Bombay High Court
Asian Natural Resources (India) Ltd. ... vs Vitol S. A. (Org. Res. /Awd. Holder) And 3 ... on 26 August, 2025
Author: Abhay Ahuja
Bench: Abhay Ahuja
904. CRR 438-23 in EXA 240-11 @ connected matters.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COURT RECEIVER'S REPORT NO. 438 OF 2023
IN
EXECUTION APPLICATION NO. 240 OF 2011
Asian Natural Resources (India) Ltd. ... Applicant
Versus
Vitol S.A. ... Respondent
WITH
NOTICE OF MOTION NO. 371 OF 2017
CHAMBER SUMMONS NO. 238 OF 2019
IN
CHAMBER SUMMONS NO. 14 OF 2017
WITH
CHAMBER SUMMONS NO. 76 OF 2017
IN
EXECUTION APPLICATION NO. 240 OF 2011
WITH
CHAMBER SUMMONS NO. 542 OF 2016
IN
CHAMBER SUMMONS NO. 1447 OF 2015
WITH
CHAMBER SUMMONS NO. 1447 OF 2015
IN
EXECUTION APPLICATION NO. 240 OF 2011
WITH
NOTICE OF MOTION (L) NO. 2214 OF 2015
CHAMBER SUMMONS NO. 542 OF 2016
CHAMBER SUMMONS (L) NO. 1305 OF 2019
INTERIM APPLICATION NO. 45 OF 2025
CONTEMPT PETITION NO. 34 OF 2016
CHAMBER SUMMONS NO. 1610 OF 2016
IN
CHAMBER SUMMONS NO. 1447 OF 2015
WITH
CHAMBER SUMMONS NO. 749 OF 2019
IN
CHAMBER SUMMONS NO. 305 OF 2019
WITH
Nikita Gadgil 1/3
::: Uploaded on - 26/08/2025 ::: Downloaded on - 26/08/2025 21:41:37 :::
904. CRR 438-23 in EXA 240-11 @ connected matters.doc
CHAMBER SUMMONS NO. 1056 OF 2014
IN
EXECUTION APPLICATION NO. 240 OF 2011
Ms. Naira Jeejeebhoy with Mr. Harsh Bhagirath and Mr. Samrat
Banerjee Buch i/b Bose & Mitra & Co., Advocate for the Award Holder.
Mr. Rakesh Agrawal for the Applicant in CHS 305 of 2019.
Mr. Aman Shukla i/b Mr. Rohit Dubey for the Union Bank of India.
Mr. Ashok Dhanuka for the Judgment Debtor /Applicant in CHSL 1305
of 2019.
Ms. Nandini Deshpande, 1st Assistant to the Court Receiver present.
CORAM : ABHAY AHUJA, J.
DATE : 26th AUGUST, 2025
P.C. :
1. Pursuant to the earlier orders of this Court, today when the
matter is called out, Mr. Shukla, learned Counsel appears for the Union
Bank of India and submits that he has instructions that the Union Bank
of India would not be solely able to bare the fees of the valuer to be
appointed for the fresh valuation of the suit cargo (coal) lying at
Magadalla and Dharamtar Ports as the Union Bank of India is not the
only bank having the charge of the suit cargo.
2. Ms. Jeejeebhoy, learned Counsel appearing for the Award Holder
suggests that this Court may direct fresh valuation of the suit cargo by
Geochem Laboratories Private Limited and the costs of valuation can be
equally born by all the stake holders including the Award Holder as
well as the Judgment Debtor and the Union Bank of India to be later on
adjusted against the sale proceeds of the suit cargo.
904. CRR 438-23 in EXA 240-11 @ connected matters.doc
3. Having heard the learned Counsel and having considered the
submissions and being informed that the suit cargo has been lying in
the Magadalla and Dharamtar Ports since 2016 and earlier auction has
not resulted in any offer, this Court directs that the Geochem
Laboratories Private Limited, be appointed to conduct a fresh valuation
of the suit cargo lying at Magadalla and Dharamtar Ports and submit a
report within a period of six weeks.
4. The costs, charges and expenses of the valuation be equally
borne by the Judgment Creditor, Judgment Debtor and the Union Bank
of India to be adjusted against the sale proceeds of the suit cargo.
5. The parties are at liberty to file response to the report of the
Prothonotary & Senior Master that they may have inspected with copy
to the others.
6. List on 14th October, 2025.
(ABHAY AHUJA, J.)
