Contemporary Brokers Private ... vs Williamson Magor And Co. Limited
2023 Latest Caselaw 2763 Cal/2

OCD-86
                              ORDER SHEET
                    IN THE HIGH COURT AT CALCUTTA
                     Ordinary Original Civil Jurisdiction
                              ORIGINAL SIDE
                           (Commercial Division)

                               EC/189/2023

          CONTEMPORARY BROKERS PRIVATE LIMITED AND ANR.
                              VS
                WILLIAMSON MAGOR AND CO. LIMITED


  BEFORE:
  The Hon'ble JUSTICE MOUSHUMI BHATTACHARYA

Date : 3rd October, 2023.

Appearance:

Mr. Ratnanko Banerji, Sr. Adv.

Mr. Deepan Kr. Sarkar, Adv.

Ms. Ashika Daga, Adv.

...for the decree-holder

Mr. Ritoban Sarkar, Adv.

Mr. Barnik Ghosh, Adv.

...for the judgment-debtor

The Court:- It appears from the submissions made on behalf of the

parties that the judgment-debtor has paid Rs.25 lakhs after 19th September,

2023 which was the last order passed by this Court.

The judgment-debtor has not paid Rs.50 lakhs which was supposed to be

paid by 29th September, 2023. Learned counsel appearing for the judgment-

debtor submits that flagship company of the judgment-debtor is undergoing

restructuring and is on the verge of entering into a One Time Settlement with

the Banks. Counsel submits that the judgment-debtor will pay Rs.50 lakhs

within a week from today and urges the Court to keep the matter on 13th

October, 2023.

As noted in the last order, there is an outstanding of Rs.1.50 crores

which remains to be paid by the judgment-debtor. The total decretal dues

amount is Rs.8.50 crores along with interest.

Counsel appearing for the judgment-debtor submits that the payment

will be made by 10th October, 2023. The judgment-debtor will also come with

the proposal for repayment of the due amount of Rs.1 crore on the next date

subject to the judgment-debtor paying Rs.50 lakhs by 10th October, 2023.

List this matter on 13th October, 2023 as prayed for on behalf of the

judgment-debtor.

In the event, the judgment-debtor fails to pay any further amounts, the

Court proposes to pass an order for furnishing of security on the returnable

date.

(MOUSHUMI BHATTACHARYA, J.)

T.O.

A.R.(C.R.)