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Bombay High Court
Sandhya Sanjay Sathaye And 2 Ors. vs Siddhivinayk Construction Company ... on 9 December, 2025
Author: Abhay Ahuja
Bench: Abhay Ahuja
34-IA-3547-2025.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION NO. 3547 OF 2025
IN
INTERIM APPLICATION NO. 1121 OF 2022
Parimal Jaswantrai Mehta and another ... Applicants
In the matter between :
Sandhya Sanjay Sathaye and others ... Judgment Creditors
Versus
Siddhivinayak Construction Company
Pvt. Ltd. and another ... Judgment Debtors
And
Parimal Jaswantrai Mehta and another ... Respondents
WITH
INTERIM APPLICATION NO. 1121 OF 2022
INTERIM APPLICATION NO. 3553 OF 2025
COURT RECEIVER'S REPORT NO. 448 OF 2024
IN
EXECUTION APPLICATION NO. 1875 OF 2025
............
Mr. Karl Tamboly alongwith Ms. Fatema Tankiwala instructed by L J
Law, Advocate for the Judgment Creditors.
Ms. Anita Bhattnani, Advocate for Ms. Bindiya Khanolkar, partner of
Respondent No.2.
Mr. Murugan Ponnaiah, Advocate for Mr. Sachin Khanolkar, Director of
Defendant No.1 and Partner of Respondent No.2.
Mr. Yashpal Jain alongwith Ms. Janhavi Vora, instructed by Mr. Yashpal
Jain, Advocate for the Applicant in IA-3547-2025 and for the
Respondents No.3 and 4 in IAL-23127-2023.
Ms. Naina Poojary, Master (Adm) to the Court Receiver.
............
CORAM : ABHAY AHUJA, J.
DATE : 9 DECEMBER 2025
P.C. :
1. This matter has been mentioned out of turn, submitting that
34-IA-3547-2025.doc
pursuant to the non-bailable standing warrants issued under orders of
this Court, Directors and Partners of Respondents No.1 and 2 have been
arrested/have surrendered and brought to this Court and that this
Court may consider releasing them.
2. Mr. Ponnaiah, learned Counsel, appearing for Mr. Sachin
Khanolkar and Ms. Bhattnani, learned Counsel, appearing for Ms.
Bindiya Khanolkar, at the outset apologize to this Court on behalf of
their clients for failing to abide by the orders of this Court.
3. Mr. Tamboly, learned Counsel, appears for the Execution
Applicant and submits that although pursuant to the consent terms
filed between the parties, Flat No.1501 (now Flats No.1501 and 1502)
on the 15th Floor, of the Building known as "Siddhivinayak Habitats",
Shivaji Park, Dadar (West), Mumbai - 400 028 were to be transferred
in the name of the Execution Applicant, however, in breach of the said
consent terms, third party rights in respect of the two flats have been
created and the third party purchasers are also represented today.
4. Mr. Tamboly submits that even disclosure order as directed by
this Court by order dated 12th February 2024 has not been complied
with, and there is an outstanding of Rs.4,56,61,500/- and that neither
flats have been transferred nor monies have been paid.
5. Mr. Tamboly submits that therefore until and unless the
34-IA-3547-2025.doc
outstanding amount is deposited in this Court, this Court may not
release the partners/directors of Respondents No.1 and 2.
6. Mr. Ponnaiah, learned Counsel, appearing for Mr. Sachin
Khanolkar and Ms. Bhattnani, learned Counsel, appearing for Ms.
Bindiya Khanolkar submit that just a couple of days back, copies of two
cheques each an amount of Rs.2.25 Crores have been received, which
are the refund amounts for the amounts paid in the real estate deal,
which has not been fructified and once the amounts are received, they
have instructions to submit to this Court that the said amounts would
be directly paid into the account of the Applicants.
7. Ms. Bhattnani submits that the Respondents are in serious
financial difficulties, although they have intention to make payment of
the outstanding amount to the Execution Applicants and that this Court
may consider the same before passing any orders.
8. There is no doubt, that the conduct of Mr. Sachin Khanolkar
and Ms. Bindiya Khanolkar who are in Court today is pursuant to the
non-bailable standing warrants issued by this Court, as reflected from
the orders passed in the matter, is evasive and contumacious. They
have in the past failed to remain present despite several orders of this
Court as well as bailable warrants and non-bailable warrants issued
against them and an amount of Rs.4,56,61,500/- is also stated to be
34-IA-3547-2025.doc
due.
9. Mr. Tamboly submits that in fact if as per the consent terms,
Flat No.1501 (now Flats No.1501 and 1502) had been transferred to
the Applicants and the Applicants would have property worth over Rs.6
Crores.
10. Keeping the contentions with respect to the contempt of the
orders of this Court open, after hearing the learned Counsel for the
parties, the following order is passed.
11. Subject to Mr. Sachin Khanolkar and Ms. Bindiya Khanolkar
giving undertaking(s) to this Court on oath on the following terms,
they are released and/or permitted to leave the Court premises today :
(a) that they will positively remain present in Court on every date
when the matter is listed.
(b) that the payments to be received from BSK Habitat of the
amounts mentioned in the copies of the cheques shown to the learned
Counsel for the Applicants will be directly deposited with the
Prothonotary & Senior Master of this Court by 7th January 2026.
(c) that the affidavits of disclosure of assets as directed by order
dated 12th February 2024 will be filed and served within a period of one
week.
12. List on 7th January 2026.
(ABHAY AHUJA, J.)
