Kotak Mahindra Bank Ltd vs Krishna Kant & Anr
2023 Latest Caselaw 151 Cal/2

ODC 10
                               ORDER SHEET
                             IA NO. GA/3/2023
                              IN EC/685/2015
                     IN THE HIGH COURT AT CALCUTTA
                   ORDINARY ORIGINAL CIVIL JURISDICTION
                          COMMERCIAL DIVISION


                         KOTAK MAHINDRA BANK LTD.
                                    Vs
                            KRISHNA KANT & ANR.


  BEFORE:
  The Hon'ble JUSTICE SHEKHAR B. SARAF

Date: 16th January, 2023.

Appearance:

Ms. Shrayshee Das, Adv.

Mr. Jishnujit Roy, Adv.

The Court: This is an application filed by the award-holder praying for

vacating of the injunction order passed by this Hon'ble Court over the property of

the award debtor no.1.

This Hon'ble Court had transferred this instant Execution Application

before the Mahoba Court at Uttar Pradesh by an order dated October 3, 2018,

with an injunction over the immovable property of the judgment debtor which

was within the jurisdiction of that Court.

The award holder states that subsequently the award debtor no.1 received

an amount of Rs.20 lakhs from a litigation that he was successful before the

District Consumer Forum, Mahoba in CC No.46 of 2016. Accordingly, the

parties had entered into a Memorandum of Understanding whereby ICICI

Lombard General Insurance Company was to relsease Rs.16,50,000/- in favour

of the award holder and Rs.3,50,000/- in favour of the award debtor no.1.

The award debtor no.1 has already received Rs.3,50,000/- but as

submitted by the advocate of the award holder Rs.16,50,000/- has not been

received by the award holder as per the Memorandum of Understanding. The

award debtor no.1 needs to give a 'No Objection' for such release of

Rs.16,50,000/- in favour of the award holder so that the ICICI Lombard General

Insurance Company and District Forum can release the amount.

The award debtor no.1 has approached the award holder stating that such

'No Objection' would only be released if the injunction on his property which was

directed by the High Court at Calcutta by an Order dated October 3, 2018 is

vacated from his property.

The advocate appearing for the award holder submits before the Hon'ble

Court that the award holder do not have any objection for vacating of the order of

injunction over the property as more fully described in paragraph 6 of this

application.

In view of the above, this Court passed an order in terms of the prayers (a),

(b) and (c) of the Master Summons.

Accordingly, EC 685 of 2015 with GA No.3 of 2023 is disposed of

accordingly.

(SHEKHAR B. SARAF, J.) sp/