029/2010, 2180/20102248/2010,
376/2010
CO.PET. 8/2011 and CO. APPLS. 879/2011, 883/2011, 884/2011
(Against Triveni Infrastructure Development Company Limited.)


All the counsel are in agreement that if an official liquidator were to
be appointed, there would be very little possibility of completing the
construction and there would be virtually no possibility of repaying the
unsecured creditors.

On 30th March, 2011, Mr. A.N. Haksar, learned Amicus Curiae had
circulated draft consent terms for management and administration of respondent-
company. Thereafter certain suggestions made by the parties were incorporated
in the said draft by the Amicus Curiae. Today, all the parties have
reached a consensus. Accordingly, with the consent of parties the following
order is passed:-
CONSENT TERMS

1. APPOINTMENT OF A COMMITTEE

A committee is appointed under the provisions of Order 40 Rule 1 CPC to
discharge functions to achieve the Object which is to supervise the management
of Triveni Infrastructure Development Co. Ltd. (TRIVENI) conducted by the Board
of Directors as assisted by the Executive Committee.
That the consent terms are subject to review by this Court after six months.

2. CONSTITUTION OF THE COMMITTEE

The Committee shall comprise of Mr. Justice Anil Dev Singh, retired Chief
Justice of Rajasthan High Court and Mr. Justice P.K. Bahri, a retired Judge of
this Court with remuneration of Rs. 50,000/- each per month.
3. NAME OF THE COMMITTEE

?TRIVENI Monitoring Committee? (Also referred to as ?the
committee?).
4. APPLICABILITY:
The appointment of the committee and its applicability will extend to all the
creditors, investors, refund-seekers, complainants, allottees, suppliers and
farmers/land owners etc., of TRIVENI other than SICOM/OBC/State Bank of Bikaner
and Jaipur (SBBJ).


5. DEFINITIONS:
a) ?Board of Directors? shall mean the Board of Directors of TRIVENI consisting
of the persons duly appointed by the this Court, Secured Creditors Unsecured
Creditors, and allottees and Share Holders pursuant to the order(s) passed by
this Court for appointment of Committee. (Fully described in clause 6)

b) ?Creditors? shall mean all secured, unsecured and statutory creditors of the
TRIVENI including investors, refund seekers, complainants, claimants, Financial
Institutions, government (for State dues and Central dues), contractors, raw-
material suppliers, labourers, farmers/ landowners etc. but shall not include
SICOM/OBC/SBBJ (since these secured creditors have chosen to pursue their
remedies separately).

c) ?Corpus Fund? shall mean the funds generated through various means and
deposited in the designated account(s) of the Triveni Monitoring Committee.

d) ?Executive Committee? shall consist of erstwhile Directors of TRIVENI who
shall resign from the Board of the Directors on passing of the order for
appointment of the ?Triveni Monitoring Committee? as per the Consent Terms.

e) ?Complainants? shall mean all creditors, investors and allottees etc. who
have orally or in writing initiate(d) complaints/legal proceedings (now seeking
refund or not) for recovery, damages, compensation, mesne profit, and such
other reliefs,.


f) ?Erstwhile Directors? shall means existing directors who will resign from the
Board on passing of the order for appointment of the Committee as per the
Consent Terms.


g) ?Legal Proceedings? shall mean all proceedings instituted by creditors,
investors and complainants etc for recovery, damages, compensation, mesne
profit, and such other reliefs therefrom.

h) ?Sub-Committee? shall consist of group of persons to represent the investors
seeking refund and the buyers seeking allotment, in equal ratio. The sub-
committee will be appointed with the consent of the Committee with a view to
assist the Board and Committee.

i) ?Investors? shall mean any person/ complainant who has invested any amount
with TRIVENI for booking, allotment, loan or otherwise and to secure his
investment/refund had been delivered receipts, cheques, acknowledgements, or any
such documents confirming such investment.


j) ?Complaint? shall mean any allegation made orally or in writing, with a view
of taking any action including proceedings/prosecutions against TRIVENI alone or
jointly with its erstwhile Directors by creditors, investors and complainants
etc inter-alia, seeking refund, recovery, damages, compensation, mesne profit,
and such other reliefs therefrom.

6. BOARD OF DIRECTORS:
a. The Board of Directors of TRIVENI shall comprise 6 (six) persons appointed
in the following manner:-



i. One person to be nominated by the committee on the behalf of the
Secured Creditors,

ii. Mr. Rajiv Bahl, Advocate on the panel of OL, appointed by this Court,

iii. Mr. Azad Singh Kataria, Secretary BSF Welfare Society as appointed
on behalf of Allottees availing allotment,

iv. One person to be nominated by the committee on the behalf of the
Unsecured Creditors,

v. Two persons appointed by the shareholders of TRIVENI.

7. MAIN OBJECT OF THE COMMITTEE:

The committee is formed / appointed to rehabilitate and revive TRIVENI in order
to safeguard the interest of the investors and flat buyers. The Committee, to
start with, is responsible to sell the properties of TRIVENI as per law which at
the time of formation of the committee have been identified as situated at
Ghaziabad, Dharuhera, Rewari and Faridabad. The present management has assured
this Court that it has clear marketable title with regard to the said properties
and the same are free from any mortgage or encumbrances or charge. The funds
obtained from the sale of the above referred properties will form ?Corpus Fund?
which will be utilized by the committee not only to pay off the secured
creditors, investors, refund seekers, complainants who have filed legal
proceedings against the company jointly with its erstwhile directors but also to
pay off all other class of creditors etc., as well as to carry out
construction/development activities at various sites of the company to
facilitate handing over possession of flats/units in a time bound manner. The
Committee will also be empowered to sell properties developed by Triveni and the
funds so generated will also form part of the Corpus Fund. Further the
administrative expenses for routine functioning of the company will also be met
out of the Corpus Fund.
8. SCOPE OF THE COMMITTEE:

i. The Committee will be custodia-legis of all the properties/assets
owned and/ or registered in the name of the Company and its subsidiaries.
ii. The Consent terms would apply to all Statutory Creditors, Secured,
Unsecured, (including Investors, Refund Seekers, Complainants, Allottees,
Suppliers, and Farmers/Land owners etc) of TRIVENI other than SICOM/OBC/SBBJ.
iii. The committee would be incharge of and responsible for the day to
day activities of the Company broadly classified in Schedule A. The committee
will throughout be assisted by one person nominated by the Executive Committee
and the director appointed by the Court and the sub-committee.
iv. That for utilization of the Corpus created by the committee with the
assistance of the Board of Directors/Executive Committee for payment to
Creditors and refund seekers.
The Committee will be assisted by a sub-committee
comprising of one representative from those seeking refund and one
representative from the buyers seeking allotment.
v. That all financial transactions of the company shall be carried out
from the designated Bank Account(s) opened in the name of A/c ?TRIVENI
Monitoring Committee? to be operated by one authorized representative of the
Company jointly with the authorized representative of the Committee introduced
as co-signatory. All financial transactions of the company shall be carried out
only through the said designated bank account(s). All deposits/sale proceeds
received by the company shall be deposited in the said designated accounts and
all payments shall be made from the said bank account(s). That all amounts


presently lying in all the bank accounts of the company including those attached
by Economic Offence Wing shall be transferred to the designated account(s) by
the Committee. Further all cash in hand as certified by the Company?s auditors
as on the date of order of this Court accepting the consent terms shall also be
deposited in the said designated account(s).

The Committee shall notify to all the existing customers of the company to make
payments in favour of ?TRIVENI Monitoring Committee?. The amount lying with this
Court deposited by the company shall be transferred to one of the said
designated account(s) opened in the name of ?TRIVENI Monitoring Committee? as
notified by the Committee to the Registrar General of this Court.

vi. The Committee with the assistance of the Board of Directors/Executive
Committee and the staff of the company shall carry out the day to day activities
of the company. All decisions as regards the sale of the properties of the
company as recommended by the Executive Committee/Board of Directors shall be
subject to the final approval of the Committee. The Committee shall have
overriding powers over the decisions taken by the Board/Executive Committee as
regards the utilization of the corpus.

vii. That all claims including those arising out of legal
proceedings/complaints against TRIVENI and/or its erstwhile Directors sued
jointly with TRIVENI shall be entertained/ processed and settled from the Corpus
by the Committee. The claims shall be processed in the manner set out in
Schedule B.

viii. The committee will not utilize the funds available with it for the
discharge of the personal liabilities of the erstwhile directors pertaining to
any property.

ix. That the complainant / refund seekers as per the list furnished by the EOW
shall be entitled to exercise their option to either retain their allotment or
to seek refund from the company. In the event of such complainant exercising his
option to retain the allotment the committee shall be empowered to deal with the
same.

9. LEGAL PROCEEDINGS OR CLAIMS OVER TRIVENI AND/ OR ITS DIRECTORS
/ EMPLOYEES:-

i. That all Civil Proceedings for recovery of the claim/payment/compensation
shall not proceed without the leave of the Court except those proceedings
initiated or to be initiated by the secured creditors who have chosen to remain
outside the scheme. It is, however made clear that all persons seeking refund or
settlement of their claims shall be entitled to approach the Committee for the
said purpose.
ii. That the Executive Committee may file suitable application(s) for
settlement/compounding of criminal complaints in accordance with Law.
iii. That all claims of the Creditors, investors, refund seekers, complainants
shall be entertained / processed and settled from the Corpus by the Committee
and any person aggrieved by the decision of the Committee will be entitled to
approach this Company Court.


10. MECHANISM / SCHEDULE OF PAYMENT TO THE CREDITORS/ CLAIMANTS:

i. The schedule of payment to all class of creditors of TRIVENI for settlement
of their claim including those arising in legal proceedings will be as per the
guidelines evolved by the committee in the larger interest of the company and


its investors in installments or in lump-sum or in a manner as decided by the
committee.
ii. The Committee may settle all claims made before it on such terms as it
thinks fit.

11. UTILIZATION OF FUNDS MADE AVAILABLE TO THE COMMITTEE:

The committee will utilize Company?s finances broadly classified as under:-
a. Disbursement of the amounts to all classes of creditors
of TRIVENI.
b. Towards construction activities/ expenses carried out
at various sites.
c. Day to day running expense of the company, salaries to the staff
and monthly remuneration only to the Board of Directors (including
sitting fee). Board of Directors/Executive Committee would also be filing
monthly reports with the Committee.
d. Monthly remuneration of the Committee.
e. Fees payable to various govt., authorities on or for grant/
renewal of license(s).
f. For any other activity connected with the business of TRIVENI as
the committee deems appropriate
12. PERIOD OF THE COMMITTEE:

The committee presently shall initially have a term of one year extendable by
this Court for such period as is considered necessary keeping in view the
progress/ completion of the task assigned to the Committee. The committee shall
cease to function on the orders of this Court.

13. BOARD OF DIRECTORS AND EXECUTIVE COMMITTEE OF TRIVENI: The Board of
Directors of the company and Executive Committee shall function to assist the
Committee and to comply with the statutory requirements stipulated under the
Companies Act, 1956. The Board of Directors shall consist of six persons. The
Executive Committee will consist of existing directors.

i. Board of Directors of TRIVENI would comprise of (a) one person to be
nominated by the committee on the behalf of the Secured Creditors, (b) Mr Rajiv
Bahl, Advocate on the panel of OL, appointed by this Court, and (c) Mr Azad
Singh Kataria, Secretary BSF Welfare Society as appointed on behalf of Allottees
availing allotment, and (d) one person to be nominated by the committee on
behalf of the Unsecured Creditors, and (e) two persons to be appointed by the
shareholders of TRIVENI. The board would be liable and responsible for taking
all future decisions and to manage the affairs of the company starting from the
date of order passed by this Court and till such time it is varied or modified
by this Court. The Board would recommend to the committee modalities, i.e.,
utilization of the amounts received and deposited in Triveni [TRIVENI ?
Committee Bank account(s)] in consultation with the executive committee.
ii. The Board of TRIVENI constituted pursuant to the present consent terms shall
in no manner be held accountable/responsible for past acts/conduct of the
Company.

iii. The Director appointed on behalf of unsecured creditors/refund seekers
shall retire by rotation after every 6 Month.

iv. All Existing Directors will resign from the Board and will function as an
?Executive Committee?, to assist the Committee/Board in day to day management
without any authority and remuneration.


14. FUNCTIONS OF THE BOARD OF DIRECTORS OF TRIVENI AND EXECUTIVE COMMITTEE:-



i. The Board/Executive Committee/employees as well as the staff of the company
shall provide full assistance/ support/ co-operation to the Committee in
managing and carrying out day to day functioning of the Company.
ii. That Board/Executive Committee may take steps to market the real estate
projects of the company within and outside India, including raising overseas
finances for the company in order to create corpus for the committee to expedite
the process of payment of debt/ liability as well as to complete the
construction activity in the ongoing projects.

15. That all the action initiated by Economic Offence Wing in exercise of power
under section 102 Cr.PC. shall stand substituted by the undertaking on behalf of
the existing directors of the company to the effect ?not to sell or create third
party right in the properties in their name, immediate family members or in the
name of the company or its subsidiaries acquired subsequent to 21st Feb, 2006
(i.e. the date of incorporation and commencement of business of the Company)
till the date of constitution of the Committee?. The Investigating Officer be
directed to issue communication to the said effect to the concerned authorities.
The erstwhile directors to file affidavits within one week to the effect that no
funds of the company have been utilised for the purchase or payment of any
property purchased prior to February, 2006.

16. That on passing of the order envisaged herein the conditions/ injunctions /
restraints imposed by this Court in Writ Petition (Crl) No. 390 of 2010 and
Bail application No. 1641 of 2009 on the Company and its erstwhile directors
where sued/prosecuted jointly shall be substituted and superseded by the
conditions imposed herein, subject to the order passed today by this Court on
13th May, 2011 in the Bail Application No. 1641/2009.

17. PAYMENT TO SECURED CREDITORS
i. The company under the supervision of the Committee shall abide by the
proposal submitted to secured creditors on best effort basis for repayment of
the loan amount. It is, however made clear that SICOM/OBC/SBBJ have chosen to
remain outside the present scheme of arrangement.
ii. The security furnished to the financial institutions is neither recalled nor
diluted on appointment of the Committee till the repayment of their respective
loans.

18. That parties are at liberty to apply to this Court for any variation/
modification of the present terms and conditions.

SCHEDULE ? A
A. To advertise, promote, market and sell the units in the ongoing and
future projects of the Company as well as to enter into Flat Buyers Agreement
with the prospective customer in the ongoing/ future real estate projects of the
company.
B. To pursue and take all such steps on the applications filed by the
company for grant of licenses, permissions, sanctions from various development
authorities and other competent authorities for the ongoing and future real
estate projects of the company.
C. To oversee and supervise the construction activity presently carried
out on various sites as well as likely to be carried out in future projects on
license being granted in favour of the company.
D. To do necessary follow up and notify the customers availing allotment
for payment of the installments due and would fall due in future and collection
of the said installments. The Committee shall be entitled to take all steps in
terms of the existing contract between the parties in the event of any breach.
E. To take all steps to accelerate the construction activity at various
sites and to create a corpus with the assistance of the Board in order to pay


off the liabilities of the company and to all other acts beneficial and
necessary to revive and streamline the business of the company as well as to
address the grievances of those seeking refund and buyers seeking allotment.
F. To sell, transfer, alienate, lease and/ or enter into such similar
agreement with respect to the properties owned and possessed by TRIVENI with
third parties to raise finances to enable the company to meet its financial
obligations. The finances raised by the Committee shall be separately ear-marked
to be utilized for various financial obligations, including payment to refund
seekers, towards construction in the ongoing projects, towards statutory
liabilities, towards administrative charges payable to various authorities for
the construction as well as to meet the day to day expense/ liabilities of the
company.
G. To complete the transaction with the ongoing customers whose flats,
units, plots are ready for possession and to execute the documents for transfer
at the office of the Sub-Registrar and to receive balance/ outstanding payments
from the said customers.
H. To convene quarterly meetings with the representative of the allottees
availing allotment to apprise them of the status of construction in order to
restore faith and confidence in the said allottees.
I. To monitor the preparation of daily books of accounts, cash book,
ledger journal, etc.
J. To disburse payment to the contractors, vendors, architects and all
such persons associated with the construction being carried out at various site
on daily/ weekly basis as per the requirement.
K. To monitor and pursue the legal cases pending by and against the
company as considered appropriate by the Committee.

SCHEDULE ? B
A. That all claims by creditors be received by a person designated by the
Committee to receive such claims.
B. That the claims should be accompanied with all supporting documents to
the satisfaction of the Committee.
C. The said claim would be forwarded to the management of the company for
verification/comments which shall be carried out within the time specified by
the Committee.
D. The claim verified shall be forwarded back to the designated person
appointed by the committee.
E. That the Committee will consult the claimants as well as Board /
Executive Committee for settling claims made against the company.
F. That the Committee alongwith the authorized representatives appointed
by the Committee shall have discussion with the Claimant for arriving at a
settlement of the amount payable to the Claimant.

G. The Settlement Agreement would be reduced in writing.
H. The payment would be made by the committee against the settlement as
per the schedule fixed by the Committee.
I. The limitation of 80% of the claims as decided in order of the Delhi
High Court dated 25.05.10 or by limitation prescribed by any other order of the
Delhi High Court shall not apply to the settlement of claims to be decided by
the Committee.?

In fact, the present consent order is on ?best effort basis? and no
guarantee of repayment has been offered to any of the parties.
I must place on record my appreciation for all the counsel who appeared
in the present case, in particular, learned Amicus Curiae, Mr. A.N. Haksar and
Mr. Udayan Jain for their professionalism, patience and maturity.
Registrar (Vigilance) shall proceed with the matters listed before him
for 30th May, 2011, 31st May, 2011 and 1st June, 2011 for disbursement of the
claims.
Thereafter the matter shall be dealt by the Committee.


The Official Liquidator has also circulated a final draft sale notice
with regard to Ghaziabad property which has been agreed to by all the parties. A
copy of the final draft sale notice has been handed over in Court to Mr. Rajiv
Nayar, learned senior counsel appearing for respondent-company so that the same
can be published in accordance with the order dated 3rd May, 2011 passed in W.P.
(Crl.) 390/2010. It is pertinent to mention that to ensure transparency and to
gain public confidence, the Official Liquidator attached to this Court had been
requested to prepare a draft sale notice.
List the matter on 2nd June, 2011 for sale of Ghaziabad property of
respondent-company.

Registry is directed to forthwith forward a copy of this order to Mr.
Justice (Retd.) Anil Dev Singh and Mr. Justice (Retd.) P.K. Bahri.



MANMOHAN,J
MAY 13, 2011
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Re: Status of Payments from Triveni through Court Case (EOW)

Postby sendtomanish » Fri May 20, 2011 6:08 pm

Informative posting,thanks!
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Re: Legal Case against Triveni Infrastructure Builders, Faridabad

Postby vinitanandwani » Fri Jun 03, 2011 8:29 am

त्रिवेणी कंपनी के अधिकारियों पर धोखाधड़ी का केस


२२.५० लाख रुपए की हेराफेरी का आरोप

भास्कर न्यूज & फरीदाबाद

नहरपार फ्लैट देने के नाम पर २२.५० लाख रुपए की धोखाधड़ी करने के आरोप में पुलिस ने त्रिवेणी गु्रप के चेयरमैन और मैनेजिंग डायरेक्टर के खिलाफ धोखाधड़ी का केस दर्ज किया है। यह मामला अदालत के आदेश पर दर्ज किया गया है।

कोर्ट से इस्तगासा प्राप्त होने पर एनएच-चार एनआईटी निवासी सुभाष चौधरी ने शिकायत दर्ज कराया। मामले में कहा गया है कि मुद्दई ने नहरपार सेक्टर-७८/८९ में फ्लैट खरीदने के लिए साढ़े बाइस लाख रुपए त्रिवेणी गु्रप के चेयरमैन सुमित मित्तल और मैनेजिंग डायरेक्टर मधुकर मित्तल को दिए थे। ये रुपए उन्होंने २७ फरवरी २००७ को दिए थे, लेकिन इसके बाद उन्हें न फ्लैट दिया गया और न रुपए लौटाए गए। इसके बाद उन्होंने इसकी शिकायत पुलिस को दी। लेकिन केस दर्ज नहीं किया गया।

परेशान होकर आखिर में उन्होंने कोर्ट में इस्तगासा डाला। अदालत के आदेश पर पुलिस ने दोनों के खिलाफ केस दर्ज कर लिया है।

http://epaper.bhaskar.com/cph/Details.a ... 6302846718
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HIGH COURT ORDERS DTD 02-06-2011 AGAINST TRIVENI

Postby aroraanil92@gmail.com » Sat Jun 11, 2011 12:38 pm

IN THE HIGH COURT OF DELHI AT NEW DELHI
10.
CO.PET. 39/2009

DINESH MITTAL and ORS. ..... Petitioners
Through Mr. K. Datta with Mr. Diggaj
Pathak, Advocates.
Ms. Shilpi Chowdhary and
Ms. Kanika Sharma, Advocates.

versus

M/S TRIVENI INFRASTRUCTURE
DEVELOPMENT CO. LTD. ..... Respondent

Through Mr. S.B. Gautam, Official
Liquidator.

Mr. A.N. Haksar, Senior Advocate with Mr. Udayan Jain, Advocate as Amicus
Curiae.


CO.PET. 39/2009, 333/2010, 8/2011
Page 1 of 7



Mr. Soumitra G. Chaudhuri, Advocate for Applicant in CA 1010/2011.
Mr. Jawahar Goyal, Advocate for Claimants.
Mr. C.S. Chauhan, Advocate for Claimants.
Ms. Suruchii Aggarwal, Advocate for Applicant in CA 1041/2011.
11.
CO.PET. 333/2010

SH. SAMEER SHARMA ..... Petitioner
Through Mr. Sarat Chandra, Advocate.
Mr. Harish Sharma with Mr. B.K.
Saini, Advocates.

versus

M/S TRIVENI INFRASTRUCTURE
DEVELOPMENT CO LTD. ..... Respondent
Through Mr. S.B. Gautam, Official
Liquidator.


CO.PET. 39/2009, 333/2010, 8/2011
Page 2 of 7

Mr. Saran Suri with Mr. Rohan, Advocates for Oriental Bank of Commerce.
Mr. Jawahar Goyal, Advocate for Claimants.
Mr. C.S. Chauhan, Advocate for Claimants.

AND
12.
CO.PET. 8/2011

S.P. AGARWAL ..... Petitioner
Through Mr. M. Dutta, Advocate

versus

M/S TRIVENI INFRASTRUCTURE
DEVELOPMENT COMPANY ..... Respondent
Through Mr. S.B. Gautam, Official
Liquidator.

Mr. Vinod Gandhi, Inspector (EOW).


Mr. Vishnu Mehra with Ms. Sakshi Gupta, Advocates and Mr. Prem Babu
Gupta, Chief Manager, State Bank of Bikaner.
Mr. Rajat Aneja, Advocate for Investors.
Mr. Saran Suri with Mr. Rohan, Advocates for Oriental Bank of Commerce.
CO.PET. 39/2009, 333/2010, 8/2011
Page 3 of 7

Mr. Jawahar Goyal, Advocate for Claimants.
Mr. C.S. Chauhan, Advocate for Claimants.
CORAM:
HON'BLE MR. JUSTICE MANMOHAN

O R D E R
02.06.2011

CO. APPL. 239/2011 IN CO. PET. 39/2009
with a clarification that the monitoring Committee constituted by this
Court vide order dated 13th May, 2011 comprising of Mr. Justice Anil Dev
Singh, retired Chief Justice of Rajasthan High Court and
Mr. Justice P.K. Bahri, a retired Judge of this Court is permitted to
function jointly and/or severally as they deem just and proper. Needless
to say that this order has been passed to expedite the entire process and
to achieve the object for which the Committee has been constituted.


CO. APPL. 1031/2011 IN CO. PET. 39/2009

This is an application filed by the Income Tax Department.
Issue notice.
Learned counsel for opposite parties accept notice. They pray for
and are granted four weeks time to file reply affidavit. Rejoinder, if
any, be filed before the next date of hearing.
CO. PET. 39/2009

CO. PET. 333/2010 and CO. APPL. 863/2011
CO. PET. 8/2011

Today in Court, the Official Liquidator has handed over a status
report. The same is taken on record. However, despite publication of
advertisement in ?Times of India? (English) and ?Dainik Jagran? (Hindi)
no bid has been received for sale of Ghaziabad property of respondent-
company.


CO.PET. 39/2009, 333/2010, 8/2011
Page 6 of 7

With consent of parties, it has been decided to make one more
attempt to sell the aforesaid property by auction. The only change to be
made is that the reserved price shall be reduced from ` 29.75 Crores to `
23 Crores.
The earnest money deposit shall stand correspondingly
reduced. Let the advertisement be published in newspapers, namely,
?Hindustan Times? (English) and ?Amar Ujala? (Hindi). The draft sale
notice shall be prepared by the Official Liquidator and same shall be
handed over to Mr. Alok Aggarwal, learned counsel for respondent-company
for publication.
It is further directed that the bids shall be opened before this
Court on 13th July, 2011 at 2.15 p.m.
List on 13th July, 2011 at 2.15 p.m.

MANMOHAN,J
JUNE 02, 2011
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Re: Legal Case against Triveni Infrastructure Builders, Faridabad

Postby SANJAYE GOYAL » Fri Jul 08, 2011 8:47 pm

Dear Friends, Triveni starting going on right track as we got good decision from High court. As i mentioned earlier, committee is set up for two senior retired judges who will be responsible to complete the construction. They have also written to us that one of Govt. appointed Director will be available in office on Wed. OR Friday for meeting with investors. This is also a good sign. I am in Africa otherwise i should have taken this initiative. I would suggest followings : 1. we all Triveni members get together and show our strength to committee. 2. We should meet with committee atlest once in a month to understand progress against fix agenda. We should support committee for completing of construction. If we all still will not be active, our investment may be a problem. My email id- sanjayegoyal@yahoo.com ----- Sanjaye Goyal
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Re: Legal Case against Triveni Infrastructure Builders, Faridabad

Postby Ajju » Sun Jul 10, 2011 7:04 pm

Why do'nt we fix a time to meet at their office on Wednesday or Friday.
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Re: Legal Case against Triveni Infrastructure Builders, Faridabad

Postby shails98@hotmail.com » Wed Jul 20, 2011 2:10 am

PLease let me know if you members plan to visit the committe together in Triveni office. I can plan to send my sis or brother to represent me. thanks Shailja
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TRIVENI"s REWARI & DHARUHERA LAND PUT ON VALUATION BY H COURT

Postby aroraanil92@gmail.com » Sun Jul 31, 2011 12:05 pm

SOON REWARI AND DHARUHERA LAND WILL BE PUT ON SALE AFTER VALUATION.

TRIVENI"s GHAZIABAD (DASNA) LAND ALREADY SOLD OFF THROUGH HIGH COURT.


IN THE HIGH COURT OF DELHI AT NEW DELHI
18.



CO.PET. 39/2009 and CO. APPLs. 1031/2011 and 1413/2011

DINESH MITTAL and ORS. ..... Petitioners
Through Mr. K. Datta, Advocate with
Mr. Diggaj Pathak and Mr. Manish
Srivastava, Advocates.


versus

M/S TRIVENI INFRASTRUCTURE
DEVELOPMENT CO. LTD. ..... Respondent
Through Dr. Abhishek Manu Singhvi, Senior Advocate with Mr.
Amit Sibal,
Mr. S.S. Chhabra and Mr. Alok K. Aggarwal, Advocates
for respondent company.
Mr. Ashish Makhija, Advocate with Mr. Inderjeet Singh,
Advocate for Official Liquidator.
Mr. A.N. Haksar, Senior Advocate with Mr. Udayan Jain, Advocate as Amicus
Curiae.
Mr. Rajiv Bahl, Advocate, Nominee Director appointed by Court.
Mr. Rajesh Mahajan, ASC for Mr. Pawan Sharma, Standing Counsel for State
with Mr. Vinod Gandhi, Inspector (EOW).
Mr. Sanjeev Sabharwal, Standing Counsel for Income Tax Dept./ Applicant
in CA 1031/2011.
Mr. Vishnu Mehra with Mr. R.L. Kadamb, Advocates for SBBJ.
Mr. Rohit Nagpal, Advocate for Mr. Nitin Garg, one of the Investors.
Mr. Gunjan Kumar, Advocate for Mr. Saran Suri, Advocate for Oriental
Bank of Commerce.
Mr. Shilpi Choudhary, Advocate for SICOM.

AND

19.
CO.PET. 333/2010 and CO. APPL. 863/2011

SH. SAMEER SHARMA
and ORS. ..... Petitioners
Through Mr. Sarat Chandra, Advocate.
Mr. B.K. Saini with Mr. Harish Sharma, Advocates for
Petitioner Nos. 2, 3, 4 and 5.


versus

M/S TRIVENI INFRASTRUCTURE
DEVELOPMENT CO LTD. ..... Respondent
Through Dr. Abhishek Manu Singhvi, Senior Advocate with Mr.
Amit Sibal, Mr. S.S. Chhabra and Mr. Alok K. Aggarwal,
Advocates for respondent company.
Mr. Ashish Makhija, Advocate with Mr. Inderjeet Singh,
Advocate for Official Liquidator.
Mr. A.N. Haksar, Senior Advocate with Mr. Udayan Jain, Advocate as Amicus
Curiae.
Mr. Rajiv Bahl, Advocate, Nominee Director appointed by Court.
Mr. Rajesh Mahajan, ASC for Mr. Pawan Sharma, Standing Counsel for State
with Mr. Vinod Gandhi, Inspector (EOW).


Mr. Sanjeev Sabharwal, Standing Counsel for Income Tax Dept. Applicant
in CA 1031/2011.
Mr. Vishnu Mehra with Mr. R.L. Kadamb, Advocates for SBBJ.
Mr. Sharat Chandra with Mr. B.K. Saini, Mr. Harish Sharma, Advocates for
Applicant in CA 1123/2011.


AND

20.
CO.PET. 8/2011 and CO. APPL. 1456/2011

S.P. AGARWAL and ORS. ..... Petitioners
Through Mr. Inderjeet Singh, Advocate.


versus

M/S TRIVENI INFRASTRUCTURE
DEVELOPMENT COMPANY ..... Respondent
Through Dr. Abhishek Manu Singhvi, Senior Advocate with Mr.
Amit Sibal, Mr. S.S. Chhabra and Mr. Alok K. Aggarwal, Advocates
for respondent company.
Mr. Ashish Makhija, Advocate with Mr. Inderjeet Singh,
Advocate for Official Liquidator.
Mr. A.N. Haksar, Senior Advocate with Mr. Udayan Jain, Advocate as Amicus
Curiae.
Mr. Rajiv Bahl, Advocate, Nominee Director appointed by Court.
Mr. Rajesh Mahajan, ASC for Mr. Pawan Sharma, Standing Counsel for State
with Mr. Vinod Gandhi, Inspector (EOW).
Mr. Sanjeev Sabharwal, Standing Counsel for Income Tax Dept. Applicant
in CA 1031/2011.
Mr. Vishnu Mehra with Mr. R.L. Kadamb, Advocates for SBBJ.
Mr. C.S. Chauhan, Advocate for Claimants.


CORAM:
HON'BLE MR. JUSTICE MANMOHAN

O R D E R
28.07.2011

Dr. Abhishek Manu Singhvi, learned senior counsel for respondent company
prays for time to file a comprehensive affidavit in compliance with the
orders dated 27th July, 2011 and 13th May, 2011.
List the matter on 24th August, 2011 at 2:15 p.m.

In the meantime, the Official Liquidator and ITCOT Consultancy and
Services Ltd. are directed to proceed ahead with the valuation with
regard to the respondent?s land at Rewari and Dharuhera in Haryana.

MANMOHAN,J

JULY 28, 2011

REGARDS

ANIL ARORA
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Re: Legal Case against Triveni Infrastructure Builders, Faridabad

Postby dheerajjain » Wed Aug 03, 2011 6:24 am

Triveni group represented by Congress National Spokesperson "Dr. Abhishek Manu Singhvi, Senior Advocate". It exposes Congress and brings the fact that Congress is in nexus with wicked deeds of builders and torture honest tax paying middle class citizens that dream of home to live in.
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