Tara Properties Private Limited vs Arcl Organics Limited
2025 Latest Caselaw 2193 Cal/2

Calcutta High Court

Tara Properties Private Limited vs Arcl Organics Limited on 28 August, 2025

OD- 4

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

                              IA NO. GA/1/2025
                                In EC/69/2024
                      TARA PROPERTIES PRIVATE LIMITED
                                      Vs
                           ARCL ORGANICS LIMITED
BEFORE:
The Hon'ble JUSTICE BISWAROOP CHOWDHURY

Date : 28th August, 2025.

APPEARANCE:

Mr. Sakya Sen, Sr. Adv.

Mr. Sourojit Dasgupta, Adv.

Mr. Aasish Chowdhury, Adv.

Mrs. Uma Bagree, Adv.

..for the judgment debtor.

The Court:- Learned advocates for the parties are present.

Mr. Sen has prayed that his client be permitted to deposit the amount of

Rs. 5,18,44,940/- before this Court in terms of the order dated 1 st July, 2025

passed by this Court. Mr. Mitra objects to the prayer and submits that this is

only with regard to the principal sum and the interest due is not secured by

the judgment debtor. At this, Mr. Sen gives a suggestion that his client is ready

and willing to deposit Rs. 7 crore before the Registrar.

In such circumstances, as the dispute is with regard to the calculation of

the interest amount, the matter can be settled through mediation. Thus, the

judgment debtor is directed to deposit Rs. 7 crore before the Registrar, Original

Side. Such deposit shall be made within two weeks from the date of this order.

The decree holder may withdraw this deposit upon furnishing all necessary

securities. The matter requires mediation for the purpose of settlement.

Learned mediator is requested to resolve the disputes between the parties and

submit a report before 23.09.2025. Justice Subrata Talukder, a former Judge

of this Court is appointed as mediator.

Upon deposit being made, the judgment debtor is permitted to operate

the Bank Account till 23.09.2025 only with regard to urgent business

transaction. Thereafter, the report of expenditure incurred till 23 rd September,

2025, shall be submitted by the judgment debtor. In the event, the judgment

debtor finds necessity due to some exigency to withdraw huge amount apart

from business transactions, the same amount is not to be withdrawn without

leave from this Court. Learned Registrar, Original Side shall deposit Rs. 7 crore

in a nationalized Bank under the fixed deposit.

Let a copy of this order be sent to the Secretary, Calcutta High Court

Mediation Committee.

Let the matter appear on 23.09.2025 under the same heading.

(BISWAROOP CHOWDHURY, J.)

Arsad, AR(CR)