Transparent Energy Systems Pvt Ltd vs Lloyds Engineering Works Ltd
2024 Latest Caselaw 25162 Bom

Bombay High Court

Transparent Energy Systems Pvt Ltd vs Lloyds Engineering Works Ltd on 2 September, 2024

Author: Abhay Ahuja

Bench: Abhay Ahuja

                                                             909. IAL 24674-24 in COMEXL 23332-24.doc


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

                                INTERIM APPLICATION (L) NO. 24674 OF 2024
                                                  IN
                          COMMERCIAL EXECUTION APPLICATION (L) NO. 23332 OF 2024

                     Transparent Energy Systems Pvt. Ltd.                          ...Applicant
                                 V/s.
                     Lloyds Engineering Works Ltd.                                 ...Respondent

                     Ms. Ajeesha Arif with Mr. Indra Kumar Lahoti i/b Praxix Legal,Advocate
                     for the Applicant.
                     Mr. Harsh Moorjani with Mr. Smeet Savai i/b S. K. Srivastav and
                     Co.,Advocate for the Respondent.

                                               CORAM   :    ABHAY AHUJA, J.

                                               DATE    :    2nd SEPTEMBER, 2024


                     P.C. :

1. This Interim Application seeks execution of award dated 9 th

November, 2023, awarding the Applicant Rs. 23,97,000/- along with

interest @ 24% along with costs of Rs.34,07,647/-.

Digitally signed by NIKITA

3. Ms. Arif, learned Counsel appears for the Applicant and submits NIKITA YOGESH YOGESH GADGIL GADGIL Date:

2024.09.02 18:27:17 +0530 that till date neither any payment has been made nor is there a stay on

the execution, implementation or operation of the award and that this

Court grant relief of disclosure in terms of prayer Clause (a) which

reads thus:-

909. IAL 24674-24 in COMEXL 23332-24.doc

"a) That pending the hearing and final disposal of the Execution Application, this Hon'ble Court be pleased to direct the Judgment Debtor to disclose on affidavit all its movable and immovable assets, including bank accounts shares/securities, investments as per Order XXI Rule 41(2) read with Form No. 16A of Appendix "E" to the Civil Procedure Code, 1908, along with details and particulars in respect thereof such as the nature of Judgment Debtor's interest, rights and ownership in such assets, within one week or within such time as may be prescribed by this Hon'ble Court."

4. Mr. Moorjani, learned Counsel appearing for the Respondent

vehemently urges this Court to adjourn the matter until the Application

under Section 34 of the Arbitration and Conciliation Act, challenging

the award and seeking a stay of the operation, implementation and

execution of the said award is heard by another bench of this Court.

5. Having heard the learned Counsel and having considered their

submissions and noting that there being no stay on the operation,

implementation or execution of the subject award, this Court is of the

view that no prejudice would be caused in granting relief in terms of

prayer Clause (a) as above.

6. Let the Managing Director/Executive Director of the Respondent

file an affidavit on oath in terms of prayer Clause (a) as above, within a

period of four weeks. List on 14th October, 2024.

(ABHAY AHUJA, J.)