Bombay High Court
Red Apple Chandrarat Travel ... vs Thomas Cook (India) Ltd on 14 February, 2022
Bench: B.P. Colabawalla
12.ia.489.21..doc
Digitally
signed by
ANJALI
ANJALI
TUSHAR
TUSHAR
ASWALE
Date:
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ASWALE 2022.02.15
ORDINARY ORIGINAL CIVIL JURISDICTION
11:03:11
+0530
INTERIM APPLICATION NO. 489 OF 2021
IN
EXECUTION APPLICATION (L)NO.8094 OF 2020
Red Apple Chandrarat Travel Co Ltd ..Applicant/Orig.Decree
Holder/Claimant
Vs.
Thomas Cook (India) Ltd ..Respondent/Judgment
Debtor
Mr.Rahul Totala a/w Sankalp Anantwar, Ms. Risha Alva i/b SMA Law
Partners, for the Applicant.
Ms. Alpana Ghone a/w Cyrus Bharucha, Rushil Mathur i/b Kochhar &
Co, for the Respondent/Judgment Debtor.
CORAM:- B. P. COLABAWALLA,J.
DATE :- FEBRUARY 14, 2022.
P. C.:
The above Interim Application is filed by the Judgment
Creditor/Claimant seeking the following reliefs:-
a) That this Hon'ble Court be pleased to order and direct that the
Respondent to make necessary disclosure of all movable and
immovable assets and particulars of bank statements as set out in
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12.ia.489.21..doc
para 7 of this Interim Application.
b) That pending the hearing and final disposal of the present Interim
Application, Respondent by itself or its agents or servants be
restrained by an order and injunction of this Hon'ble High Court
from in any manner, either directly or indirectly, encumbering,
alienating, transferring, or creating any third party rights and
interests in their assets and properties?
2 It is not in dispute that as per the Award passed in favour of
the Judgment Creditor, as on 14 th February, 2022, a total amount of Rs.
2,91,84,139/- is due and payable by the Judgment Debtor to the
Judgment Creditor.
3 Ms. Ghone, the learned counsel appearing on behalf of the
Judgment Debtor has brought to my attention that the Award sought to
be executed in the above proceedings is challenged before this Court
under Section 34 of the Arbitration and Conciliation Act, 1996. She has
further stated that the Judgment Debtor is in the process of filing an
application seeking a stay of the implementation and execution of the
Award dated 31st January, 2020 read with its amendment dated 19 th
June, 2020.
4 Despite the aforesaid, Ms. Ghone, on instructions, stated
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12.ia.489.21..doc
that the entire amount due under the Award can be secured by
furnishing a bank guarantee in the sum of Rs. 2,91,84,139/- and the
Interim Application can therefore be disposed of by recording her
statement. She further stated that furnishing of the bank guarantee
should not in any way affect any of her arguments either on the
maintainability of the present Execution Application or in the Section
34 proceedings.
5 In view of the aforesaid stand taken by the Judgment
Debtor, it is directed that it shall furnish a bank guarantee of ICICI
Bank in favour of the Prothonotary and Senior Master in the sum of
Rs.2,91,84,139/- within a period of two weeks from today.
6 The furnishing of this bank guarantee shall abide by the
orders passed by this Court in the Section 34 Petition or any
interlocutory applications filed therein. Any further directions in
relation to the aforesaid bank guarantee shall be given by the Court
hearing the Section 34 Petition filed by the Judgment Debtor herein.
The Judgment Creditor is also at liberty to make an appropriate
application in the Section 34 proceedings seeking a withdrawal of this
amount. If any applications are filed in the Section 34 proceedings, they
shall be disposed of on their own merits and in accordance with law
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12.ia.489.21..doc
uninfluenced by any observations in this order.
7 In view of the fact that the Judgment Debtor is now
furnishing a bank guarantee for the entire amount, nothing would really
survive in the above Interim Application. However, to ensure
compliance of this order, this matter is kept on Board on 8 th March,
2022.
8 This order will be digitally signed by the Private
Secretary/Personal Assistant of this Court. All concerned will act on
production by fax or email of a digitally signed copy of this order.
( B. P. COLABAWALLA, J. )
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