Lamba Exports Pvt. Ltd. Vs Dhir Global Industries Pvt. Ltd. And Ors. (Supreme Court of India)
The Supreme Court considered a Miscellaneous Application (MA) seeking recall of its earlier order dated 25.02.2025, by which a Special Leave Petition (SLP) had been dismissed. The SLP arose from a dispute relating to an Agreement to Sell dated 13.08.2021 concerning a property in Gurugram. The applicant had filed a civil suit seeking specific performance of the agreement along with related reliefs, alleging payment of amounts including earnest money and sums towards a proposed One Time Settlement (OTS) with a bank. The respondents disputed the enforceability of the agreement, stating that it was contingent on the bank’s approval of the OTS.
The trial court initially granted interim injunction restraining creation of third-party rights, but the appellate court set aside this order. The High Court upheld the appellate decision, holding that the agreement was contingent upon acceptance of the OTS by the bank, which was not a party to the agreement. It concluded that no prima facie case for interim relief existed and that, at most, the applicant could seek recovery of amounts paid rather than specific performance at that stage.
The SLP against the High Court’s decision was dismissed by the Supreme Court on 25.02.2025. Subsequently, the applicant filed the present MA seeking recall of that order based on alleged subsequent developments, including a proposal for OTS, its eventual approval, and withdrawal of the Corporate Insolvency Resolution Process (CIRP) under Section 12A of the Insolvency and Bankruptcy Code, 2016. The applicant also alleged suppression of material facts.
