Kotak Mahindra Bank Limited vs Baahubali Ferro Tech And Power Pvt. Ltd. ...
2024 Latest Caselaw 2507 Cal/2

Calcutta High Court

Kotak Mahindra Bank Limited vs Baahubali Ferro Tech And Power Pvt. Ltd. ... on 6 August, 2024

Author: Ravi Krishan Kapur

Bench: Ravi Krishan Kapur

OD-3
                             ORDER SHEET

                  IN THE HIGH COURT AT CALCUTTA
                ORDINARY ORIGINAL CIVIL JURISDICTION
                           ORIGINAL SIDE


                             IA NO. GA/4/2023
                              In EC/520/2013
                      KOTAK MAHINDRA BANK LIMITED
                                  VS
            BAAHUBALI FERRO TECH AND POWER PVT. LTD. AND ANR

BEFORE:
The Hon'ble JUSTICE RAVI KRISHAN KAPUR

Date: 6th August, 2024.

Appearance:

Mr. Swatarup Banerjee, Advocate Mr. Paritosh Sinha, Advocate Ms. Shrayashee Das, Advocate Ms. Himanshu Bhawsinghka, Advocate Mr. Rohan Kr. Thakur, Advocate ... for award-holder.

Mr. D. N. Sharma, Adv.

Mr. S. Jain, Advocate Mr. Farhan Ghaffar, Advocate ... for the judgment-debtor.

The Court : A letter dated 2nd August, 2024 furnished by the

judgment-debtor to the award-holder is filed in Court. It appears from the

said letter that the judgment debtor has offered to pay an aggregate amount

of Rs.51 lakh to the award-holder in full and final settlement. It also

appears from the said letter that the judgment debtor is in a position to pay

an upfront amount of 50% and the remaining amount within 30 days.

In view of the offer made by the judgment-debtor, list this matter on

12th August 2024.

In the meantime, the judgment-debtor is directed to pay an upfront

amount of 50% of Rs.51 lakhs i.e. Rs.25,50,000/- prior to the returnable

date to the award holder.

This is without prejudice to the rights and contentions of the parties.

Significantly, the awarded amount on account of principal itself is in

excess of Rs.3 crores.

(RAVI KRISHAN KAPUR, J.)

nm