Bank Of India (Sarm) vs M/S. Soma Papers And Industries ...
2016 Latest Caselaw 6817 Bom

                                              wp.5139.2014.dated.22.11.2016.evening .doc

dik




                                                                                
            IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                             CIVIL APPELLATE JURISDICTION




                                                        
                          WRIT PETITION NO.5139 OF 2014
                                      IN
                              APPEAL NO.79 OF 2008
                                      IN




                                                       
                     SECURITISATION APPLICATION NO.17 OF 2007

      Bank of India (SARM)                               ]
      Specialized Assets Recovery Management             ]
      Branch, having their address at 1st floor,         ]




                                          
      Bank of India Building 70/80 M.G.Road,             ]
      Fort, Mumbai 400 023 and having their
                                    ig                   ]
      Head Office at Star House, 05 G-Block,             ]
      Bandra Kurla Complex Bandra (East)                 ]
      Mumbai 400 051                                     ]       ...Petitioner
                                  
            vs
      1     Soma Papers & Industries Ltd.                ]
            

            a company incorporated under the             ]
            Companies Act, 1956 having its office at     ]
         



            Indian Mercantile Chambers, 3rd Floor, 14    ]
            R. Kamani Marg, Ballard Estate Mumbai        ]
            400 038 through their Executive Director     ]
            Shri. Bapat Somani                           ]





      2     Union Bank of India                          ]
            having their address at                      ]
            Mumbai Samachar Marg Branch, 56/80,          ]
            M.S.Marg, Mumbai 400 023                     ]





      3     Corporation Bank                             ]
            having their address at                      ]
            Indian Finance Branch, Bharat House,         ]
            Shahid Bhagat Singh Road, Fort, Mumbai       ]
            400 001                                      ]

      4     Dena Bank                                    ]
            having their address at                      ]
            Indian Main Branch, Horniman Circle          ]
            Mumbai 400 023                               ]

                                                                              Pg 1 of 3



          ::: Uploaded on - 30/11/2016                  ::: Downloaded on - 01/12/2016 00:50:14 :::
                                                   wp.5139.2014.dated.22.11.2016.evening .doc




                                                                                   
    5     M/s I.B.Enterprises                               ]
          represented by Shri Munnabhai having              ]
          their address at Malhotra House, 2nd Floor        ]




                                                           
          Opp. General Post Office Mumbai 400 001           ]

    6     M/s Eskays Construction Pvt. Ltd.                 ]
          a company incorporated under the                  ]




                                                          
          the Companies Act,1956, having its                ]
          address at 161/B, Mittal Tower, Nariman           ]
          Point Mumbai 400 021                              ]       ...Respondents.

                                          .....




                                           
    Mr O.A.Das for the Petitioner.
                                 
    Mr. Prasad K. Dhakephalkar, Sr. Counsel a/w Mr Sanjay Jain,
    Ms Rashida F. Savliwala & Mr Ritvik Mavkin i/b M/s Dhruve
    Liladhar & Co. for Respondent No.6.
                                
    Ms Jyotsna Vyas i/b Mr O.P.Pandya for Respondent No.1.

    Ms Tejasvi Dalvi for Respondent No.2.
          


                                          .....
       



                                       CORAM : S. C. DHARMADHIKARI &
                                               B.P.COLABAWALLA, JJ.





                           RESERVED ON     : 21st SEPTEMBER, 2016.
                           PRONOUNCED ON : 30th NOVEMBER, 2016.


    JUDGMENT (Per B.P.Colabawalla J):

Rule. Respondents waive service. By consent of parties, Rule is made returnable forthwith and heard finally.

2 This Writ Petition has been filed by the Bank of India challenging the final order passed by the DRAT dated 7 Pg 2 of 3

wp.5139.2014.dated.22.11.2016.evening .doc

January, 2014. In the companion Petition filed by Respondent

No.6 herein (Writ Petition No.1315 of 2014) decided by us today

(30th November, 2016), we have set aside this order of the DRAT dated 7 January, 2014. For the reasons set out in our judgment in Writ Petition No.1315 of 2014, this Writ Petition

also succeeds and is granted in terms of prayer clause (a). The order dated 7 January, 2014 passed by the DRAT in Appeal No. 79 of 2008 is hereby set aside. Rule is made absolute in the

aforesaid terms. However, there shall be no order as to costs.

( B.P.COLABAWALLA J. ) ( S.C.DHARMADHIKARI J )

Pg 3 of 3