Integrated Finance Company Limited vs Business India
2024 Latest Caselaw 23021 Bom

Bombay High Court

Integrated Finance Company Limited vs Business India on 7 August, 2024

Author: Abhay Ahuja

Bench: Abhay Ahuja

                                                               917-IA-2899-2023.doc


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

               INTERIM APPLICATION NO. 2899 OF 2023
                                IN
          COMMERCIAL EXECUTION APPLICATION NO. 52 OF 2023

 Integrated Finance Company Limited             ... Applicant

                  V/s.

 Business India and others                      ... Respondents

                              WITH
               INTERIM APPLICATION NO. 2133 OF 2024
                                IN
          COMMERCIAL EXECUTION APPLICATION NO. 52 OF 2023

 Ms. Chaitra Rao, Advocate for the Applicant.
 Mr. Navdeep Dahiya alongwith Ms. Ria Garg and Mr. Kenneth Martin,
 Advocates for the Respondent No.3.

                           CORAM    :     ABHAY AHUJA, J.

                           DATE     :     7 AUGUST, 2024

 P.C. :

1. This Interim Application seeks execution of a Decree dated

15th November 2021 which has been transmitted to this Court from the

Madras High Court for execution.

2. Ms. Rao appears for the Applicant and submits that no

payment has been received under the decree of Rs.25,81,61,355/- with

further interest at the rate of 36% p.a. on Rs.95,60,420/- till the date of

realization, which was directed to be paid.

917-IA-2899-2023.doc

3. Ms. Rao submits that this Court therefore not only grant

relief in terms of prayer clause (b), but also injunct the Respondents

from in any manner whatsoever dealing with their assets.

4. Mr. Dahiya for the Judgment Debtor seeks some time in

the matter.

5. Having heard the learned Counsel and having considered

their submissions, this Court is of the view that relief in terms of prayer

clause (b), which reads thus be granted :

(b) that the Respondents may be directed by the order of this Hon'ble Court to file an Affidavit on oath stating what debts are owning to the Respondents, furnishing full and complete details of its assets and properties including its movable and immovable properties, shares, securities, bank accounts, investments, debts, receivables, etc. and what are the other means of satisfying the decree dated 15th November 2021 and all other details required to be disclosed by Form No.16A of Appendix "E" Civil Procedure Code, 1908 within a period of 2 weeks of the order being passed by this Hon'ble Court and furnish a copy of the said Affidavit to the Applicant within 2 weeks or such time as prescribed by the Hon'ble High Court to use the information therein for execution of the said decree dated 15th November, 2021.

917-IA-2899-2023.doc

6. Let an Affidavit on oath be filed by the Respondents in

terms of the aforesaid prayer within a period of four weeks from today.

7. List on 11th September 2024.

8. In the meanwhile, till the next date, the Respondents-

Judgment Debtors not to in any manner whatsoever deal with or

dispose of their assets or properties, movable or immovable, tangible or

intangible.

(ABHAY AHUJA, J.)