Fem Constructions (India) Pvt. ... vs Panache Developers Pvt. Ltd. And ...
2022 Latest Caselaw 715 Bom

                                                                          7.ial 29535.21.doc



         Digitally
         signed by
         LAXMI                   IN THE HIGH COURT OF JUDICATURE AT BOMBAY
LAXMI    SUBHASH
SUBHASH SONTAKKE
SONTAKKE Date:
         2022.01.20
                                       ORDINARY ORIGINAL CIVIL JURISDICTION
         16:31:53

                                       INTERIM APPLICATION (L) NO. 29535 OF 2021
         +0530




                                                            IN
                               COMM. EXECUTION APPLICATION (L) NO. 29533 OF 2021


                      FEM Constructions (India) Pvt. Ltd.                            ..Applicant
                                                                  Judg. Creditor/Orig. Petitioner
                      IN THE MATTER BETWEEN
                      FEM Constructions (India) Pvt. Ltd.                            ..Judg. Creditor
                                                                                     Orig. Petitioner
                                 Vs.
                      Panache Developers Pvt. Ltd. & Anr.                          ..Judg.Debtor
                                                                                Orig. Respondent
                            And
                      Sunil Kukreja                                                  ...Respondent

                                                           .....
                      Mr. Chirag Saraogi with Kausar Banatwala i/b Tushar Goradia for the
                      Judgment Creditor.
                      T. Nagpal i/b DSK Legal for the Judgment Debtor.
                                                        .....

                                                         CORAM:- B. P. COLABAWALLA,J.

DATE :- JANUARY 19, 2022.

(THROUGH VIDEO CONFERENCING)

P. C.:

The learned Advocate appearing on behalf of the Judgment

Creditor has stated that in the above Arbitration, the parties agreed to

settle their disputes and differences by entering into consent terms

Laxmi 1/2

7.ial 29535.21.doc

dated 11th August, 2021. Under these consent terms, the Judgment

Creditor had agreed to receive the amount of Rs. 2 Crores including GST

as and by way of full and final settlement of all the claims. By order

dated 18th August, 2021, this Court took the aforesaid consent terms on

record and passed an order in terms of the consent terms.

2. The learned Advocate appearing on behalf of the Judgment

Creditor has submitted that though there was a default in making the

aforesaid payment, a substantial amount has now been received by the

Judgment Creditor and only an amount of Rs. 25 Lakhs is outstanding

and which is due and payable on 15 th February, 2022. In these

circumstances, the learned Advocate appearing on behalf of the

Judgment Creditor requested that this matter be stood over to any date

after 15th February, 2022.

3. Considering the aforesaid facts, the above matter is stood

over to 17th February, 2022.

4. 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. )

Laxmi                                2/2