Bombay High Court
Georg Fischer Piping Systems Private ... vs Seya Industries Limited on 21 February, 2024
Author: Abhay Ahuja
Bench: Abhay Ahuja
1 940 ial 15856-23 in exa 14-23-os.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L) NO.15856 OF 2023
IN
EXECUTION APPLICATION NO.14 OF 2023
Georg Fischer Piping Systems
Private Limited ... Applicant
Vs.
Seya Industries Limited ... Respondent/Judgment Debtor
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Ms. Srushti Mandade i/by M/s SSB Legal and Advisory, Advocate for the
Applicant.
None for the Respondent/Judgment Debtor.
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CORAM : ABHAY AHUJA, J.
DATE : 21 FEBRUARY, 2024. P.C. :
1. This Interim Application is filed for execution of award dated 28 th March, 2018 for an amount of Rs.96,78,869/- which includes Rs.55,43,774/- as principal amount alongwith Rs. 21,92,601/- as interest at the rate of 12% from 11th December, 2014 till the date of the award viz. 28th March, 2018 with further interest at the rate of 15% p.a. from the date of the award till filing of the execution application and Rs.7,72,500/- towards cost awarded by the Arbitrator with further interest Priya R. Soparkar 1 of 3 ::: Uploaded on - 21/02/2024 ::: Downloaded on - 07/03/2024 10:59:54 ::: 2 940 ial 15856-23 in exa 14-23-os.doc at the rate of 15% p.a. from the date of filing of the execution application till payment and/or realization.
2. Ms. Srushti Mandade, learned counsel appears for the Applicant and submits that no payment has been made under the said award till date. That although this application was attempted to be served upon the Judgment Debtor, the packet has been returned with the remark "refused". Learned counsel seeks to file an affidavit of service in this regard. Registry to accept the affidavit of service. Learned counsel therefore, submits that this Court direct the Judgment Debtor to disclose the assets including bank accounts and also restrain the Judgment Debtor from alienating its assets.
3. Having heard the learned counsel and having perused the application, the following order is passed :
(i) Let the Respondent/Judgment Debtor disclose on oath within a period of four weeks and with complete details all (movable and immovable) assets including bank accounts belonging to the Judgment Debtor by way of an affidavit under Order XXI Rule 41 of the Code of Civil Procedure, 1908.
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(ii) List on 20th March, 2024.
(iii) In the meanwhile, till the next date, the Judgment Debtor, its
Directors, Officers, Agents are restrained from creating any third party interest and/or alienating, encumbering, disposing of or creating any third party rights, interest in the assets (movable and immovable) owned or possessed by the Judgment Debtor.
(iv) Let the Advocate for the Applicant intimate the Judgment Debtor of this order.
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