Bombay High Court
Vistra Itcl (India) Limited vs Bhagwan Thadhani @ Bhagwan ... on 2 February, 2022
Bench: B.P. Colabawalla
GANESH
SUBHASH
LOKHANDE 5-IA(L)-22694-2021.doc
Digitally signed by
GANESH SUBHASH
LOKHANDE
Date: 2022.02.02
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
18:11:57 +0530
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L) NO. 22694 OF 2021
IN
COMMERCIAL EXECUTION APPLICATION (L) NO. 22692 OF 2021
IN
COMMERCIAL SUMMARY SUIT NO. 4 OF 2020
Bhagwan Thadhani @ Bhagwan Thadani .. Applicant
AND
INTERIM APPLICATION (L) NO. 27999 OF 2021
IN
COMMERCIAL EXECUTION APPLICATION (L) NO. 22692 OF 2021
IN
COMMERCIAL SUMMARY SUIT NO. 4 OF 2020
Vistra ITCL Pvt. Ltd. .. Applicant
AND
INTERIM APPLICATION (L) NO. 29149 OF 2021
IN
COMMERCIAL EXECUTION APPLICATION (L) NO. 22692 OF 2021
IN
COMMERCIAL SUMMARY SUIT NO. 4 OF 2020
Tridhaatu Asset Holding LLP & Anr. .. Applicants
IN THE MATTER BETWEEN:
Bhagwan Thadhani @ Bhagwan Thadani .. Applicant/
Judgment Creditor
V/s.
Tridhaatu Asset Holding LLP & Anr. .. Judgment Debtors/
Original Defendants
Zal Andhyarujina, Sr. Adv. With Chirag Kamdar, Karan Bhide, Nanki
Grewal & Manasi Joglekar i/b. Wadia Ghandy & Co. for the Applicant in
Ganesh Lokhande 1/3
5-IA(L)-22694-2021.doc
IA (L)/27999/2021.
Dr. Birendra Saraf, Sr. Adv. a/w. Vaibhav Charalwar, Mr. Murtuza
Federal, Sougat Pati and Sudarshan Satalkar i/b. Federal & Co. for the
Applicant in IA(L)/22694/2021.
Saket Mone a/w. Mr. Abhishek Salian i/b. Vidhii Partners for Judgment
Debtor.
S. KI. Dhekale, OSD, Court Receiver, is present.
CORAM :- B.P.COLABAWALLA, J.
DATE :- 2nd FEBRUARY, 2022.
(THROUGH VIDEO CONFERENCING)
P. C.:
1. By order dated 4th January, 2022, Consent Minutes of Order
were taken on record and marked "X" for identification. The aforesaid
Consent Minutes of Order, inter-alia stipulated that the partners of the
Judgment Debtors jointly and severally undertook to pay to the
Judgment Creditor a sum of Rs. 20 Crores on or before 31 st January,
2022. It was in these circumstances, that the above matters were kept
today for reporting compliance.
2. Today, when the matter is called out, Mr. More, the learned
advocate appearing on behalf of the Judgment Debtors, has fairly stated
that the Judgment Debtors have not been able to comply with the
Consent Minutes of Order dated 4 th January, 2022. He stated that
because of the sudden third wave of the COVID-19 pandemic, the
Ganesh Lokhande 2/3
5-IA(L)-22694-2021.doc
Judgment Debtors have not been able to arrange payment of Rs. 20
Crores to the Judgment Creditors. He therefore sought indulgence in
this Court and undertook, on instructions, that the Judgment Debtors
shall definitely pay a sum of Rs.12 Crores on or before 16 th February,
2022 and shall also approach the Judgment Creditor to work out the
modalities for payment of the balance amount.
3. Purely out of mercy, one last chance is given to the
Judgment Debtors. The Judgment Debtors, as per the undertaking
given to the Court, shall pay the sum of Rs.12 Crores to the Judgment
Creditor on or before 16th February, 2022.
4. It is needless to clarify that this extension is granted
without prejudice to the rights and contentions of the Judgment
Creditor.
5. Stand over to 17th February, 2022.
6. All parties to act on an authenticated copy of this order
digitally signed by the Personal Assistant /Private Secretary/Associate
of this Court.
(B. P. COLABAWALLA, J.)
Ganesh Lokhande 3/3
