Vishal Kedia vs Sureshkumar S. Bafna
2022 Latest Caselaw 11144 Bom

                                                                     16 IA 307-22..doc

GANESH
SUBHASH                          IN THE HIGH COURT OF JUDICATURE AT BOMBAY
LOKHANDE

Digitally signed by
                                      ORDINARY ORIGINAL CIVIL JURISDICTION
GANESH SUBHASH
LOKHANDE
Date: 2022.10.22
17:18:39 +0530                          INTERIM APPLICATION NO. 307 OF 2022
                                                          IN
                           COMMERCIAL EXECUTION APPLICATION (L) NO. 29193 OF 2021
                                                          IN
                                      SUMMONS FOR JUDGMENT NO. 108 OF 2018
                                                          IN
                                     COMMERCIAL SUMMARY SUIT NO. 1215 OF 2018




                      Vishal Kedia                                       ..Applicant
                                                                  Decree Holder/Org. Plaintiff
                               Vs.
                      Sureshkumar S. Bafna                               ..Respondent
                                                                Judg. Debtor/Org. Defendant



                      Ms. Kavisha Shah i/b. India Law Alliance, for the Applicant.
                      Mr. Vivek Kantawala a/w Amey Patil i/b. M/s. Vivek Kantawala &
                      Co. for the Respondent.

                                                       CORAM:- B. P. COLABAWALLA,J.

DATE :- OCTOBER 20, 2022.

P. C.:

1. The above Interim Application was filed seeking various

interim reliefs.

                      Laxmi                                                              page 1 of 4
                                              16 IA 307-22..doc

2. The above Execution Application was filed seeking

execution of the Decree passed by this Court dated 14 th September, 2021

under which the Defendant agreed to pay a sum of Rs. 1,50,00,000/-

together with interest @ 6% p.a. from 1 st July, 2017 till the payment

and/or realization.

3. The learned Advocate appearing on behalf of the

Respondent, on 25th April, 2022, on instructions, stated that the

Respondent shall pay the aforesaid amount of Rs. 1,50,00,000/-

together with interest @ 6% p.a. from 1 st July, 2017 till the date

payment. He further stated that this entire payment shall be made on or

before 30th September, 2022. Accepting this statement as an

undertaking given to the Court, the above Interim Application was

placed on board on 3rd October, 2022 under the caption for

"compliance".

4. Today when the matter is called out, an affidavit of Mr.

Sureshkumar Bafna (the Defendant/Judgment Debtor) is tendered

before me. In the said affidavit, it is stated that due to certain

difficulties, he could manage to pay only a sum of Rs. 50,00,000/- to

the Decree Holder. It is further stated that if interest @ 6% p.a. is

Laxmi page 2 of 4 16 IA 307-22..doc

calculated up to 31st January, 2023, it comes to Rs. 48,00,000/-. Over

and above this, they would have to pay the sum of Rs. 1 Crore. In the

said affidavit, it is stated that this entire amount of Rs. 1,48,00,000/-

(towards the principal amount and interest) would be paid to the Decree

Holder by 31st January, 2023.

5. Mr. Kantawala, the learned Advocate appearing on behalf of

the Judgment Debtor has submitted that this is the last extension that

they seek. To show their bona fides, the Defendant has also offered as a

security, Flat No. 93, Darya Mahal-A, 80 Nepean Sea Road, Mumbai-

400006 standing in the name of the two sons of the Defendant. He has

also tendered an affidavit of the said two sons wherein they have stated

on oath that they are the joint owners of the said flat and in the event

the Judgment Debtor (their father) is unable to pay decretal amount

indicated above by 31st January, 2023, then the said flat can be sold

under orders passed by this Court to the extent of recovery of the

decretal amount with interest. At the request of Mr. Kantawala, the said

affidavit dated 20th October, 2022 is taken on record and put in a sealed

cover.

6. Ms. Kavisha Shah, the learned Advocate appearing for the

Decree Holder, has stated that considering the fair stand taken by the

Laxmi page 3 of 4 16 IA 307-22..doc

Judgment Debtor that they do not have any real objection if the amount

of Rs. 1,48,00,000/- is paid by the Judgment Debtor by 31 st January,

2023.

7. In these circumstances, the following order is passed:

a) The Judgment Debtor shall pay the aforesaid amount of Rs.

1,48,00,000/- to the Decree Holder by 31st January, 2023.

b) In the event, the aforesaid payment is not made by the said date,

the entire amount of Rs. 1,48,00,000/- shall carry interest @ 6%

p.a. and the Decree Holder shall be entitled to execute this order

inter-alia by attaching flat No. 93, Darya Mahal-A, 80 Nepean Sea

Road, Mumbai-400006.

8. Place the above matter on board on 2nd February, 2023, to

ensure the compliance.

9. 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                                                               page 4 of 4