Kotak Mahindra Bank Limited vs M/S. Shyam Enterprises
2023 Latest Caselaw 3156 Bom

2023:BHC-OS:2176



                                                                                 2-CRR-101-23.doc

            Sharayu Khot.
                                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                    ORDINARY ORIGINAL CIVIL JURISDICTION
                                   COURT RECEIVER'S REPORT NO. 101 OF 2023
                                                        IN
                                    COURT RECEIVER'S REPORT NO.65 OF 2023
                                                        IN
                                    INTERIM APPLICATION (L) NO.3970 OF 2022
                                                        IN
                                        CHAMBER SUMMONS NO.111 OF 2012
                                                        IN
                                  EXECUTION APPLICATION (L) NO.2135 OF 2011

                    Kotak Mahindra Bank Ltd.                              ...Applicant /
                                                                          Original
                                                                          Petitioner

                            Versus

                    Shyam Enterprises & Anr.                              ...Respondents

                                                     ----------
                    Mr. Anand Poojari a/w Ms. Nikita Pawar, Nehal Deshmukh i/b. S.I.
                    Joshi and Co. for the Applicant.
                    Ms. Seema Pandey i/by Pankaj Pandey for the Judgment Debtor.
                    Ms Rekha Rane, 2nd Asstt to Court Receiver is present.
                                                     ----------

                                                     CORAM : R.I. CHAGLA J

                                                       DATE       : 29 March 2023

                    ORDER :

1. Matter had been stood over to today. In view of the

2-CRR-101-23.doc

proprietor of Defendant No. 1 present in Court expressing his

willingness to settle the matter with the Applicant/Plaintiff and

stating that he will make payment of Rs. 16,00,000/- by today and

for balance amount, he has sought further time.

2. Proprietor of Defendant No. 1 has tendered Demand

Draft of Rs. 16,00,000/- to the learned Advocates for the

Applicant/Plaintiff, which is accepted by the learned Advocate for the

Applicant. Balance amount which is payable is a sum of Rs.

11,00,000/- which the proprietor of Defendant No. 1 undertakes to

make payment within a period of eight weeks from today.

Undertaking is accepted.

3. The Court Receiver was appointed by order of this Court

dated 22nd October 2018, to take symbolic possession of the subject

flat and by further orders was directed to take physical possession of

the subject flat vide order dated 26th October 2021 and by

subsequent order to sell the subject flat.

4. In view of the settlement arrived at between the

Defendant No. 1 and the Applicant/Plaintiff and Defendant No. 1

2-CRR-101-23.doc

undertaking to make payment of the entire sum of Rs. 35,00,000/-,

the Court Receiver is discharged without drawing up of accounts and

on payment of costs, charges and expenses, which shall be borne by

the Defendant No. 1.

5. The Second Assistant to the Court Receiver states that

EMD which has been received from the interested purchaser is being

handed back to the interested purchaser, in view of the offer received

from Ms. Nikita Balasaheb Tathawade not having been accepted.

6. Court Receiver's Report No. 101 of 2023 is disposed of.

7. The costs awarded to the Court Receiver for the sum of

Rs.5,000/- shall be deposited by the Applicant/Original Petitioner

with the Court Receiver within one week from the date of this Order.

8. Matter shall be placed for compliance on 6th June 2023.

[R.I. CHAGLA J.]