Bombay High Court
Heena Patel And 2 Ors vs Blacksoil Capital Pvt. Ltd on 10 February, 2021
Bench: S.C. Gupte, Surendra Pandharinath Tavade
Digitally signed by
Smita Smita Gonsalves
Gonsalves Date: 2021.02.11
18:00:27 +0530
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMMERCIAL APPEAL (L) NO.3300 OF 2021
WITH
INTERIM APPLICATION (L) NO.3632 OF 2021
IN
COMMERCIAL APPEAL (L) NO.3300 OF 2021
Heena Patel & Ors. ..Applicants
In the matter between
Heena Patel & Others ..Appellants/
Orig. Judgment Debtors/
Orig. Defendants
v/s.
Blacksoil Capital Private Limited ..Respondent/
Orig. Applicant/Orig. Plaintiff No.2
....
Mr. Chetan Kapadia, Senior Advocate, a/w. Mr. P.A. Kabadi and Ms. Taruna
Nagpal, i/b. DSK Legal, for the Appellants/Applicants.
Mr. Venkatesh Dhond, Senior Advocate, a/w. Mr. Shanay Shah, Mr. Bhavik
Mehta, Ms. Shivangi Agarwal and Ms. Prakruti Joshi, i/b. Dhruve Liladhar
& Co., for the Respondent/Original Plaintiff in suit (Blacksoil).
Mr. D.N. Kher, Court Receiver present.
....
CORAM: S.C. GUPTE &
SURENDRA P. TAVADE, JJ.
DATE : 10 FEBRUARY, 2021.
P.C:-
. This commercial appeal challenges an order passed by a
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learned Single Judge of this Court on an interim application in
commercial execution. The original suit filed by the applicant of that
interim application (original plaintiff no.2) was decreed in terms of
consent terms. The consent terms inter alia required the Appellants
herein (original defendant nos. 2 and 3) to pay to plaintiff no.1 an
aggregate sum of Rs.100 crores towards full and final settlements of all
claims of the plaintiff against the defendants. Out of this amount, a sum
of Rs.60 crores was to come by way of cheque/demand draft/electronic
bank transfer on or before 30 October 2020, whereas the balance amount
of Rs.40 crores was to come by way of transfer of saleable area of about
25,000 sq.ft. described in the schedule to the consent terms. The consent
terms further provided for their execution as a decree of this Court inter
alia by transfer or assignment of the property named therein in the event
of failure on the part of defendant nos. 2 and 3 to pay or satisfy the
settlement amount on or before 30 October 2020. Admittedly, the
defendants failed to satisfy the settlement amount on or before the
stipulated date. That led the original plaintiff to apply for execution. The
learned Judge, in his impugned order, has noted that the execution
application had since been processed and a warrant of attachment had
been lodged, but was yet to be issued. In the premises, without stating
any further reasons, the learned Single Judge appointed a Court Receiver
for the property described in the schedule to the consent terms ordering
him to take symbolic possession of the property. This order is impugned
in the present commercial appeal inter alia on the ground that there was
no warrant for appointing a Receiver and make over symbolic possession
of the property to the Receiver.
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2. After the matter is heard at some length, learned Counsel for
the Respondent Judgment Creditor agrees to have the order of
appointment of Receiver vacated in case attachment warrants are
expeditiously issued and executed by the Sheriff's office.
3. In our view, in a matter such as this, which must go by the
ordinary rule of execution, it is in the interest of justice to have the
warrant of attachment issued and executed expeditiously. Temporary
injunction order passed by the executing Court, which operates in the
meantime, adequately protects the interests of the Judgment Creditor.
4. Accordingly, we dispose of the present commercial appeal in
the following terms:
(i) Prothonotary & Senior Master shall cause an attachment
warrant to be issued in respect of the property described in
the first schedule to the consent terms dated 3 February 2020
not later than one week from today;
(ii) Immediately upon the warrant of attachment being issued,
the Sheriff's office will execute it within a period of two
weeks of issuance of the warrant;
(iii) In the meantime, the temporary injunction order issued by
the executing court shall continue to operate;
(iv) Having regard to the present order, the impugned order
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appointing Court Receiver and making over symbolic
possession of the property to him stands vacated;
(v) The commercial appeal is disposed of in the above terms;
(vi) In view of the disposal of the commercial appeal, the interim
application taken out therein does not survive and is also
disposed of.
(SURENDRA P. TAVADE, J.) (S.C. GUPTE, J.)
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