Magma Fincorp Limited vs V V Roadlines And 3 Ors.And Tatak ...
2021 Latest Caselaw 15250 Bom

               IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                   ORDINARY ORIGINAL CIVIL JURISDICTION

    CHAMBER SUMMONS NO.585 OF 2018 IN EXECUTION APPLICATION (L) NO.1584 OF 2014
         CHAMBER SUMMONS NO.586 OF 2018 IN EXECUTION APPLICATION NO.945 OF 2015
         CHAMBER SUMMONS NO.592 OF 2018 IN EXECUTION APPLICATION NO.437 OF 2015
        CHAMBER SUMMONS NO.594 OF 2018 IN EXECUTION APPLICATION NO.1349 OF 2015
          CHAMBER SUMMONS NO.599 OF 2018 IN EXECUTION APPLICATION NO.7 OF 2016
        CHAMBER SUMMONS NO.606 OF 2018 IN EXECUTION APPLICATION NO.1413 OF 2015
         CHAMBER SUMMONS NO.653 OF 2018 IN EXECUTION APPLICATION NO.900 OF 2014
        CHAMBER SUMMONS NO.1160 OF 2018 IN EXECUTION APPLICATION NO.1459 OF 2016
        CHAMBER SUMMONS NO.1327 OF 2018 IN EXECUTION APPLICATION NO.1350 OF 2014
        CHAMBER SUMMONS NO.153 OF 2019 IN EXECUTION APPLICATION NO.2888 OF 2015
         CHAMBER SUMMONS NO.156 OF 2019 IN EXECUTION APPLICATION NO.564 OF 2014
        CHAMBER SUMMONS NO.160 OF 2019 IN EXECUTION APPLICATION NO.2900 OF 2015
        CHAMBER SUMMONS NO.162 OF 2019 IN EXECUTION APPLICATION NO.2163 OF 2016
        CHAMBER SUMMONS NO.163 OF 2019 IN EXECUTION APPLICATION NO.2894 OF 2015

Kotak Mahindra Bank Ltd.                                  .. Applicant-Prop. Claimant
In the matter between
Magma Fincorp Ltd.                                        .. Org. Claimant-Decree Holder
       Vs.
Planet Worldwide Pvt. Ltd. and Ors.                       .. Respondents-Judg. Debtors
Dynamic Yarns Pvt. Ltd. and Ors.                          .. Respondents-Judg. Debtors
Logic Transware India Pvt. Ltd. and Ors.                  .. Respondents-Judg. Debtors
V.V. Roadline and Ors.                                    .. Respondents-Judg. Debtors
JMD Pharma and Ors.                                       .. Respondents-Judg. Debtors
Sebastian Marshall D'Souza and Ors.                       .. Respondents-Judg. Debtors
Baba Mungipa Steel Industries Pvt. Ltd. and Ors.          .. Respondents-Judg. Debtors
Orchid Diamond Studio Pvt. Ltd. and Ors.                  .. Respondents-Judg. Debtors
Arya Diamond Jewellery (I) Pvt. Ltd. and Ors.             .. Respondents-Judg. Debtors
Ahan Apparel Pvt. Ltd. and Ors.                           .. Respondents-Judg. Debtors
Royal Belts and Ors.                                      .. Respondents-Judg. Debtors
Unibios Laboratories Ltd. and Ors.                        .. Respondents-Judg. Debtors
Trimurti Cargo Movers Pvt. Ltd. and Ors.                  .. Respondents-Judg. Debtors
Jewel Melange and Ors.                                    .. Respondents-Judg. Debtors




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13 to 26-CHS-585-2018-GROUP.doc
Dixit
                            Ms. Jyoti Sanap, i/by V. Deshpande & Co., for the Applicant-Proposed
                           Claimant.


                                                                          CORAM : A. K. MENON, J.

                                                                          DATE    : 25TH OCTOBER, 2021.

                           P.C. :

1. In these Chamber Summonses, the applicant-bank seeks to be

substituted in place of the original claimant-decree holder and proceed with

execution of numerous awards. It is stated that by a common Deed of

Assignment of Receivables dated 31 st March 2017, the applicant-bank has

taken over the receivables by way of assignment such that it is now entitled to

execute the awards against the respondents-judgment debtors.

2. In view of the above, I pass the following order :-

(i) Chamber Summonses are made absolute in terms of

prayer clauses (a) and (b).

(ii) Amendment to be carried out within a period of six

weeks from today.

(iii) All the above Chamber Summonses are disposed in the

above terms.

(A.K. MENON, J.)

13 to 26-CHS-585-2018-GROUP.doc Digitally signed SNEHA by SNEHA ABHAY DIXIT ABHAY Date:

DIXIT   2021.10.25
        16:48:16 +0530     Dixit