Ravin Energy Pvt Ltd vs Legend Global Studio Pvt Ltd
2021 Latest Caselaw 3528 Bom

Citation : 2021 Latest Caselaw 3528 Bom
Judgement Date : 24 February, 2021

Bombay High Court

Ravin Energy Pvt Ltd vs Legend Global Studio Pvt Ltd on 24 February, 2021

Bench: A. K. Menon

               IN THE HIGH COURT OF JUDICATURE AT BOMBAY

                    ORDINARY ORIGINAL CIVIL JURISDICTION

                  INTERIM APPLICATION (L) NO. 4112 OF 2021

                                            IN

     COMMERCIAL EXECUTION APPLICATION (L) NO. 4109 OF 2021



Ravin Energy Pvt. Ltd.                  ...        Applicant/Judgment Creditor


         vs.
Legend Global Studio Pvt. Ltd. ...             Respondent/Judgment Debtor



Ms. Krushi Barfiwala a/w. Ms. Rima Desai                   i/b. M/s. Parinam Law
Associates for the Applicant / Judgment Creditor.
Mr. Shravan Giri a/w. Mr. Praful Shukla and Mr. Vipin Shukla for the
Respondet/Judgment Debtor.


                                             CORAM : A. K. MENON, J.

                                             DATE        : 24th FEBRUARY, 2021.

P.C. :

1. The interim application is moved for urgent ad-interim relief in

view of the breach committed by respondent - judgment debtor in

complying with order dated 24 th November, 2020 whereby judgment

debtor was to pay a sum of Rs.1,13,52,727/- on or before 31 st January,

2021. It is stated now across the bar by applicant that a sum of Rs.70

21-IAL-4112-2021-COMEXL-4109-2021.doc rrpillai lakhs was paid on 17th February, 2021 and Rs. 30 lakhs was paid only

today 24th February, 2021. Thus the respondent has obviously failed to

comply with the dead line provided in paragraph 7 making them liable

to pay simple interest @ 15% on the entire amount of Rs.1,13,52,727/-

from 24th November, 2020.

2. On behalf of judgment debtor, some relaxation is sought in the

rate of interest. On behalf of the judgment creditor the learned counsel

is unwilling to grant any further concession. She submits that the

attachment of assets will have to be proceeded with. However, the

respondent has not disclosed any of their assets. The applicant has no

knowledge of the current assets and hence Ms. Barfiwala seeks ad-

interim relief in terms of prayer clause (a). In my view considering the

delay in payment, interest will have to be paid and can be recovered by

attaching and selling properties of the respondent. The applicant are

therefore entitled to relief. Accordingly I pass the following order :

(i) There will be ad-interim relief in terms of prayer clause (a) which

is reproduced below:

(a) That this Hon'ble Court may be pleased to direct the

Respondents to disclose on oath all their assets and properties,

moveable and immoveable, secured and unsecured, shares, stock

in trade, bank accounts, savings, financial investments, including

21-IAL-4112-2021-COMEXL-4109-2021.doc rrpillai but not limited to assets, bonds, govt securities, or otherwise

along with the names and addresses of such banks and such

other particulars, and other assets along with their last audited

balance sheets for the last three years / statements of income,

within the time limit prescribed by this Hon'ble Court;