Bombay High Court
Vistra Itcl (India) Limited vs Bhagwan Thadhani @ Bhagwan ... on 23 March, 2022
Bench: B.P. Colabawalla
GANESH (7)IA(L).22694.2021.doc
SUBHASH
LOKHANDE
Digitally signed by
GANESH SUBHASH
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
LOKHANDE
Date: 2022.03.24
12:34:19 +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 Thadani alias
Bhagwan Thadhani ..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 Thadani alias
Bhagwan Thadhani ..Applicant/
Judgment Creditor
V/S
Tridhaatu Asset Holding LLP
& Anr. ..Judgment Debtors/
Original Defendants
Utkarsh Bhalerao P.A. page 1 of 3
(7)IA(L).22694.2021.doc
Mr. Zal Andhyarujina, Senior Counsel a/w. Chirag Kamdar, Karan
Bhide, Nanki Grewal & Manasi Joglekar i/b. Wadia Ghandy & Co, for
the Applicant in IA(L)/27999/2021.
Mr. Vaibhav Charalwar a/w. Murtuza Federal, Sougat Pati and
Sudarshan Satalkar i/b. Federal & Co, for the Applicant in
IA(L)/22694/2021.
Mr. Saket More a/w. Abhishek Salian i/b. Vidhii Partners for Judgment
Debtors.
Kanchan Rane, 1st Assistant to Court Receiver is present.
CORAM:- B. P. COLABAWALLA, J.
DATE :- March 23, 2022.
P. C.:
1. As per order dated 15th March, 2022 the Judgment Debtors
have to pay a total sum of Rs. 12,80,00,000/- (Rupees Twelve Crore
Eighty Lakh only) plus interest @ 18% per annum plus costs, to the
Applicant-Bhagwan Thadani alias Bhagwan Thadhani.
2. The aforesaid amount of Rs. 12,80,00,000/- (Rupees
Twelve Crore Eighty Lakh only) was to be paid in installments as more
particularly set out in Paragraph No. 19(a) of the order dated 15 th March,
2022. The first installment was to be paid on or before 22 nd March,
2022.
Utkarsh Bhalerao P.A. page 2 of 3
(7)IA(L).22694.2021.doc
3. Today, when the matter is called out, I am informed that
the installment of Rs. 2,00,00,000/- (Rupees Two Crores Only) due and
payable on 22nd March, 2022 has infact been paid by the Judgment
Debtors to the Applicant-Bhagwan Thadani alias Bhagwan Thadhani.
The next installment of Rs. 2,80,00,000/- (Rupees Two Crores Eighty
Lakhs only) is due and payable on or before 28 th March, 2022.
4. In these circumstances, place the above matter on board on
31st March, 2022 for further compliance.
5. Considering that the installment of Rs.2,00,00,000/-
(Rupees Two Crores only) has been paid on 22 nd March, 2022, the
amount to be retained in the Escrow Account with Kotak Mahindra
Bank Ltd bearing Account No. 2611836870 (maintained with Nariman
Point Branch) shall be reduced to Rs. 6,00,00,000/- (Rupees Six Crores
only) as more particularly set out in Paragraph No. 19(b)(ii) of the order
dated 15th March, 2022.
6. This order will be digitally signed by the Personal
Assistant/Private Secretary 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. )
Utkarsh Bhalerao P.A. page 3 of 3
