Ifci Factors Ltd vs Gei Industrial Systems Ltd. And ...
2022 Latest Caselaw 2392 Bom

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

                     SUMMONS FOR JUDGMENT NO.69 OF 2018
                                       IN
                    COMMERCIAL SUMMARY SUIT NO.499 OF 2018

IFCI Factors Ltd.                                      .. Applicant-Plaintiff
         Vs.
GEI Industrial Systems Ltd. & Anr.                     .. Defendants


Mr. Anubhav Rastogi, with Ms. Shibha Nambiar, for the Applicant-Plaintiff.
Mr. Lalith Nair, i/by Ms. Sonia Sunil, for the Defendants.


                                                CORAM : A. K. MENON, J.

                                                DATE         : 9TH MARCH, 2022.

P.C. :

1. This Summons for Judgment has been pending since 2018. On 2 nd

March 2022, the learned counsel appearing for defendant no.2 submitted

that he would be filing a reply. Time was granted subject to payment of costs.

As on date, costs have not been paid. The order directed the reply to be filed

not later than 11th March 2022. If costs were not paid, Summons for

Judgment was to be listed for hearing today. Accordingly, it is listed today.

2. Mr. Nair on behalf of the 2 nd defendant, on instructions, states that

there are proceedings in the NCLT, which are pending against the 1 st

defendant. However, the Summons for Judgment is now being prosecuted

against the 2nd defendant, who is the guarantor. At this stage, Mr. Nair points

22-SJ-69-2018.doc Dixit out that there are some other proceedings pending before the NCLT, Indore

Bench at Ahmedabad, against the guarantor as well. He relies on an order

dated 13th January 2022 passed by the said Bench in C.P.(IB)/54(MP)2021

[State Bank of India Vs. Shri Carnet Elias Fernandes], in which the respondent

has sought time to file a reply. Nothing has been shown to this court that

there is any order of stay that the 2 nd defendant can take advantage of. The

moratorium operates in respect of proceedings against the company. There is

no reply to the Summons for Judgment.

3. At this stage, Mr. Nair submits that his Advocate on record is unable to

attend and that he seeks some time. Subject to compliance with paragraph 2

of the order of this court dated 2 nd March 2022, by paying the costs, time is

extended upto 16th March 2022, failing which Summons for Judgment will be

proceeded with on the next date.

4. List the Summons for Judgment on 23rd March 2022.

(A.K. MENON, J.)

Digitally

22-SJ-69-2018.doc signed by SNEHA SNEHA ABHAY DIXIT ABHAY Dixit Date:

DIXIT 2022.03.09 18:38:15 +0530