Bombay High Court
Rohit Vinayak Shah vs Kamal Ramanlal Bakliwal on 6 December, 2023
Author: Bharati Dangre
Bench: Bharati Dangre
2023:BHC-OS:14272
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E-file
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION NO.2453 OF 2023
IN
EXECUTION APPLICATION NO.717 OF 2013
WITH
CHAMBER SUMMONS NO.295 OF 2016
IN
EXECUTION APPLICATION NO.717 OF 2013
WITH
SHOW CAUSE NOTICE NO.19 OF 2020
IN
EXECUTION APPLICATION NO.717 OF 2013
WITH
CHAMBER SUMMONS NO.1598 OF 2016
IN
EXECUTION APPLICATION NO.717 OF 2013
Rohit Vinayak Shah .. Applicant
Versus
Kamal Ramanlal Bakliwal .. Respondent
...
Mr.Rishab Murau with Ms.Sakina Electricwala i/b Dhruve
Liladhar & Co. for the Applicant.
Mr.Rijul Khandare i/b Ms.Ankita Phadke for the Respondent.
Mr.Rohit Shah, Applicant, present in person.
Mr.Kamal Bakliwal, Respondent, appeared through VC.
...
M.M.Salgaonkar
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CORAM: BHARATI DANGRE, J.
DATED : 06th DECEMBER, 2023
P.C:-
1. The Execution Application deserve a disposal in the wake
of the consent terms signed by the parties on 24/11/2023
alongwith their respective counsel. Mr.Rohit Vinayak Shah,
the Award Holder has filed the Execution Application, seeking
execution of the Award dated 04/09/2012, passed by the sole
Arbitrator under which the Respondent-Kamal Ramanlal
Bakliwal was liable to pay aggregate principal sum of Rs.Two
Crore together with interest at the rate of 12%, aggregating to
Rs.3,14,49,862/- as on 15/07/2023 and by computing the
interest upto the date, the outstanding principal and interest
was estimated to be Rs.5,14,49,862/-.
The consent terms are signed by the original
Claimant/Judgment Creditor and the Respondent/Judgment
debtor and in the wake of the settlement arrived, which is
contained in form of supplementary consent terms, the
Execution Application is sought to be disposed off.
2. The consent terms are taken on record and marked 'X'
for identification.
Mr.Rohit Shah, the Applicant/Orig. Claimant is present
in the Court in person and his identity has been established by
the Court Associate through his identity card. Mr.Kamal
Bakliwal, who is unable to attend the proceedings in person,
M.M.Salgaonkar
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has participated in the proceedings by remaining present on-
line and he is identified by his counsel Mr.Rijul Khandare. The
consent terms are signed by the respective parties and their
counsel.
3. The consent terms make a reference to the earlier
consent terms dated 19/07/2023, wherein it was agreed that
subject to payment of Rs.Three crores i.e. Rs.Two crores
towards the outstanding principal amount and Rs.One crore,
being the interest thereon, by way of full and final settlement,
the claim of Claimant, as per the Award, would stand settled.
The said consent terms are acted upon and necessary payment
to that effect has been made.
Paragraph 6 of the consent terms clearly record that
instead of Rs.Three crores, the Claimant has settled the
amount at Rs.2,70,00,000/- and is satisfied with the amount
received as full and final settlement of the Award and has
undertaken to discharge the Respondent of his liability under
the Award.
Pursuant thereto, the charge of the Applicant on the
residential premises, which is mentioned in paragraph 7,
belonging to Alka Kamal Bakliwal stand released/discharged in
the wake of the full and final settlement. Similarly, all the assets
and the properties of the Respondent, including but not limited to
the bank accounts, shares etc. that were subjected to attachment
by virtue of warrant of attachment dated 20/09/2013 are also
declared to be released from such attachment. It is agreed that
the necessary steps shall be undertaken for giving effect to the
same.
M.M.Salgaonkar
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4. The consent terms, marked as X, have settled the dispute
between the Award Holder/Orig.Claimant and the Respondent/
Judgment Debtor, as regards the Award dated 04/09/2012.
Since it is clearly stated that the undertakings recorded
in the consent terms shall be accepted as undertakings to the
Court, it is directed that all the undertakings shall be abided
by the respective parties.
5. In the wake of the above, the Execution Application as
well as the pending interim applications/chamber summons,
stand disposed off.
( SMT. BHARATI DANGRE, J.)
M.M.Salgaonkar
