Pravin Jain (Applicant) vs Advance Commercial Co. Ltd
2021 Latest Caselaw 13990 Bom

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


                                  INTERIM APPLICATION (L) NO.20683 OF 2021
                                                       IN
                         COMMERCIAL EXECUTION APPLICATION NO.1022 OF 2018
                                                       IN
                                         WRIT PETITION NO.922 OF 2018


                Pravin Jain                                  .. Applicant/Org.Respondent
                In the matter between
                Advance Commercial Company Limited           .. Petitioner
                         v/s.
                Pravin Jain                                  .. Respondent
                         And
                Learned Court Receiver                       .. Non-Party Respondent



                Mr. Karl Tamboly a/w Ms. Gauri Sakhardande i/b. Tushar Goradia for
                the applicant.

                Ms. Mamta Sadh a/w Kainaz Irani & Abhishek Bhaduri for the
                petitioner.
                Mr. R.Y.Sirsikar for MCGM.
                Ms. Rekha Rane, 2nd Asstt. to Court Reciever.


                                                        CORAM : A. K. MENON, J.

DATED : 28TH SEPTEMBER 2021.

Digitally signed by SANDHYA SANDHYA BHAGU BHAGU WADHWA

WADHWA Date:

2021.09.29 17:38:08 +0530

26.IAL-20683-21.doc wadhwa P.C. :

1. There is a valuation report of the property which has been filed

with the Court Receiver. The same shall be retained in a sealed

cover.

2. The request today on behalf of the judgment debtor that the fresh

valuation be conducted since when the valuation first was carried

out, the building was sealed standing on the plot which is the

potential of the plot in terms of constructive area.

3. The request is reasonable. Accordingly Mr. Tamboly on query

from the court states that his clients are ready to bare the costs of

the valuation. The Receiver shall accordingly direct the Valuer to

N.M. Shah & Associates who have carried out the valuation in

October 2019 to assess the potential of the plot in terms of the

carpet area and built-up area to be constructed subject to extent

provisions of law.

4. The Valuer shall accordingly make a report within a period of

four weeks from today. The costs and charges of the valuation

shall be estimated by the Valuer and make a report within one

week from the communication to this court.

5. The judgment debtor shall deposit such amounts as the Receiver

may call upon him to deposit amounts within one week of such

26.IAL-20683-21.doc wadhwa intimation.

6. Liberty to apply after fresh valuation is carried out.

7. The Receiver shall ensure that the valuation is provided with the

correct area of the plot as per order dated 11th March, 2021.

8. In that circumstances, no further steps towards sale shall be taken

without order of this court.

9. In view of the above, IA (L) no.20683 of 2021 is disposed in the

above terms and IA (L) no.6041 of 2021 is disposed being

infructuous.

(A. K. MENON, J.)

26.IAL-20683-21.doc wadhwa