Veikle Grain Ltd vs Vijaywargi Pulses And Grains Agency ...
2025 Latest Caselaw 1453 Cal/2

Calcutta High Court

Veikle Grain Ltd vs Vijaywargi Pulses And Grains Agency ... on 19 March, 2025

Author: Ravi Krishan Kapur

Bench: Ravi Krishan Kapur

OIPD-19 IN THE HIGH COURT AT CALCUTTA ORIGINAL SIDE Ordinary Original Civil Jurisdiction

EC/113/2019 IA NO: GA/2/2024

VEIKLE GRAIN LTD.

VS VIJAYWARGI PULSES AND GRAINS AGENCY PVT. LTD.

Before:

The Hon'ble Justice RAVI KRISHAN KAPUR Date: 19th March 2025

Appearance:

Mr. Mainak Bose, Sr. Adv.

Ms. Noelle Banerjee, Adv.

Mr. Debdatta Ray Chaudhury, Adv.

..for award holder.

Mr. Aritra Basu, Adv.

Mr. Pintu Ghosh, Adv.

Mr. Soham Sen, Adv.

...for judgment debtor.

Ms. P. Roy Chowdhury, Adv.

Ms. Payel Ghosh, Adv.

..for Punjab National Bank.

Mr. Bhaskar Mukherjee, Adv.

Mr. D. Dutta, Adv.

...for HDFC Bank.

The Court: This is an application for execution of an award dated 15 July

2014.

The matter has been pending for more than a decade. Despite efforts, the

decree holder has been unable to obtain any satisfaction either in part or whole of

the awarded amount. The award holder has also taken all efforts to ascertain any

assets, whether movable or immovable, belonging to the judgment debtor.

Pursuant to orders of Court, the Punjab National Bank is represented.

It appears from records that in respect of dues payable to the Punjab

National Bank, an amount of Rupees. 21,56,000/- remains due and payable.

During the pendency of the proceedings, the Punjab National Bank, had

initiated proceedings under the provisions of the SARFAESI but have still not sold

the secured asset being premises No. 4, Ganesh Chandra Avenue, Kolkata 700013

which is approximately 750 sq. ft. on the 8th floor of a commercial complex.

The award is in excess of Rs. 2 crores.

In view of the above, the Punjab National Bank is directed to ascertain

whether they are interested to sell the above secured asset in order to satisfy their

dues. It is submitted on behalf of the award holder that the Punjab National Bank

is colluding with the directors of the judgment debtor in not deliberately selling the

above premises. The Punjab National Bank is also directed to furnish information

as to whether any sale has been attempted by the director of the judgment debtor

company in respect of any of the remaining secured assets.

List this matter appear alongwith GA 2 of 2024 on the 9 April 2025.

(RAVI KRISHAN KAPUR, J.)

SK.