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Indian Express
12-05-2025
- Politics
- Indian Express
Delhi HC postpones Madrasi Camp demolition to June 1, says need to relocate its residents before monsoon
The Delhi High Court has postponed the demolition of the unauthorised Madrasi Camp — a jhuggi-jhopdi (JJ) cluster located on the Barapullah drain bank near Jangpura — to June 1, nearly three weeks after the scheduled date of May 10. The authorities had issued a demolition notice to the squatters to remove encroachments and unauthorised construction on the Barapullah drain to de-clog it. A bench of Justices Prathiba Singh and Manmeet Pritam Singh Arora was hearing a bunch of applications filed by Madrasi Camp dwellers, seeking the court's intervention in their relocation to Narela. The court said that the relocation of Madrasi Camp residents is of 'utmost urgency and significance, particularly in light of the approaching monsoon season'. It also maintained that while the 'clearance of Barapullah drain was imperative to prevent waterlogging during monsoon', the 'rehabilitation of Madrasi Camp dwellers is also essential for the de-clogging of the Barapullah drain'. Of the 370 jhuggis in Madrasi Camp, residents of 189 have been found eligible for rehabilitation under the Delhi Slum and Jhuggi Jhopri Rehabilitation and Relocation Policy, 2015. Set to be rehabilitated to Narela, the residents had highlighted before the court that the flats where they would stay lacked basic amenities. While noting that the 'demolition ought to be done in a systematic manner', the HC directed the authorities — Delhi Development Authority (DDA), Municipal Corporation of Delhi, Delhi Urban Shelter Improve-ment Board (DUSIB), Public Works Department and Government of National Capital Territory of Delhi — to hold two camps between May 10 and 12. While the first camp 'would be for handing over possession letters of the Narela flats', the second 'shall be for the purpose for sanctioning loans, if required'. '… the representatives of banks shall be duly present at the camps so that if any of the dwellers wish to avail of loan facilities, it can be arranged without inconvenience,' the HC directed. The court also directed DDA and DUSIB to ensure that the amenities are made available at the flats in Narela by May 20. After May 20, the bench directed, the Madrasi Camp dwellers 'shall start moving their belongings to the respective flats allotted to them in Narela' and if any of the residents choose not to take possession letters or avail of loan facilities, 'no further opportunity shall be granted to them for seeking allotment of the flats at Narela or any rehabilitation camps'. The court has given the dwellers time between May 20 and 31 to shift out of Madrasi Camp, following which, demolition shall begin from June 1.
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Business Standard
09-05-2025
- Automotive
- Business Standard
Delhi HC orders seizure of another 129 EVs tied to Gensol and BluSmart loan
The Delhi High Court on Thursday ordered the seizure and relocation of 129 electric vehicles (EVs) hypothecated by Gensol Engineering and ride-hailing startup BluSmart to lender STCI Finance. Hypothecation refers to using an asset, like a car or stock, as collateral for a loan without transferring ownership or possession to the lender. STCI alleged Gensol and BluSmart had defaulted on a ₹15 crore loan and were seeking to unlawfully dispose of the vehicles. The application, filed by STCI, under Section 12A of the Commercial Courts Act, 2015, sought exemption from instituting preinstitution mediation. Justice Manmeet Pritam Singh Arora, in her order dated May 8, barred Gensol and BluSmart from creating any third-party rights over the vehicles. Citing an urgent risk of asset dissipation, the court-appointed receivers took custody of the vehicles and authorised them to arrange for their maintenance and charging. 'Further the balance of convenience also lies in favour of the plaintiff (STCI) considering that the plaintiff may suffer loss if the possession of the vehicles is not secured and the defendant no.1(Gensol) goes on to dispose of the said vehicles in favour of third parties,' the order said. Gensol had obtained a ₹15 crore equipment term loan from STCI under a loan facility agreement on October 19, 2023 to acquire the 129 vehicles. The loan was secured through a hypothecation deed and personal guarantees from promoter brothers Puneet and Anmol Singh Jaggi. This is the fifth such petition in under two weeks seeking to restrain Gensol and BluSmart from creating third-party rights over its EVs. As of now, the court has restricted them from creating third-party rights over 619 EVs.
Mint
09-05-2025
- Business
- Mint
Delhi HC orders seizure of 129 EVs leased by Gensol, BluSmart
The Delhi high court has ordered the seizure and relocation of 129 electric vehicles leased by Gensol Engineering and ride-hailing startup BluSmart, acting on a petition by lender STCI Finance. The lender alleged that the companies had defaulted on a ₹ 15 crore equipment loan and were attempting to unlawfully dispose of the financed assets. Justice Manmeet Pritam Singh Arora, in her order on Thursday, 8 May, barred Gensol and BluSmart from creating any third-party rights over the vehicles. Citing an urgent risk of asset dissipation, the court appointed receivers to take custody of the vehicles and authorized them to arrange for their maintenance and charging to prevent deterioration. The court also directed ICICI Bank to maintain status quo on a fixed deposit of ₹ 40.62 lakh. The STCI Finance has stated that Gensol created a fixed deposit of ₹ 40.62 lakh with ICICI Bank, and this amount was pledged as security for the loan. The vehicles were financed under a loan agreement dated 19 October 2023. According to STCI Finance, funds were disbursed directly to vendors, after which Gensol leased the vehicles to BluSmart—a related party that has since ceased operations. Following loan defaults and a credit downgrade, STCI recalled the loan on 29 April 2025 and is now seeking to recover ₹ 11.25 crore. The court also took note of findings by the Securities and Exchange Board of India (Sebi), which alleged that Gensol's promoters had diverted company funds and treated the listed entity as a proprietary concern, in violation of corporate governance norms. Thursday's ruling is the fourth in a series of court orders passed by the high court in under two weeks, offering judicial protection to a growing fleet of leased electric vehicles allegedly at risk. Just a day earlier, on 7 May, the court barred Gensol, BluSmart, and their promoters from creating third-party rights over 220 additional EVs leased from two separate lessors—SMAS Auto Leasing India Pvt. Ltd and Shefasteq OPC Pvt. Ltd. Both lessors have accused the companies of breaching lease agreements and defaulting on payments. On 25 April, the court restrained Gensol and BluSmart from alienating 175 EVs leased by Japanese financial services firm Orix. This was followed by another order on 29 April, barring BluSmart from transferring or selling 95 EVs leased from Clime Finance Pvt. Ltd. With the latest directive, a total of 622 leased electric vehicles are now under judicial protection, with the court expressly prohibiting their sale, transfer, or assignment to third parties. The mounting legal troubles come amid growing regulatory scrutiny. Sebi recently issued a show-cause notice to Gensol and its promoters for alleged corporate governance violations, including undisclosed related-party transactions and financial irregularities. The regulator has also barred the company's promoters—brothers Puneet Singh Jaggi and Anmol Singh Jaggi—from holding key managerial positions in any listed company, and restricted both Gensol and its promoters from accessing capital markets. Meanwhile, Gensol faces investigations over the alleged misuse of approximately ₹ 978 crore in loans disbursed by Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (Ireda) for the purchase of 6,400 EVs. Company disclosures indicate that only 4,704 vehicles were procured. PFC has filed a complaint with the Economic Offences Wing of the Delhi Police, alleging that forged documents were used to secure the loans. Ireda, which financed 3,400 EVs, may be short over 1,400 vehicles based on current filings. As previously reported by Mint, PFC is exploring multiple legal options, including insolvency proceedings and debt recovery tribunal filings, to recover its dues.
Deccan Herald
24-04-2025
- Politics
- Deccan Herald
Defamation case: Delhi High Court orders attachment of TMC MP Saket Gokhale salary
Justice Manmeet Pritam Singh Arora observed Gokhale was previously directed to apologise to the former assistant secretary general of the United Nations and pay her Rs 50 lakh in damages.
