Candor Gurgaon Two Developers And ... vs Srei Infrastructure Finance Ltd
2023 Latest Caselaw 2681 Cal/2

OD-1 to 3

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

EC/429/2019 IA NO.GA/1/2020 (OLD NO.GA/277/2020) GA/2/2023 CANDOR GURGAON TWO DEVELOPERS AND PROJECTS PVT. LTD.

VERSUS SREI INFRASTRUCTURE FINANCE LTD.

EC/459/2019 IA NO.GA/1/2020 (OLD NO.GA/278/2020) CANDOR GURGAON TWO DEVELOPERS AND PROJECTS PVT. LTD.

VERSUS SREI INFRASTRUCTURE FINANCE LTD.

EC/460/2019 IA NO.GA/1/2020 (OLD NO.GA/279/2020) CANDOR GURGAON TWO DEVELOPERS AND PROJECTS PVT. LTD.

VERSUS SREI INFRASTRUCTURE FINANCE LTD.

BEFORE The Hon'ble Justice SIDDHARTHA ROY CHOWDHURY Date: 22nd September, 2023 APPEARANCE Mr. Ranjan Bachawat, Senior Advocate Mr. Akash Bajaj, Advocate Mr. Shubhrojyoti Mookherjee, Advocate Mr. Megha Shaw, Advocate ....for the decree-holder Mr. Jishnu Saha, Senior Advocate (VC) Mr. Swatarup Banerjee, Advocate Mr. Aditya Kanodia, Advocate ....for the judgment-debtor Mr. Om Narayan Rai, Advocate Mr. Rajdeep Mantha, Advocate ...for the UBI & Indian Bank

The Court: Affidavits filed in the three execution proceedings on

behalf of the award-debtor are taken on record.

2. Heard Mr. Bachawat, learned senior counsel for the award-

holder. It is submitted by Mr. Bachawat that since the moratorium is no

longer holding the field, the application for stay has lost its vitality to

survive. But, according to Mr. Jishnu Saha, learned senior counsel for the

award-debtor, in a changed circumstance, the order of dismissal should

remain in force.

3. In such circumstances, I am not inclined to dispose of the

application for stay filed on behalf of the award-debtor at this stage. The

petitions will be disposed of along with the applications.

4. Heard Mr. Om Narayan Rai, learned counsel for the Union

Bank of India and Indian Bank. Liberty is given to Mr. Rai to submit a short

note, specially touching upon the accounting part, annexed to their

affidavit.

5. Let the matter be listed on 4th October, 2023 at 10:30 AM.

6. The award-holder is directed to file an affidavit in the changed

circumstances indicating the extent of their claim and source thereof, by the

date fixed.

(SIDDHARTHA ROY CHOWDHURY, J.)

akg/