Allowed

Anand Shelters Developers and Builders Pvt. Ltd. v. Sou Sarita Sanjay Goyal

Bombay HC17 Nov 2016COAPP/11/2014

Case brief

AI extract

What is this about?

On consent, appeals were disposed of by cancelling an agreement affecting 34 flats, refunding consideration with interest, directing transparent sale by Administrator, and noting rights to apply to NCLT regarding the Administrator's report.

What did the court decide?

Cancel agreement in favour of original Respondents 4 to 19; refund paid consideration with 9% interest; direct transparent sale of 34 flats by Administrator; parties at liberty to apply to NCLT.

Anand Shelters Developers and Builders Pvt. Ltd. Vs Sou… — Company and Corporate | Bombay HC (2016)

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coapp 11-2014 group.doc

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sat

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY APPEAL NO. 11 OF 2014 IN

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CLB COMPANY PETITION NO. 85 OF 2010 WITH COMPANY APPLICATION NO. 13 OF 2014 WITH COMPANY APPLICAITON NO. 82 OF 2014

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Anand Shelters, Developers and Builders Pvt.Ltd. & Ors.

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…Appellants

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vs.

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Sou.Sarita Sanjay Goyal & Ors.

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....Respondents

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ALONG WITH

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COMPANY APPEAL NO. 10 OF 2014 IN

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CLB COMPANY PETITION NO. 85 OF 2010

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Sou.Sarita Sanjay Goyal & Ors. …Appellants vs. Anand Shelters, Developers and Builders Pvt.Ltd. & Ors. ....Respondents

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Mr.Chirag Balsara with Satyan Israni and Ms.K.Ahuja I/b. Satyan Israni for Appellant in Coapp 11/2014. Mr.Vinit Mehta for Appellants in Coapp 10/2014. Mr.Chetan Kapadia I/b. Ms.Shamika Ranade for Respondents.

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CORAM : S.C. GUPTE, J.

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17 NOVEMBER 2016

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P.C. :

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After the matter was heard at some length, the appeals are

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2/3 coapp 11-2014 group.doc

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disposed of, by consent of parties, in terms of the following order :

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(I) The impugned order insofar as it cancels the agreement in favour of original Respondent Nos.4 to 19 with immediate effect stands.

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(II) The amount paid by original Respondent Nos.4 to 19 towards the sale consideration forming part of these agreements in respect of 34 disputed flats shall be refunded to the Respondents with simple interest at the rate of 9% per annum with effect from the date of payment and until the date of actual payment.

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(III) The Administrator already appointed in the matter shall conduct the sale of these 34 flats in a transparent manner in terms of para 50(c) and (d) of the impugned order.

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(IV) It is needless to add that the Administrator appointed in the matter shall continue to act in accordance with the orders passed by the CLB.

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(V) The parties will now be at liberty to apply for appropriate relief before the National Company Law Tribunal in respect of the Administrator's report.

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(VI) All rights in respect of the report prepared by the Administrator in pursuance of para 50(e) of the impugned order are kept open.

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(VII) No order as to costs.

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(VIII) In view of the disposal of the appeals, the company applications do not survive and the same are also disposed of.

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(S.C. Gupte, J.)

Anand Shelters Developers and Builders Pvt. Ltd. v. Sou Sarita Sanjay Goyal

Case brief

What is this about?

What did the court decide?

Anand Shelters Developers and Builders Pvt. Ltd. v. Sou Sarita Sanjay Goyal

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

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