The High Court allowed an application to substitute Kotak Mahindra Bank Ltd. as the decree-holder for execution proceedings, accepting an assignment of receivables and making the order absolute.
Chamber summonses made absolute; applicant substituted in place of original claimant-decree holder.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
CHAMBER SUMMONS NO.585 OF 2018 IN EXECUTION APPLICATION (L) NO.1584 OF 2014 CHAMBER SUMMONS NO.586 OF 2018 IN EXECUTION APPLICATION NO.945 OF 2015 CHAMBER SUMMONS NO.592 OF 2018 IN EXECUTION APPLICATION NO.437 OF 2015 CHAMBER SUMMONS NO.594 OF 2018 IN EXECUTION APPLICATION NO.1349 OF 2015 CHAMBER SUMMONS NO.599 OF 2018 IN EXECUTION APPLICATION NO.7 OF 2016 CHAMBER SUMMONS NO.606 OF 2018 IN EXECUTION APPLICATION NO.1413 OF 2015 CHAMBER SUMMONS NO.653 OF 2018 IN EXECUTION APPLICATION NO.900 OF 2014 CHAMBER SUMMONS NO.1160 OF 2018 IN EXECUTION APPLICATION NO.1459 OF 2016 CHAMBER SUMMONS NO.1327 OF 2018 IN EXECUTION APPLICATION NO.1350 OF 2014 CHAMBER SUMMONS NO.153 OF 2019 IN EXECUTION APPLICATION NO.2888 OF 2015 CHAMBER SUMMONS NO.156 OF 2019 IN EXECUTION APPLICATION NO.564 OF 2014 CHAMBER SUMMONS NO.160 OF 2019 IN EXECUTION APPLICATION NO.2900 OF 2015 CHAMBER SUMMONS NO.162 OF 2019 IN EXECUTION APPLICATION NO.2163 OF 2016 CHAMBER SUMMONS NO.163 OF 2019 IN EXECUTION APPLICATION NO.2894 OF 2015
Kotak Mahindra Bank Ltd. .. Applicant-Prop. Claimant In the matter between Magma Fincorp Ltd. .. Org. Claimant-Decree Holder Vs. Planet Worldwide Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Dynamic Yarns Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Logic Transware India Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors V.V. Roadline and Ors. .. Respondents-Judg. Debtors JMD Pharma and Ors. .. Respondents-Judg. Debtors Sebastian Marshall D’Souza and Ors. .. Respondents-Judg. Debtors Baba Mungipa Steel Industries Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Orchid Diamond Studio Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Arya Diamond Jewellery (I) Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Ahan Apparel Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Royal Belts and Ors. .. Respondents-Judg. Debtors Unibios Laboratories Ltd. and Ors. .. Respondents-Judg. Debtors Trimurti Cargo Movers Pvt. Ltd. and Ors. .. Respondents-Judg. Debtors Jewel Melange and Ors. .. Respondents-Judg. Debtors
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13 to 26-CHS-585-2018-GROUP.doc Dixit
Ms. Jyoti Sanap, i/by V. Deshpande & Co., for the Applicant-Proposed Claimant.
CORAM : A. K. MENON, J. DATE : 25TH OCTOBER, 2021.
P.C. :
taken over the receivables by way of assignment such that it is now entitled to execute the awards against the respondents-judgment debtors.
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SNEHAABHAY Digitally signedby SNEHAABHAY DIXITDate: 13 to 26-CHS-585-2018-GROUP.doc DIXIT 2021.10.2516:48:16 +0530 Dixit
1 issue framed by the court
Whether the applicant-bank is entitled to be substituted in place of the original decree-holder for execution of awards.
Kotak Mahindra Bank Ltd.
Magma Fincorp Ltd.
Planet Worldwide Pvt. Ltd.
Dynamic Yarns Pvt. Ltd.
Logic Transware India Pvt. Ltd.
V.V. Roadline
A. K. MENON
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
