Kalpana Struct Con Pvt Ltd vs Shah Group Builders And Infraprojects ...
2024 Latest Caselaw 3382 Bom

Bombay High Court

Kalpana Struct Con Pvt Ltd vs Shah Group Builders And Infraprojects ... on 5 February, 2024

Author: Abhay Ahuja

Bench: Abhay Ahuja

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

                 INTERIM APPLICATION NO.2737 OF 2023
                                  IN
           COMMERCIAL EXECUTION APPLICATION NO.16973 OF 2023

 Kalpana Struct-Con Private Limited ... Applicant/Judgment Creditor
       Vs.
 Shah Group Builders and
 Infraprojects Limited                 ... Respondent/Judgment Debtor
                                   -------

 Mr. Mayur Khandeparkar with Mr. Rushabh Sheth, Ms. Ayesha Qureshi
 and Mr. Pratik Amin i/by M/s Pratik Amin Associates, Advocates for the
 Applicant/Judgment Creditor.
 Mr. Rushabh Thacker with Ms. Pankti Nishar i/ny Mr. Rushabh Thacker,
 Advocates for the Respondent/Judgment Debtor.
                                -------

                            CORAM :   ABHAY AHUJA, J.

                            DATE :    05 FEBRUARY, 2024.
 P.C. :

1. This matter was kept back in the morning session as the learned

Advocate for the Judgment Debtor was not available.

2. When the matter is called out in the afternoon session, Mr. Rushabh

Thacker, learned Advocate for the Judgment Debtor informs that the

company has come out of the National Company Law Tribunal ("NCLT")

proceedings only on 8th January, 2024, but the IRP/RP is yet to hand over

Priya R. Soparkar 1 of 3

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the affairs of the company back to the management and some time be

granted in the matter.

3. Mr. Mayur Khandeparkar with Mr. Rushabh Sheth, learned counsel

for the Applicant would submit that the Interim Applicant is only seeking

disclosure of the assets of the Judgment Debtor and no harm would be

caused, if the said prayer is granted.

4. Having heard the learned counsel and having considered that the

award is of 15th April, 2023 and although the appeal has been filed against

the award on 24th May, 2023, there is no stay on the execution as yet and

that the Judgment Creditor is only seeking a disclosure of assets, I do

not see any harm or prejudice being caused to the case of the Judgment

Debtor, if the prayer in terms of prayer clause (a) is allowed. Accordingly,

relief in terms of prayer clause (a) which reads thus:-

"That this Hon'ble Court be pleased to pass an order under Order XXI Rule 41 of the Code of Civil Procedure, 1908 directing the Respondent to disclose on oath, all its assets, bank accounts and properties (movable and immovable, tangible and intangible) owned by the Respondent."

   Priya R. Soparkar                                                                  2 of 3



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5. Let the Judgment Debtor disclose on oath all its assets, bank

accounts and properties (movable and immovable, tangible and

intangible) owned by the Respondent within a period of four weeks.

6. In the meanwhile, the Respondent is restrained from in any manner

dealing with the fixed assets of the company.

7. Let reply, if any, be filed within a period of four weeks with copy to

the other side.

8. List on 4th March, 2024.

                                                  (ABHAY AHUJA, J.)




   Priya R. Soparkar                                                                  3 of 3