Punjab National Bank ... vs Atul Jain And 5 Ors
2021 Latest Caselaw 7429 Bom

                                                                 7-ia-789-2021.doc

jsn

                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                   ORDINARY ORIGINAL CIVIL JURISDICTION
                        IN ITS COMMERCIAL DIVISION
                    INTERIM APPLICATION NO.789 OF 2021
                                    IN
                  EXECUTION APPLICATION (L) NO.736 OF 2020

       Punjab National Bank (International)                  ...Applicant
       Ltd.
            In the matter between
       Punjab National Bank (International)                  ...Decree Holder
       Ltd.

               Versus

       Mr. Atul Jain and Ors.                                ...Respondents
                                          ----------
       Mr. Vivek Kapoor i/b. M/s. M.T. Miskita and Company for
       Applicant / Decree Holder.
       Mr. Venkatesh Dhond, Senior Counsel, Mr. Rohan Kadam, Mr.
       Ashraf Diamondwala i/b. Diamondwala & Co. for the
       Respondent Nos.1, 2 and 6.
       Mr. Jaswant Khatodiya for Respondent Nos.3,4 and 5.
                                          ----------

                                          CORAM :        R.I. CHAGLA J.
                                          DATE :         7TH MAY, 2021.
                                                         (V.C.)
       ORDER :

1. Heard learned Counsel for parties.

2. The learned Senior Counsel appearing for the

Respondents has submitted that the Interim Application has

been heard from time to time by the executing Court and there

7-ia-789-2021.doc

is no urgency for passing any ad-interim order today.

3. The learned Counsel appearing for the Applicant has

sought an injunction restraining the Judgment Debtor /

Respondents by themselves and / or their servants and / or

agents from disposing off, selling, transferring, alienating,

encumbering, parting with possession of any of their assets,

properties or funds. He has submitted that the urgency in the

matter is due to the high risk of dissipation of assets by the

Respondents with a view to render ineffective any future

decision of this Court.

4. In view of the fact that the matter is being heard on the

last date before vacation and only utmost urgent matters can

be heard, coupled with fact that the Interim Application has

been heard from time to time by the executing Court, there is

no such urgency to pass an ad-interim order at this stage.

5. The Interim Application is accordingly adjourned to 10th

June, 2021.

[R.I. CHAGLA J.]