J C Flowers Asset Reconstruction ... vs Bharat Kishormal Shah
2024 Latest Caselaw 24749 Bom

Bombay High Court

J C Flowers Asset Reconstruction ... vs Bharat Kishormal Shah on 26 August, 2024

Author: Abhay Ahuja

Bench: Abhay Ahuja

                                                                                 15-IA(L)-5639-2024.doc


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

                                   INTERIM APPLICATION (L) NO. 5639 OF 2024
                                                     IN
                               COMMERCIAL EXECUTION APPLICATION NO. 64 OF 2023

                      J C FLOWER ASSET RECONSTRUCTION                       )
                      PRIVATE LIMITED                                       )...APPLICANT
                                                    IN THE MATTER BETWEEN
                      BHARAT KISHORMAL SHAH & ORS.                  )...JUDGMENT CREDITORS
                               V/s.
                      RAMESH SUMERMAL SHAH & ORS.                   )...JUDGMENT DEBTORS

                      Ms.Anamika Singh a/w. Mr.Kushal Boolchandani i/by Indus Law,
                      Advocate for the Applicant in IAL/5639/2024.
                      Mr.Rohan Savant and Mr.H.S.Khokhawala i/by Nankani & Associates,
                      Advocate for the Judgment Creditors.
                      Mr.Ankit Lohia a/w. Mr.Chirag Sarawagi a/w. Ms.Riya Thakkar i/by
                      Mr.Tushar Goradia, Advocate for the Judgment Debtors.

                                                      CORAM    :    ABHAY AHUJA, J.

                                                      DATE     :    26th AUGUST 2024

                      P.C. :

1. Pursuant to order dated 15th April 2024, today when the matter Digitally signed by

ARTI ARTI VILAS KHATATE is called out, Mr.Lohia, learned Counsel for the Judgment debtors, VILAS KHATATE Date:

2024.08.27 17:44:51 +0530 tenders across the bar order dated 8 th May 2024 in Interim Application

(Lodging) No. 13398 of 2023 in Commercial Arbitration Petition

15-IA(L)-5639-2024.doc

(Lodging) No. 10500 of 2023 and draws the attention of this Court to

paragraph 82 whereby the effect, implementation and enforcement of

the interim award dated 15th December 2022 corrected by order dated

23rd December 2022 passed by the Arbitral Tribunal has been stayed.

Mr.Lohia, accordingly, submits that the attachment cannot continue and

the matter be removed from board and the injunction also cannot be

continued.

2. Ms.Singh, learned Counsel, appears for the Applicant and

submits that the status-quo order be continued as another application

for seeking warrant of attachment is being filed.

3. Mr.Savant, learned Counsel, appears for the Judgment creditors

and submits to the orders of this Court.

4. Having heard the learned Counsel, in view of order dated 8th May

2024, the execution proceedings including the connected Interim

Application are stayed.

5. Remove from board. Liberty to apply.

(ABHAY AHUJA, J.)