Asim Industries Pvt. Ltd vs Neptune Developers Through Its Partner ...
2024 Latest Caselaw 23649 Bom

Bombay High Court

Asim Industries Pvt. Ltd vs Neptune Developers Through Its Partner ... on 12 August, 2024

Author: Abhay Ahuja

Bench: Abhay Ahuja

                                                                                         8-IAL-5794-2023.doc


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

                                  INTERIM APPLICATION (L) NO.5794 OF 2023
                                                    IN
                            COMMERCIAL EXECUTION APPLICATION (L) NO.36540 OF 2022

                       Asim Industries Pvt. Ltd                                   ...Applicant
                                 V/s.
                       Neptune Developers Through
                       its partner Narayan Bheda                                  ...Respondent

                       Mr. Melcom Siganporia, Mr. Samarth Chowdhar i/b M/s. Indus Law,
                       Advocate for the Applicant.
                       Mr. Pranjit Bhattacharya (through VC) a/w Ms. Divye Dove, Advocate
                       for the Respondent.

                                                 CORAM      :     ABHAY AHUJA, J.

                                                 DATE       :     12th AUGUST, 2024


                       P.C. :

 NIKITA
 YOGESH

GADGIL 1. On 20th June, 2024 the following order was passed:-

"1. Pursuant to earlier orders of this Court, today when the matter is called out, Mr. Bhattacharya, learned Counsel, appears for the Respondent and submits that the on going Corporate Insolvency Resolution Process (CIRP) is listed on 11th July 2024 for consideration of the resolution plan and that the matter be suitably adjourned.

2. Mr. Siganporia, learned Counsel for the Applicant, would submit that the moratorium is against the partners and not against the partnership firm, which is the owner of the assets, and that this Court may consider the same while granting the adjournment.

3. Be that as it may, list on 23rd July 2024."

8-IAL-5794-2023.doc

2. Today when the matter is called out, Mr. Siganporia, learned

Counsel appears for the Applicant and submits that since the

moratorium is against the partners and not against the partnership

firm, which is the owner of the assets, this Court can proceed with the

Execution Application.

3. Mr. Bhattacharya, learned Counsel appears for the Respondent

through video conference and submits that there are two Supreme

Court's judgments which clearly suggest that in the case of moratorium

against the partners, the execution proceedings can not proceed against

the partnership firm.

4. Let the said decisions be circulated for Mr. Siganporia to have his

say on the next date. Let Mr. Siganporia also circulate his notes. List on

9th September, 2024.

(ABHAY AHUJA, J.)