Reliance Industries Limited vs Bharat Petroleum Corporation ...
2022 Latest Caselaw 12108 Bom

                                                                                     20.ia(l).36373.2022.doc
UTKARSH
KAKASAHEB
BHALERAO
Digitally signed by
UTKARSH
KAKASAHEB
BHALERAO
                                 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
Date: 2022.11.24
19:15:49 +0530
                                       ORDINARY ORIGINAL CIVIL JURISDICTION


                                     INTERIM APPLICATION (L) NO. 36373 OF 2022
                                                             IN
                                       EXECUTION APPLICATION NO. 377 OF 2021


                      Reliance Industries Limited                     .. Applicant
                                                                      (Org. Respondent)

                      In the matter of:

                      Bharat Petroleum Corporation Ltd.               .. Judgment Creditor/
                                                                      Claimant

                                Vs.

                      Reliance Industries Ltd.                        .. Judgment Debtor/
                                                                      Respondent


                      Ankit Lohia a/w Gaurav Thakur a/w Gaurav Gangal i/b A.S. Dayal & Associates for
                      the Applicant.
                      Amol Bavare a/w Vrushali Pokharne i/b Pragya Legal for Judgment Creditor.


                                                         CORAM:- B. P. COLABAWALLA,J.

DATE :- NOVEMBER 24, 2022.

P. C.:

1. The above Execution Application is filed by the Judgment

Debtor seeking the following reliefs:

Utkarsh page 1 of 4

20.ia(l).36373.2022.doc

"(a) This Hon'ble Court be pleased to set aside and/or withdraw the warrant of attachment dated 16 th December 2021 issued by the learned Prothonotary and Senior Master of this Hon'ble Court in Execution Application No. 377 of 2021 by which the learned Prothonotary and Senior Master has attached Bank Account bearing No.54105000107 with ICICI Bank, IFSC: ICIC0000104, branch situated at First Floor, Empire Complex, 414, S.B. Marg, Lower Parel, Mumbai 400 013;

(b) pending the hearing and final disposal of the present Application this Hon'ble Court be pleased to stay the effect and operation of the warrant of attachment dated 16 th December, 2021 issued by the learned Prothonotary and Senior Master of this Hon'ble Court in Execution Application No. 377 of 2021 by which the learned Prothonotary and Senior Master has attached Bank Account bearing No. 54105000107 with ICICI Bank, IFSC: ICIC0000104, branch situated at First Floor, Empire Complex, 414, S.B. Marg, Lower Parel, Mumbai 400 013;

(c) ad-interim reliefs in terms of prayer clause (b) above;

(d) For costs;

(e) For such further and other reliefs as the nature and circumstances of the case may require."

2. Mr. Lohia, the learned counsel appearing on behalf of the

Judgment Debtor, on instructions, has stated that the entire decretal

amount due under the Arbitral Award dated 11 th June, 2020 shall be

paid to the Judgment Creditor on or before 29 th November, 2022. He

submitted that this payment is being made without prejudice to the

Utkarsh page 2 of 4

20.ia(l).36373.2022.doc

Judgment Debtor's rights and contentions in the Section 34 Petition

filed by him to challenge the Arbitral Award dated 11th June, 2020.

Mr. Lohia, therefore, submitted that the attachment be raised as prayed

for in the above Interim Application and the above Execution

Application also be disposed of since the entire payment is now being

made to the Judgment Creditor, albeit without prejudice to the rights

and contentions of the Judgment Debtor as recorded above.

3. The learned counsel appearing on behalf of the Judgment

Creditor/Claimant has fairly stated that if the entire payment is made,

the attachment can be raised and the above Execution Application can

be disposed of.

4. In view of the aforesaid consensus the following order is

passed:

(i) The above Interim Application is allowed in terms of

prayer clause (a) which reads thus:

"(a) This Hon'ble Court be pleased to set aside and/or withdraw the warrant of attachment dated 16 th December, 2021 issued by the learned Prothonotary and Senior Master of this Hon'ble Court in Execution Application No.377 of 2021 by which the learned Prothonotary and Senior Master has attached Bank Account bearing No.54105000107 with ICICI Bank,

Utkarsh page 3 of 4

20.ia(l).36373.2022.doc

IFSC: ICIC0000104, branch situated at First Floor, Empire Complex, 414, S.B. Marg, Lower Parel, Mumbai 400 013;"

(ii) The statement made by Mr. Lohia on behalf of the

Judgment Debtors that the entire decretal amount shall

be paid on or before 29th November, 2022 is accepted as

an undertaking given to this Court.

(iii) The payment of the decretal amount [due under the

Arbitral Award] shall be made without prejudice to the

rights and contentions of the Judgment Debtor in the

Section 34 Petition filed by it before the Hon'ble Chief

Judge, City Civil Court, Hyderabad.

5. The above Interim Application is disposed of in the

aforesaid terms. Place the above Execution Application on board on

30th November, 2022 for compliance.

6. 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. )

      Utkarsh                                                         page 4 of 4