Bombay High Court
Bhagwan Thadhani @ Bhagwan ... vs Tridhaatu Asset Holding Llp And ... on 20 February, 2023
Bench: R. I. Chagla
5-CRR-41-2023.doc
Sharayu Khot.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COURT RECEIVER'S REPORT NO.41 OF 2023
WITH
INTERIM APPLICATION (L) NO. 22694 OF 2021
WITH
INTERIM APPLICATION NO. 4047 OF 2022
IN
COM EXECUTION APPLICATION (L) NO.22692 OF 2021
WITH
INTERIM APPLICATION (L) NO. 29149 OF 2021
IN
INTERIM APPLICATION (L) NO. 22694 OF 2021
Bhagwan Thadani @ Bhagwan ...Applicant/Judgment
Thadhani Creditor/Ori. Plaintiff.
Versus
Tridhaatu Asset Holdings LLP & Anr. ...Respondents/
Judgment Debtors/Ori.
Defendants
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Mr. Naushad Engineer, Mr. Vaibhav Charalwar, Mr. Sharad Bansal,
a/w Mr. Murtaza Federal, Mr. Veer Ashar and Mr. Sudarshan
Satalkar i/b. Federal & Co. for the Applicant/Judgment Creditor.
Mr. Abhishek Salian, i/b. Vidhii Partners for the Judgment Debtors.
Mr. Hafeez Patanwala i/by Juris Corp for TTD Realtors Pvt.Ltd.
Successful Bidder.
Partners of the Judgment Debtor are present.
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5-CRR-41-2023.doc
CORAM : R.I. CHAGLA J
DATE : 20 February 2023
ORDER :
1. Mr. Salian, the learned Counsel appearing for the
Judgment Debtors has informed this Court that there is an interested
party to purchase the subject Flat No. 402. Accordingly, the Judgment
Debtors shall place on Affidavit the offer received for subject Flat No.
402 as well as further security by way of personal assets of the
Judgment Debtors which can be offered to secure the Decree of
which execution has been sought. Insofar as the subject Flat No.
1814 is concerned, Mr. Salian informs this Court that till date there is
no interested party to purchase the subject flat. He has applied for a
period of four weeks to locate an interested party to purchase the
subject Flat No. 1814.
2. The Judgment Debtors shall accordingly file the Affidavit
by 24th February 2023 giving the aforementioned particulars.
3. Insofar as the other direction is concerned viz. with
regard to the disclosures to be made by the partners of the Judgment
5-CRR-41-2023.doc
Debtors for satisfying a decree in view of the undertaking giving to
this Court the same will be considered on the next date.
4. Learned Counsel appearing for the Judgment Debtors
tenders an Affidavit dated 20th February 2023 which is taken on
record. This Affidavit has been filed pursuant to the order dated 6th
February 2023, by which the Judgment Debtors were directed to file
an Affidavit mentioning that occupation certificate has been applied
for and the outer date on which the occupation certificate may be
obtained. It is stated in the said Affidavit that the occupation
certificate shall be obtained by the Judgment Debtors with respect to
the subject flat on or before 31st December 2023 in line with RERA
timelines. It is further mentioned that as per agreement executed
between the Judgment Debtors and TTD Realtors, categoric
consequences are stipulated in the eventuality of the occupation
certificate not being obtained by 31st December 2023. It is stated
that the interest of TTD Realtors is sufficiently protected and at par
with other flat purchasers in the project.
5. The current status of the project is mentioned in
paragraph 5 of the said Affidavit. It is stated that the RCC work is
5-CRR-41-2023.doc
100% complete and the project is 97% complete. Ground and car
parking are yet to be completed.
6. At this stage, learned Counsel for the Judgment Debtors
states that the partners of the Judgment Debtors are present in Court
and they shall also remain present on the next date.
7. Place the above matters on 27th February 2023 at 2.30
p.m.
[R.I. CHAGLA J.]
