Dismissed

Bhicaji Darobji Davierwalla v. Perin Hoshang and Antother

Bombay HC1 Sept 2014CAR/22/2014

Case brief

AI extract

What is this about?

In an application for withdrawal of the applicant's share in royalty deposited as agents of a Court Receiver, the Court directed that net royalty be distributed among partnership firm partners after deducting firm expenses and Receiver's charges, with the Receiver to determine individual shares.

What did the court decide?

Net royalty to be distributed among partners after deducting expenses; Court Receiver to determine shares and report within four weeks.

Bhicaji Darobji Davierwalla Vs Perin Hoshang and Antother — Company and Corporate | Bombay HC (2014)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION

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CIVIL APPLICATION NO. 22 OF 2014 IN ARBITRATION APPEAL NO. 42 OF 2013

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Bhicaji Dorabji Davierwalla ...Applicant / Orig.Resp.No.2 In the matter between Perin Hoshang Davierwalla & Anr. ...Appellants vs. Mr.Kobad Dorabji Davierwalla & Ors. ...Respondents

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Mr.Darius Khambata, Senior Advocate with Mr.J.B. Sen, Senior Advocate, Mr.Akshay Patil i/b. M/s.Federal & Rashmikant for Original Appellants.

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Mr.A.V. Anturkar, Senior Advocate with Mr.Prathamesh Bhargav i/b. Mr.S.B. Deshmukh for Respondent No.1.

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Mr.Priyanka Vegad for Applicant in CA No.22/2014 and for Respondent No.2 in Arb.Appeal No.42/2014.

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Mr.B.K. Bali i/b. M/s.Bali Associates for Respondent No.3.

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CORAM : S.C. GUPTE, J.

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01 SEPTEMBER 2014

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P.C. :

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This application is taken out by original Respondent No.2, applying for withdrawal of the proportionate share of Respondent No.2 in the royalty deposited by the Appellants, as agents of the Court Receiver. Respondent No.2 is a partner of the partnership firm of IL Palazzo Hotel, for the assets and business of which Court Receiver is appointed and for the use of which the Appellants have been paying royalty of Rs.70 lakhs per annum as agents of the Court Receiver. (The royalty of Rs.70 lakhs has now been enhanced to Rs.76 lakhs as annum under an order passed by this Court in a companion petition, namely, Review Petition (Stamp) No.19448/2014)

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2 At the hearing of the application, it is agreed by all parties to the application that the royalty paid by the Appellants for carrying on the business of the partnership firm, as agents of the Court Receiver, should be distributed between the partners of the firm in accordance with their respective entitlement, after deducting the expenses of the firm, namely, taxes payable for the property and the charges of the Court Receiver.

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3 Accordingly, it is directed that the net royalty in the hands of the Court Receiver after payment of the Receiver's charges and making provision for income-tax would be distributed between the parties in accordance with their proportionate shares in the income and profits of the partnership firm. The amounts payable to the individual partners upon such distribution shall accordingly be determined by the Court Receiver and a report to that effect will be made to this Court within a period of four weeks from today. The final orders for distribution of the amounts will be passed upon the Court Receiver's report. In the meantime, the Court Receiver shall continue to pay the amount of Rs.64,500/- per month from out of the royalty paid by the Appellants as an ad-hoc share of Respondent No.1 in the royalty, as directed by this Court in its order dated 7 May 2014.

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4 The civil application is disposed of accordingly.

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(S.C. Gupte, J.)

Bhicaji Darobji Davierwalla v. Perin Hoshang and Antother

Case brief

What is this about?

What did the court decide?

Bhicaji Darobji Davierwalla v. Perin Hoshang and Antother

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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