Aditya Birla Finance Ltd vs M.V.Tag 7 And Arunava Raha (Rsp) ...
2022 Latest Caselaw 12950 Bom

                                                                                  18-ia-4565-2022.doc




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

                                      INTERIM APPLICATION NO.4565 OF 2022
                                                      IN
                                    COMMERCIAL ADMIRALTY SUIT NO.01 OF 2022

VISHAL                Aditya Birla Finance Limited                         ...Applicant/
SUBHASH                                                                       Plaintiff
PAREKAR                     vs.
Digitally signed by
VISHAL SUBHASH        M.V. TAG 7                                           ...Defendant
PAREKAR
Date: 2022.12.15
10:22:39 +0530
                      Ms. Shweta Sadanandan a/w. Mr. Vishal Sheth i/b. Bimal
                      Rajasekhar, for the Plaintiff/Applicant.
                      Mr. Ram Jay Narayan, for Caveator.
                      Ms. Nidhi Shah i/b. Amir Arsiwala, for the Liquidator of Tag
                      Offshore Limited.

                                               CORAM :    N. J. JAMADAR, J.

                                               DATE :     DECEMBER 13, 2022

                      P.C.:

1. This application is preferred by the applicant/ decree holder

for determination of priorities in respect of the sale proceeds of M.V.

TAG 7 which was sold pursuant to the order of the Court dated 21 st

June, 2021 for Rs. 7.11 Crore.

2. In Interim Application No. 1135 of 2020 in Commercial

Admiralty Suit No. 1 of 2022 by an order dated 30 th August, 2022, a

summary judgment is passed in favour of the applicant/plaintiff

against the sale proceeds of the defendant vessel M.V. TAG 7 for Rs.

55,10,94,099/- along with interest @ 9% p.a. and costs of Rs. 4

lakhs. Before determination of the priorities, it may be expedient to

Vishal Parekar, P.A. ...1 18-ia-4565-2022.doc

direct the Sheriff of Mumbai to publish a notice inviting the claims

under Rule 1087 of Bombay High Court (OS) Rules, 1980.

3. Hence, the application, for the present, stands allowed in

terms of prayer clause (a).

4. The Sheriff of Mumbai shall give a period of 90 days to the

prospective claimants to institute the suit.

5. The applicant shall put the Sheriff with funds of Rs. 25,000/-

for publication of the notice.

6. Liberty to mention after the period of 90 days from the date of

publication is over.

                                           (N. J. JAMADAR, J.)




Vishal Parekar, P.A.                                                         ...2