Sandeep Choudhary vs Ashwin Narendra Lodha And Anr
2025 Latest Caselaw 2992 Cal/2

Calcutta High Court

Sandeep Choudhary vs Ashwin Narendra Lodha And Anr on 11 November, 2025

Author: Aniruddha Roy

Bench: Aniruddha Roy

OCD-13
                        In the High Court at Calcutta
                            Commercial Division
                               Original Side

                           EC-COM/514/2025
                      SANDEEP CHOUDHARY
                              VS
                 ASHWIN NARENDRA LODHA AND ANR.
  BEFORE:
  The Hon'ble JUSTICE ANIRUDDHA ROY
  Date : November 11, 2025.
                                                                    Appearance:
                                                   Mr. Aniruddha Mitra, Sr. Adv.
                                             Mr. Deepnath Roy Chowdhury, Adv.
                                                           Mr. Debraj Sahu, Adv.
                                                      Mr. Bhaskar Dwivedi, Adv.
                                                        Ms. Antara Biswas, Adv.
                                                        Mr. Hareram Singh, Adv.
                                             Mr. Saptarshi Rajan Chatterjee, Adv.
                                                         ... for the decree-holder
                                                   Mr. Yash Vardhan Deora, Adv.
                                                     ... for the judgment-debtors
         The Court : Mr. Aniruddha Mitra, learned Senior Advocate
appears virtually with Mr. Deepnath Roy Chowdhury, learned Advocate
appears physically for the plaintiff/decree-holder.
         Mr. Yash vardhan Deora, learned Advocate appears for the
judgment-debtors.
         The instant execution proceeding arises from a foreign decree.
         The tabular statements appended to the application shows the
total money decree inclusive of principal and interest comes to about
Rs.1,46,92,15,494/- and nothing has been paid.
         Learned Counsel appearing for the judgment-debtors has
referred to an order dated February 6, 2023, copy of which is taken on
                                        2
record in respect of the judgment-debtor no.1 and the order dated
December 14, 2023 which is also taken on record in respect of the
judgment-debtor no.2 passed by the jurisdictional NCLT. On the basis of
the said two orders, learned Counsel submits that in view of the
proceeding initiated by the creditors against the judgment-debtors under
Section 95 of the Insolvency and Bankruptcy Code, 2016 (for short
"IBC"), the judgment-debtors are enjoying moratorium and/or interim
moratorium in terms of Sections 96 and 101 of IBC respectively. He
submits that this proceeding shall not lie.
         The issue raised on behalf of the judgment-debtors is required to
be decided on affidavits.
         Column 10 of the tabular statement discloses the immovable
properties of the judgment-debtors, which are detailed in Schedule A at
page 12 to the supporting affidavit.
         Since the admitted fact is that the judgment-debtors had
suffered a money decree arising out of a commercial transaction, the
decretal amount is required to be protected to the extent it is possible, but
as submitted on behalf of the judgment-debtors, in view of the operation of
Sections 96 and 101 of IBC no absolute injunction can be granted at this
stage.
         Accordingly, be it by the judgment-debtors or be it by the
appointed Resolution Professional, since the judgment-debtors have
undergone in the process of insolvency under IBC, if any attempt is made
or requirement arises to deal with any of the immovable properties
mentioned in Schedule A to the execution application, the same has to be
                               EC-COM/514/2025
                                    A.R., J.
done upon prior information to this Court and with the leave of it, upon
notice to the decree-holder.

         The    appropriate     person/authority    shall   file   affidavit-in-
opposition on or before December 10, 2025.
         Affidavit-in-reply, if any, thereto shall be filed by January 12,
2026.

         The   matter   shall    appear    under   the   heading    "Chamber
Application for Final Disposal" on January 29, 2026.
         The learned Advocate-on-Record for the decree-holder shall
communicate this order to the appointed Resolution Professional, who
shall place the same before the NCLT to keep it on its record.
                                                     (ANIRUDDHA ROY, J.)
RS
                                EC-COM/514/2025
                                     A.R., J.