Prashama Shukla And Anr vs Heena Builders And Developers And ...
2023 Latest Caselaw 8 Bom

Citation : 2023 Latest Caselaw 8 Bom
Judgement Date : 2 January, 2023

Bombay High Court

Prashama Shukla And Anr vs Heena Builders And Developers And ... on 2 January, 2023

Bench: R. I. Chagla

                                                          1.CRR.318.22 in SL.1242.18.doc



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

                    COURT RECEIVER'S REPORT NO. 318 OF 2022
                                       IN
                           SUIT (L) NO. 1242 OF 2018

Prashama Shukla & Anr.                        ...     Plaintiffs
           Versus
Heena Builders and Developers & Ors.          ...   Defendants


                                     WITH
                    INTERIM APPLICATION (L) NO. 37515 OF 2022
                                      IN
                    COURT RECEIVER'S REPORT NO. 318 OF 2022


Ms. Sapana Rachure for the Plaintiffs.
Ms. Gauri Mestha i/b LJ Law for Judgment Creditor in S/817/2015.
Mr. K.M. Sanghvi for Kapol Co.Op. Bank in IA/31541/2022.
Ms. Disha Karambar Mulgaonkar a/w Priya Rita i/b Disha Karambar and
Associates for India Infoline Finance Limited and Applicant in
IAL/26630/2022.
Mr. Shridhar Dhekhale, C.R. present.


                                        CORAM :     R.I. CHAGLA, J.
                                        DATED :     2nd JANUARY, 2023.
ORDER :

1 The Court Receiver present states that no offer has been

received for the subject flats and shops which were to be sold by way of

Court auction as per order dated 31.01.2022.

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                                                        1.CRR.318.22 in SL.1242.18.doc



2           It is stated in the Report that the Court Receiver had been

appointed on 11.10.2018 and possession of subject flats and shops were

taken on in 2021. Thereafter M/s. Nadkarni & Co. who was appointed as

Valuer by the said order dated 31.01.2022 had upon taking inspection of

the subject flats and shops submitted valuation report in sealed envelope

in the Court Receiver's office on 23.02.2022. The Reserve Price was fixed

by order dated 06.04.2022. Subsequently, public notice was issued in

'Free Press Journal' in English and 'Navshakti' in Marathi on 10.05.2022.

Though inspection had been taken by the interested persons but no offers

were received in respect of subject flats Nos.601/6A and 602/6B.

3 The Registry received two offers for subject Flat No.5, Viral

Apartment, Second Floor, A-Wing, and Flat No.101, Nestor Court Co-

operative Housing Society Limited. The subject Flat No.5, Viral Apartment

has been mortgaged to India Infoline Finance Limited and Flat No.101,

Nestor Court Co-operative Housing Society Limited mortgaged to Kapol

Co-operative Bank. Thereafter, at the meeting of the Court Receiver held

on 18.05.2022 these offers were opened. Thereafter, the original offeror

Mr. Kaushal Negandhi had raised the offers in respect of subject Flat No.5

and subject Flat No.101. However, the raised offers were also less than

the present market value and value of ready reckoner. The Advocates for

the parties unanimously submitted at the meeting that the offers received Waghmare 2/6

1.CRR.318.22 in SL.1242.18.doc

are not proper and sufficient to be accepted.

4 The Registry had thereafter received the letter dated

28.06.2022 alongwith annexure from India Infoline Finance Limited

stating that an offer was received from Mr. Harish Shetty, who was

interested to purchase subject Flat No.5 for an amount of

Rs.1,75,00,000/-. No objection was received from the Advocate for the

Defendants upon being communicated the said offer by the Registry vide

e-mail dated 08.07.2022. However, by order dated 10.10.2022 this Court

upon perusing the Valuation Report and in particular valuation in respect

of subject Flat No.5 for which offer of Rs.1,75,00,000/- had been received

from Mr. Harish Shetty had observed that this offer was much below the

value of the subject flat as valued by the appointed valuer M/s. Nadkarni

& Co.

5 Thereafter, by order dated 17.10.2022, this Court Receiver's

Report was placed before this Court and time had been granted in view of

request made by the learned Counsel for the parties for bringing further

offers for the subject flats before the next date in order for sale of the

subject flats by private treaty. Time was granted till 11.11.2022 and the

Court Receiver's Report was to be placed on 14.11.2022 at 2.30 p.m. The

permission was granted to the Judgment Debtor to enter the subject flats

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in the presence of the Court Receiver for carrying out maintenance

including cleaning and keeping the subject flats in proper order.

6 The matter had thereafter been stood over on two dates and

has come up today.

7 The learned Counsel appearing for the Plaintiffs has

submitted that one more opportunity be given for Court sale of the subject

flats through the Court Receiver by issuance of public notice in widely

circulated newspapers including 'Times of India' (in English language),

'Maharashtra Times' (in Marathi language) and 'Janmabhumi' (in Gujrati

language).

8 There is an opposition from the learned Counsel appearing

for India Infoline Finance Limited to the Court sale. Reference has been

made in this connection to prior order dated 16.10.2018 and the fact that

for a period of over four years inspite of directions issued in the said order

to the Court Receiver to sell the subject flats by public auction, the desired

sale has not been achieved.

9 The learned Counsel appearing for the Plaintiffs has referred

to the said order where the statement made by the learned Counsel for

the India Infoline Finance Limited was recorded, viz. India Infoline

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Finance Limited had no objection to the properties mortgaged being sold

through the Court Receiver and amount received from the sale

consideration. Similar statement had been made on behalf of Kapol Co-

operative Bank Limited.

10 Having considered the submissions as well as noting that the

prior Court sale/sale by public auction was not successful as reported by

the Court Receiver, one last opportunity requires to be given for effecting

the Court sale of the subject property. Hence the following order is

passed:

i) The Court Receiver is directed to hold meeting on

06.01.2023 at 3.30 p.m. for fixing schedule of Court sale

including issuance of fresh public notice which shall be in

widely circulated in newspapers mentioned above. Needless

to state that in the event the Court sale conducted by the

Court Receiver of the subject properties if proved to be

unsuccessful then the applications filed by Kapol Co-operative

Bank Limited and India Infoline Finance Limited shall be

considered.

ii) The Court Receiver shall follow the requisite procedure

for the Court sale within a period of six weeks from the date

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of this order.

iii) The Court Receiver shall file fresh report disclosing the

steps taken towards the Court sale and offers, if any, received

which shall be placed before this Court on 27.02.2023.

iv) The costs of the report amounted to Rs.5,000/- is

allowed to be recovered from the suit account.

v) With regard to the prayer clause (d) of the Court

Receiver's Report which seeks necessary directions to the