Nishant P. Bhojwani(Constituted ... vs Pravinchand Sehgal And 3 Ors
2021 Latest Caselaw 13484 Bom

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


                                    CONTEMPT PETITION (L) NO.20883 OF 2020
                                                          IN
                                         INTERIM APPLICATION NO.2701 OF 2020
                                                          IN
                          COMMERCIAL EXECUTION APPLICATION NO.565 OF 2018
                                                          IN
                                         SUMMONS FOR JUDGMENT NO.9 OF 2018
                                                          IN
                                 COMMERCIAL SUMMARY SUIT NO.855 OF 2018


                 Nishant P. Bhojwani
                 Constituted Attorney of
                 Parasram H. Bhojwani                            .. Applicant/Petitioner/
                                                                       Org.Judg.Creditor
                          v/s.
                 Pravinchand Sehgal & Ors.                 .. Respondents/Org. Judg.Debtors



                 Mr. Aniket Poojari & T.R. Yadav i/b. C.R. Naidu & Co. for the applicant.

                 Mr. Roopadaksha Basu a/w Ms. Harsha Asnani i/b. The Law Point for
                 respondent no.4.

                 Mr. Vaibhav Charalwar a/w Shantam Mandhyan i/b. Vidhii Partners for
                 the judgment debtor/respondent.

                 Ms. Kanchan Rane, 1st Asstt. to Court Receiver.

                                                           CORAM : A. K. MENON, J.

SANDHYA BHAGU WADHWA DATED : 20TH SEPTEMBER 2021.

Digitally signed by SANDHYA BHAGU

WADHWA Date: 2021.09.22 18:01:06 +0530

45.cpcdl-20883-21.doc wadhwa P.C. :

1. This is an application moved on behalf of the judgment debtors by

praecipe dated 15th September, 2021 seeking directions pursuant

to an order dated 24th August, 2021. The order required the

judgment debtor to deposit the original policy document

no.904605396 with the Prothonotary and Senior Master within

three weeks. It transpires that the policy had been submitted to

the Life Insurance Corporation of India which was in the process

of maturity value of the policy. The judgment debtor no.3

therefore seeks clarification that she is not now required to submit

the policy in court.

2. On behalf of the LIC, the learned cousnel appearing today states

that she has instructions to enter appearance and in the

meantime, the policy will also be deposited in court. The

Corporation has already been deposited Rs.61 lakhs being the

maturity value of the policy in compliance with order dated 24 th

August, 2021.

3. In view of the fact that the Corporation has already deposited the

maturity value with the Prothonotary and Senior Master, the

Corporation is excused from depositing the original policy since

45.cpcdl-20883-21.doc wadhwa that will be required for its record since the maturity value has

already been paid over.

4. Meanwhile, it transpires that the judgment creditor has filed the

above Contempt Petition in this court impleading the Senior

Branch Manager of LIC as respondent no.4. The prayers in the

Contempt Petition seek to hold respondent no.4 Corporation and

its Senior Branch Manager as having committed contempt of the

order dated 14th July, 2021 and 24th August, 202. This is in my

view is uncalled for.

5. The order dated 24th August, 2021 directed the judgment debtor

no.3 to deposit the policy in the Court. There was no order

against the LIC in that respect. The LIC was only directed to

deposit the maturity proceeds which they have promptly done in

accordance with order of this Court. There was no occasion to

file the Contempt Petition. Accordingly, I pass the following

order;

(i) LIC is relieved from further appearance in this matter.

(ii) Contempt Petition is dismissed.

(iii) Costs of Rs.20,000/-shall be paid by the petitioner judgment

creditor to the LIC within two weeks from today.

(iv) Contempt Petition is disposed as above.

45.cpcdl-20883-21.doc wadhwa

(v) In the meantime, the LIC shall inform the Prothonotary and

Senior Master and Advocates for the applicant of any other

policies standing in the name of the judgment debtors.

(A. K. MENON, J.)

45.cpcdl-20883-21.doc wadhwa