Bombay High Court
Smn Tradecomm Private Limited vs Mideast Integrated Steels Ltd on 8 August, 2024
Author: Abhay Ahuja
Bench: Abhay Ahuja
2024:BHC-OS:11956
903. IAL 24153-24 in COMEX 13-21.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L) NO. 24153 OF 2024
IN
COMMERCIAL EXECUTION APPLICATION (L) NO. 13 OF 2021
SMN Tradecomm Pvt. Ltd. ...Applicant
In the matter between
Stemcor (SEA) Pte. Ltd. and Anr. ...Org. Applicants
V/s.
Mideast Integrated Steels Ltd.& Ors. ...Respondents
Mr. Chirag Kamdar with Ms. Namita Shetty and Mr. Amogh Krishnan
i/b Cyril Amarchand Mangaldas, Advocate for the Applicant.
Mr. Chirag Mody with Ms. Mythili Gosavi for Respondents No. 1 to 4.
CORAM : ABHAY AHUJA, J.
DATE : 8th AUGUST, 2024
P.C. :
1. This Interim Application seeks substitution of the Applicant in
place of the Judgment Creditor No.2 viz. Moorgate Industries India Pvt.
Digitally
signed by
NIKITA
NIKITA YOGESH
YOGESH GADGIL
Ltd. in the Execution Application as well as in the connected Interim
GADGIL Date:
2024.08.08
19:36:29
+0530
Application.
2. Mr. Kamdar, learned Counsel appears for the Applicant and
submits that pursuant to an assignment agreement dated 19 th January,
2024 as amended on 18th April, 2024, the Judgment Creditor No. 2
has assigned the rights in the award to the Applicant for
consideration mentioned therein. Accordingly, the Applicant has
903. IAL 24153-24 in COMEX 13-21.doc
become entitled to the rights in the award dated 25 th June, 2019. Mr.
Kamdar would submit that this Court therefore allow the Applicant to
be substituted in place of Judgment Creditor No.2.
3. Mr. Modi, learned Counsel appears for the Judgment Debtors viz.
Respondents No. 1 to 4 and submits that the Judgment Debtor's rights
and contentions to file reply be kept open.
4. Having heard the learned Counsel and having considered the
submissions, this Court is of the view that the substitution be allowed.
The Application is made absolute in terms of prayer Clauses (a) to (e),
which are quoted as under:-
"(a) This Hon'ble Court grant leave to substitute SMN
TRADECOMM PRIVATE LIMITED as Applicant No. 2 in place
of MOORGATE INDUSTRIES INDIA PVT. LTD in the captioned
Execution Application No. 13 of 2021;
(b) This Hon'ble Court grant leave to substitute SMN
TRADECOMM PRIVATE LIMITED as Applicant No. 2 in place
of MOORGATE INDUSTRIES INDIA PVT. LTD. in the Interim
Application No. 297 of 2019;
(c) This Hon'ble Court grant leave to substitute SMN
TRADECOMM PRIVATE LIMITED as Applicant No. 2 in place
of MOORGATE INDUSTRIES INDIA PVT. LTD. in the Interim
Application (L) No. 4884 of 2020;
(d) This Hon'ble Court grant leave to substitute SMN
TRADECOMM PRIVATE LIMITED as Applicant No. 2 in place
of MOORGATE INDUSTRIES INDIA PVT. LTD. in the Interim
Application (L) No. 2403 of 2023;
903. IAL 24153-24 in COMEX 13-21.doc
(e) The Applicant be allowed to carry out necessary
amendments in the captioned Execution Application and in
the Interim Application No. 297 of 2019, Interim Application
(L) No. 4884 of 2020; and Interim Application No. 2402 of
2023 in terms of the Schedule of Proposed Amendments
annexed and marked Exhibit E hereto."
6. Let the amendments be carried out within a period of two weeks.
Let the amended copies of the Execution Application as well as the
connected Interim Application be served upon the Respondents within
a period of two weeks thereafter and an appropriate affidavit of service
be filed. The Respondents are at liberty to file replies to the amended
applications.
7. The Application accordingly stands allowed and disposed as
such.
(ABHAY AHUJA, J.)
