Disposed

Maharashtra State Electricity Distributuion Co. Ltd. and Anr. v. M/S. Datar Switchgear Ltd. and Ors.

Bombay HC19 Oct 2013APP/166/2009

Case brief

AI extract

What is this about?

The Court considered an application for stay of judgment and order executed in Appeal No.166 of 2009. Withdrawing the application due to the availability of bank guarantees on record, the Court left the appellants free to contest the decree after six weeks.

What did the court decide?

The Court held that the question of granting stay to the execution of the decree does not arise as Bank Guarantees exist.

Maharashtra State Electricity Distributuion Co. Ltd. and… — Banking and Recovery | Bombay HC (2013)

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APP-166/2009 a/w NMA Nos.3227/10 and 461/10 a/w Ch/s (L) Nos.1467/12, 1474/12 & 1544/12

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO.166 OF 2009 IN ARBITRATION PETITION NO.374 OF 2004

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Maharashtra State Electricity Distribution Company Ltd & Anr.

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…. Appellants.

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V/s

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M/s Datar Switchgear Limited and Others.

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....Respondents.

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ALONGWITH

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NOTICES OF MOTION NOS.3227 OF 2010 AND 461 OF 2010 IN

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APPEAL NO.166 OF 2009

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Maharashtra State Electricity Distribution Company Ltd & Anr.

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…. Appellants.

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V/s

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M/s Datar Switchgear Limited and Others.

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....Respondents.

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ALONGWITH CHAMBER SUMMONS (L) Nos.1467/2012, 1474/2012,1544/2012 IN APPEAL NO. 166 OF 2009

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Maharashtra State Electricity Distribution Company Ltd & Anr.

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…. Appellants.

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V/s

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M/s Datar Switchgear Limited and Others.

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…. Respondents.

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APP-166/2009 a/w NMA Nos.3227/10 and 461/10 a/w Ch/s (L) Nos.1467/12, 1474/12 & 1544/12

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Mr. P.P.Chavan, Advocate with Advocates Mr.Chandra Prakash, Ms. Deepika Kalia, Mr. Rahul Sinha i/b Khare Legal & Associates for the Appellants in Appeal No.166 of 2009 and for Appellants/Applicants in Chamber Summons (L) Nos.1467/12, 1474/12 and 1544/12 in support.

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Mr. R.A.Dada,Senior Counsel with Advocates Mrs. Swati Deshpande, Mr. Mukul Tally i/b S. Mohammedbhai & Co. for Respondents/DSL in Appeal No.166 of 2009 and for DSL/Applicants in Notices of Motion No.3227/2010 and 461/2010 in support.

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CORAM: V. M. KANADE & K. R. SHRIRAM, JJ.

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DATE: 19^th October, 2013

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P.C.:-

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After the judgment was pronounced today, the learned Counsel appearing on behalf of the Appellants applied for stay of the judgment and order passed by this Court for a period of six weeks. In the present case, Respondents/DSL have furnished Bank Guarantee for an amount of Rs 65 crores which is valid till 24^th December, 2013. So far as the Appellants are concerned, they have furnished Bank Guarantee for Rs 200 crores which is valid till 17^th June, 2014. Mr. Dada, the learned Senior Counsel appearing on behalf of Respondents/DSL submits that Respondents shall not invoke the Bank Guarantee furnished by the Appellants and shall not

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APP-166/2009 a/w NMA Nos.3227/10 and 461/10 a/w Ch/s (L) Nos.1467/12, 1474/12 & 1544/12

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apply for execution for balance amount for a period of six weeks in order to enable the Appellants to go through the Judgment and Order passed by this Court. Mr. Dada, the learned Senior Counsel submits that creditors of Respondents/DSL are clamoring for the dues which are payable to them. It is an admitted position that Respondents/DSL have been declared as sick undertaking. He, however, notwithstanding that, makes the aforesaid statement. He also submits that the Bank Guarantee which has been given by Respondents/DSL in respect of Rs 65 crores is valid till 24^th December, 2013 and, therefore, in view of the statement made by him on instructions, question of granting stay to the execution does not arise. In view of the statement made by the learned Senior Counsel appearing on behalf of DSL, in our view, the question of granting stay to the execution of the decree does not arise. It is clarified that after a period of six weeks is over, Appellants shall deposit balance amount over and above Rs 200 crores in this Court.

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(K.R. SHRIRAM, J.) (V.M. KANADE, J.)

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B.D. Pandit,PS

Maharashtra State Electricity Distributuion Co. Ltd. and Anr. v. M/S. Datar Switchgear Ltd. and Ors.

Case brief

What is this about?

What did the court decide?

Maharashtra State Electricity Distributuion Co. Ltd. and Anr. v. M/S. Datar Switchgear Ltd. and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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