Manav Investment & Trading ... vs Dbs Bank India Limited
2022 Latest Caselaw 1026 Cal/2

ODUL
                                ORDER SHEET

                               GA No. 1 of 2022
                               CS No. 67 of 2022

                      IN THE HIGH COURT AT CALCUTTA
                       Ordinary Original Civil Jurisdiction
                                ORIGINAL SIDE
                             (Commercial Division)

            MANAV INVESTMENT & TRADING COMPANY LIMITED
                                 Vs
                       DBS BANK INDIA LIMITED


  BEFORE:
  The Hon'ble JUSTICE SHEKHAR B. SARAF
  Date : 28th March, 2022


                                                                     Appearance:
                                                       Mr. Dhruba Ghosh, Sr. Adv.
                                                            Mr. Anirban Ray, Adv.
                                                          Mr. Rajarshi Dutta, Adv.
                                                             Mr. V.V. Sastry, Adv.
                                                         Mr. Debojyoti Saha, Adv.
                                                        Mr. Pankaj Agarwal, Adv.
                                                         Ms. Paramita Maity, Adv.

                                                           Mr. Sakabda Roy, Adv.
                                                       Ms. Trisha Mukherjee, Adv.



       The Court: Heard Counsel appearing on behalf of the parties.

       By a judgment dated 16th February, 2022, this Court had set aside two

notices under Section 176 of the Contract Act. Subsequent to the same, the

respondent bank has issued two further notices dated 23rd February, 2022

with regard to invocation and sale of the pledged equity shares.

Leave is sought to file a supplementary affidavit. The same is allowed.

Copy of the same has been served upon Counsel appearing on behalf of the

respondent.

The supplementary affidavit indicates that subsequent to issue of two

notices dated 23rd February, 2022, the pledged equity shares have been

transferred to the depository account of the respondent bank.

Counsel on behalf of the respondent submits that he is led by Mr. Jishnu

Saha, Senior Advocate and accordingly prays that the matter be taken up on

Monday at 2p.m.

Accordingly, let the matter appear on Monday (04.04.2022) at 2p.m.

In the interim, I direct that the respondent bank does not transfer,

alienate or dispose of in any manner the shares that are the subject matter of

the suit.

The interim order passed above shall continue till April 11, 2022 or until

further order, whichever is earlier.

(SHEKHAR B. SARAF, J.)

R.Bhar