Manas Forging Private Limited vs Bikash Agarwal
2023 Latest Caselaw 2018 Cal/2

O-80
                      IN THE HIGH COURT AT CALCUTTA
                       Ordinary Original Civil Jurisdiction
                                ORIGINAL SIDE

                                 EC/290/2019

                      MANAS FORGING PRIVATE LIMITED
                                   VS
                             BIKASH AGARWAL

  BEFORE:
  The Hon'ble JUSTICE RAVI KRISHAN KAPUR

Date : 11th August, 2023.

Appearance:

Mr. Pranit Bag, Adv.

Mr. Debsoumya Basak, Adv.

Mr. S. Dasgupta, Adv.

The Court: This is an application for execution of a decree dated 20

December, 2018. By the decree, the judgment-debtor has been directed to pay a

sum of Rs.35,26,151/-.

It is submitted on behalf of the judgment-debtor that in terms of The

Micro, Small and Medium Enterprises Development Act, 2006 the judgment-

debtor has challenged the decree dated 20 December, 2018.

It is also submitted on behalf of the decree-holder that 75% of the sum

has been deposited with the Registrar, Original Side.

It is submitted that there is an application under Section 34 of the

Arbitration & Conciliation Act, 1996 pending before this Court. Significantly, no

application under sub-section (2) of Section 36 of the Act has been filed and

there is no stay or embargo in proceeding with this execution application.

In such circumstances, the Registrar, Original Side is directed to encash

the bank guarantee and direct payment of the entire amount to the decree-

holder.

The judgment-debtor is also directed to take instructions as to the mode

and manner for satisfying the remaining balance of the decretal dues i.e., 25%.

Let this matter appear on 29 August, 2023.

All parties including the Original Side are directed to act on a copy of this

order.

(RAVI KRISHAN KAPUR, J.)

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