Kotak Mahindra Bank Ltd vs M/S D. Virendra And Co. Ors
2023 Latest Caselaw 4049 Bom

                                                                                                    16.IAL.207.23.DOC




                                  IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                      ORDINARY ORIGINAL CIVIL JURISDICTION

                                        INTERIM APPLICATION NO. 207 OF 2023
                                                       IN
                                       EXECUTION APPLICATION NO. 1373 OF 2011

ANJALI ANJALI
       Digitally signed by
                TUSHAR
                               Kotak Mahindra Bank Ltd                    ..Applicant/Claimant
TUSHAR ASWALE
       Date: 2023.04.21
ASWALE 18:22:58  +0530
                                                                         /Decree Holder
                               Versus

                               M/s.D.Virendra & Co & Ors                 ..Respondents

/Judgment Debtors

Mr.Bijal Gogri, with Mr.Shiny Roy i/b O M Gujar Law Chambers, Advocates for the Applicant.

Mr.Kiran D. Bhange i/b Jay & Co, Advocates for Respondent No.1.

Mr. Anand Jhaveri, Son of Respondent No.2 is present.

                                                        CORAM      : B. P. COLABAWALLA, J
                                                        DATE       : APRIL 21, 2023

                              P.C.

The above Interim Application is filed by Kotak

Mahindra Bank Ltd seeking various reliefs.

2 The principal relief is to set aside the order passed by

this Court on 20th March, 2017 (G. S. Patel, J.) staying the

Execution Proceedings and vacating the stay granted by virtue of

the said order.

APRIL 21, 2023 Aswale

16.IAL.207.23.DOC

3 The learned counsel appearing on behalf of the

Respondents/Judgment Debtors, on instructions of Mr. Anand

Jhaveri (son of Respondent No.2) who is present in Court today,

has stated that they are genuinely interested in settling the above

matter with the Applicant Bank. In this regard, he will give an

OTS Proposal to the Applicant Bank on or before 8 th May, 2023,

was the statement made before me.

4 Considering the peculiar circumstances of this case,

and which have been set out in detail in the order passed by this

Court on 20th March, 2017, it is directed that the OTS Proposal for

settling the dues of the Applicant Bank shall be submitted by the

Respondents to the Applicant Bank on or before 8 th May, 2023. If

any such OTS Proposal is forwarded to the Applicant Bank,

considering the peculiar circumstances of this case, the Applicant-

Bank is requested to consider the same sympathetically.

 5                Stand over to 3rd July, 2023.


 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 ].

APRIL 21, 2023 Aswale