Bharat Udyog Limited And Anr vs Maharashtra Industrial ...
2021 Latest Caselaw 1884 Bom

                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                    ORDINARY ORIGINAL CIVIL JURISDICTION
                  INTERIM APPLICATION (L) NO. 1569 OF 2021
                                      IN
         COMMERCIAL EXECUTION APPLICATION NO. 1231 OF 2018


Bharat Udyog Limited and Anr.                 ...    Decree Holders
          Vs.
MIDC                                          ...    Judgment Debtor
           and
Kotak Mahindra Bank Ltd.                      ...    Respondent



Mr. Gautam Ankhad a/w. Mr. Nikhil Patil i/b. Mr. Prabhakar M. Jadhav
for the Applicant - Decree Holder.
Ms. Shyamali Gadre a/w. Ms. Tanvi Doshi i/b. M/s. Little & Co. for
Judgment Debtor.
Mr. Ashish Kamat a/w. Mr. Nikhil Rajani i/b. M/s. V. Deshpande & Co.
for the Respondent - Kotak Mahindra Bank Ltd.


                                        CORAM : A. K. MENON, J.

DATED : 28th JANUARY, 2021.

P.C. :

1, On 21st January, 2021 the Prothonotary and Senior Master was to

ascertain the balance due in the fixed deposit account with up-to- date

interest in order to enable this Court to permit release of sum of

Rs.18,40,05,000/- along with 4% interest from 4 th December, 2020.

The amount today is said to be Rs.18,47,05,000/-.

4-IAL-1569-2021-COMEX-1231-2018.doc rrpillai

2. The Prothonotary and Senior Master has since filed a report

which indicates that the amount as on 27 th January, 2021 is

Rs.25,15,40,665/-. In view thereof Mr. Ankhad tenders draft

amendment in terms of prayer clause (a) in the interim application. In

view of the fact that the amount is to be paid directly to respondent-

bank in the interim application, I pass the following order :

(i) Leave granted to amend interim application in terms of draft

handed in marked "X" for identification.

(ii) Upon amendment being carried out there will be an order by

consent of the applicant/decree holder and the respondent bank in

terms of prayer clause (a) as amended which reads as below :

(a) This Hon'ble Court be pleased to pass appropriate

orders/directions to the Ld. Prothonotary and Senior Master,

Bombay High Court for releasing amount of

Rs.18,47,05,000/- in favour of Kotak Mahindra Bank Limited

by crediting the same in their Bank Account No.

06410125272002, Branch - Nariman Point, IFS Code -

KKBK0000958 out of the amount deposited by MIDC in

Commercial Execution No. 1231 of 2018.

4-IAL-1569-2021-COMEX-1231-2018.doc rrpillai

(iii) Prothonotary and Senior Master to release the amount within one

week of amendment being carried out. Balance shall be retained in a

fixed deposit account for the remaining term and to be further renewed

till further orders of the Court.

(iv) Interim Application disposed in the above terms. No costs.

(A. K. MENON, J.)

Digitally signed by Rajeshwari R.

        Rajeshwari   Pillai
        R. Pillai    Date:
                     2021.01.29
                     11:51:13
                     +0530

4-IAL-1569-2021-COMEX-1231-2018.doc rrpillai