L And T Finance Ltd vs Pranav Shrigopal Kabra (Borrower) And ...
2024 Latest Caselaw 584 Bom

Bombay High Court

L And T Finance Ltd vs Pranav Shrigopal Kabra (Borrower) And ... on 10 January, 2024

Author: R.I. Chagla

Bench: R.I. Chagla

                                                                 26-ia-1955-2022.doc

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

                        INTERIM APPLICATION NO.1955 OF 2022
                                        IN
                     EXECUTION APPLICATION (L) NO.5258 OF 2022

       L & T Finance Ltd.                                    ...Applicant /
       (Formerly known as L & T Housing Finance              Claimant
       Ltd.)

               Versus

       Pranav Shrigopal Kabra & Anr.                         ...Respondents

                                        ----------
       A. Bangera i/b. Disha Karambar and Associates for the Applicant /
       Claimant.
                                        ----------

                                        CORAM : R.I. CHAGLA J.

                                        DATE         : 10TH JANUARY, 2024.

       ORDER :

1. The learned Advocate appearing for the Applicant /

Decree Holder has tendered Affidavit of Service which shows that

Respondent No.1 has received notice dated 16th February, 2023

along with Interim Application by hand delivery. The receipt of

service is also on behalf of Respondent No.2. Thus, these

Respondents have been served with the Interim Application and

26-ia-1955-2022.doc

Execution Application. The Affidavit of Service dated 16th February,

2023 is taken on record.

2. The learned Advocate appearing for the Applicant /

Claimant has sought disclosure order in terms of prayer Clause (b) of

the Interim Application.

3. I have considered that the Award has been passed on 4th

January, 2020 under which the Respondents are to pay

Rs.2,12,69,862.65 along with 18% p.a. interest from the date of the

passing of the award till payment and / or realization thereof and

that no payments have been made by the Respondents / Judgment

Debtors under the said Award. Further, there are no proceedings filed

under Section 34 of the Arbitration and Conciliation Act, 1996

challenging the Award. In view thereof, the ad-interim relief sought

for by the Applicant / Decree Holder requires to be granted.

4. Hence, the following order is passed:-

(i) Ad-interim order is granted in terms of prayer Clause (b) of

the Interim Application, which reads thus:-

26-ia-1955-2022.doc

"(b) That the Respondents above named be required by an order of this Hon'ble Court to file their Affidavit stating particulars of their properties etc., as provided under Order XXI Rule 41 of the Code of Civil Procedure, 1908 since the Decree / Award dated 11th March, 2019 passed by the learned Arbitral Tribunal has remained unsatisfied for more than 30 days from the date of its passing."

(ii) The Respondents shall file Affidavit of Disclosure within a

period of four weeks from today.

(iii) The Advocate for the Applicant / Decree Holder shall serve

notice of this Order on the Respondents and file Affidavit of

Service to that effect on or before the next date.

(iv) The Interim Application shall be placed on 21st February,

2024.

[ R.I. CHAGLA J. ]