Bombay High Court
Trisons Developers Llp vs National Agricultural Cooperative ... on 17 September, 2025
Author: Abhay Ahuja
Bench: Abhay Ahuja
4. IA 2683-25 in EXA 581-10.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION NO. 2683 OF 2025
IN
EXECUTION APPLICATION NO. 581 OF 2010
Trisons Developers LLP ...Applicant
In the matter between
National Agricultural Co-Operative Marketing ...Judgment Cr.
V/s.
Swarup Group of Industries and Ors. ...Respondents
Mr. Devashis Godbole with Mr. Ryan Peters for the Applicant in IA.
Mr. Rahul Narichania, Senior Advocate with Ms. Kaizan Irani and Mr.
Prasad Das i/b Das Associates for the Judgment Debtors No. 1 and 2.
Mr. Shashipal Shankar, for the Claimant.
Mr. Aseem Naphade with Mr. D. V. Deokar and Mr. D. Parikh i/b Parimal
K. Shroff & Co. for the Respondent No.3.
CORAM : ABHAY AHUJA, J.
DATE : 17th SEPTEMBER, 2025
P.C. :
1. The circulation of this matter has been sought by praecipe dated
10th September, 2025.
2. When the matter is called out, Mr. Godbole, learned Counsel
appears for the Applicant and submits that the mediation was
successful and consent terms have been signed on 8 th September, 2025
between the Applicant-Judgment Creditor and the Respondent No.3-
Developer in respect of 21 office spaces of Mega Mall at Goregaon
admeasuring 49028 sq ft, which were auctioned by the Sheriff of
4. IA 2683-25 in EXA 581-10.doc
Mumbai on as is where is basis and what it is basis to the Applicant. Mr.
Godbole submits that earlier Rs. 50 lacs was paid as earnest money out
of the entire amount of Rs. 64 Crs and that the balance amount of Rs.
63.50 Crs would be paid in accordance with Clause III of the consent
terms.
3. Mr. Godbole submits that Rs. 16 Cr would be paid within a
period of three weeks from today and the balance amount of Rs. 47.50
Crs would be paid within 30 days after making the first payment of Rs.
16 Crs.
4. Learned Counsel appearing for the Judgment Creditor and for
the Respondent No.3 have no objection if the said consent terms are
taken on record.
5. The learned Counsel appearing in the matter submit that with
respect to the balance 9 units, the Chamber Summons No. 1206 of
2018 in the Execution Application No. 581 of 2010 would need to be
heard.
6. This Court is informed that the mediation report has also been
submitted in a sealed cover. Under the directions of this Court, the
mediation report is opened and the same is perused.
4. IA 2683-25 in EXA 581-10.doc
7. Mr. Narichania, learned Senior Counsel appearing for the
Judgment Debtors No. 1 and 2 has submitted that he is not aware of
the details of the mediation report or of the consent terms and that
permission be granted to take inspection of the same and thereafter,
this Court consider taking the consent terms on record.
8. Mr. Godbole submits that the copy of the consent terms was
already emailed to the Respondents- Judgment Debtors No. 1 and 2 on
16th September, 2025 at 4.30 p.m. and copy of the same has been
handed over to Mr. Narichania, learned Senior Counsel appearing for
the Respondents No. 1 and 2.
9. While the Judgment Debtors No. 1 and 2 are at liberty to take
inspection and certified copy of the mediation report upon necessary
application being made in this regard, I am of the view that considering
the contents of the mediation report it would not be necessary to await
the said inspection by the Judgment Debtors No. 1 and 2.
10. Learned Mediator appointed by this Court pursuant to the order
dated 22nd April, 2025, has clearly recorded in paragraph 4 that initial
meetings were attended by or on behalf of all the stakeholders i.e.
Trison Developers LLP viz. the Respondent No.5, NAFED viz. the
Judgment Creditor and M/s Silver Moon Construction Pvt. Ltd. viz. the
4. IA 2683-25 in EXA 581-10.doc
Respondent No.3 as well as Guru Swaroop Group viz. the Judgment
Debtors No. 1 and 2, however, subsequently in some of the meetings
the representatives of the Guru Swaroop Group did not remain present.
11. It has been clearly recorded in paragraph 4 that for all the
meetings, intimation / communication was sent to all the parties or
their representatives. In paragraph 5, it has also been recorded that
during multiple meetings when negotiations took place primarily
between the auction seller i.e. NAFED, auction purchaser i.e. M/s
Trisons Developers LLP and M/s Silver Moon Construction Pvt. Ltd.,
Advocates for Swaroop Group had strongly opposed almost all the
formulas suggested by the parties. That they were plainly opposed to
any part of the sale consideration of Rs. 64 Crs being paid by the
auction purchaser to be reduced and diverted to satisfy the pending
maintenance dues of M/s Silver Moon Construction Pvt. Ltd.
12. The learned Mediator has further stated in paragraph 6 of the
report that three entities i.e. M/s Trisons Developers, NAFED and M/s
Silver Moon Construction Pvt. Ltd. nevertheless carried on the
negotiations which culminated into a negotiated settlement between
the three of them, which has been reduced in writing and duly
executed as consent terms.
4. IA 2683-25 in EXA 581-10.doc
13. The learned Mediator has opined that these consent terms which
have been executed between the parties after prolonged discussions
and negotiations which took place during multiple meetings present
the only fair and practical resolution.
14. The learned Mediator has also noted that dues of the borrowers
had remained unpaid since several years and that according to NAFED,
the same are to the tune of Rs. 550/- Crs. approximately and that
previously there were multiple failed auction attempts since no offers
were received.
15. Learned Mediator has attached the consent terms dated 8 th
September, 2025, to his report which is placed before this Court for
necessary action.
16. The order appointing Chief Justice Mr. Akil Kureshi (Retd.) as
Mediator has never been challenged. The learned Mediator, as noted
above has opined that the consent terms have been arrived at after
several attempts of negotiations between the parties and present the
only fair and practical resolution. The three parties have signed the
consent terms. No case is made out not to take the consent terms on
record.
4. IA 2683-25 in EXA 581-10.doc
17. Accordingly, the said consent terms are taken on record and
marked 'X' for the purposes of identification. The undertakings
contained in the consent terms are accepted as undertakings to the
Court.
18. List on 26th November, 2025 along with Chamber Summons No.
1206 of 2018.
Sheriff's Report No. 24 of 2025.
19. Since none is present on behalf of the Sheriff, list on 26th
November, 2025.
(ABHAY AHUJA, J.)
Digitally
signed by
NIKITA
NIKITA YOGESH
YOGESH GADGIL
GADGIL Date:
2025.09.17
18:42:41
+0530
