Disposed

Dr.Ramila a. Sanghvi v. K.K.B.Properties and Anr.

Bombay HC19 Dec 2023NMIS/3/2021

Case brief

AI extract

What is this about?

The court accepted Consent Terms settling certain claims between a petitioning creditor and insolvents, excluding only a bracketed portion. However, the Official Assignee's Report remained pending as other claims like Income Tax dues were unaddressed. Related motions were listed for future hearing.

What did the court decide?

Notice of Motion No.3 of 2021 disposed per Consent Terms excluding bracketed portion in paragraph 8; Official Assignee's Report continues pending; other notices listed.

Dr.Ramila a. Sanghvi Vs K.K.B.Properties and Anr. — Insolvency and Bankruptcy | Bombay HC (2023)

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3-OAR-15-2019@CONNECTED NMS & INPT.doc

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

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OFFICIAL ASSIGNEE REPORT NO.15 OF 2019
IN

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INSOLVENCY PETITION NO.18 OF 2017

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DR. RAMILA A. SANGHAVI)...PETITIONING CREDITOR

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V/s.

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K.K.B PROPERTIES AND ANR.)…INSOLVENTS

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WITH

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NOTICE OF MOTION NO.3 OF 2021

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IN

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INSOLVENCY PETITION NO.18 OF 2017

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WITH

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NOTICE OF MOTION (L) NO.9726 OF 2022

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IN

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INSOLVENCY PETITION NO.18 OF 2017

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WITH
INSOLVENCY PETITION NO.29 OF 2017

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Mr.Sachin Kudalkar a/w Mr.Murari Madekar, i/by M/s. Madekar & Co.,
Advocate for the Petitioning Creditor.

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Mr.Ashutosh Singh, Advocate for the Third Party Purchaser.

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Mr.Yogeshwar Bhate i/by Mr.Anil Bagwe and Ms.Krutika Walanju,
Mr.Vinay B. Advocates for the Insolvents in INPT/29/2017 and
INPT/18/2017.

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Ms.CJ.Bhat, Official Assignee a/w. Mr.Arun Kesarkar, Deputy Official
Assignee and Mr.Subodh Patil, 1st Assistant O.A. are present in Court.
Ms.M.R.Parkar, I/c. Insolvency Registrar, present in Court.

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Dr.Darshana Sanghavi, Constituted Attorney of Petitioning Creditor is
present.

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3-OAR-15-2019@CONNECTED NMS & INPT.doc

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CORAM:ABHAY AHUJA, J.
DATE:19th DECEMBER 2023

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P.C. :

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1.Mr.Kudalkar, learned Counsel for the Petitioning Creditor and
Mr.Bhate, learned Counsel for the Insolvents tender across the bar
Consent Terms dated 19th December 2023 in the Notice of Motion No.3
of 2021, duly signed by the Constituted Attorney of the Petitioning
Creditor, the Insolvents and the Well-wisher of the Insolvents as well as
the learned Counsel for the parties, submitting that the claims,
disputes, differences have been settled between the parties as recorded
in the said Consent Terms.

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2.Learned Official Assignee submits that these Consent Terms only
state the claims of the Petitioning Creditor and there are also other
claims including Income Tax dues which would need to be paid by the
Insolvents and therefore also the Official Assignee’s Report cannot be
disposed of in terms of the Consent Terms.

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3.Accordingly, the said Consent Terms except the bracketed portion
in paragraph 8 are taken on record and marked “X” for the purposes of
identification. The undertakings are accepted as undertakings to the
Court.

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3-OAR-15-2019@CONNECTED NMS & INPT.doc

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4. Subject to the concerns of the learned Official Assignee, the Notice of Motion No.3 of 2021 accordingly stands disposed in terms of the Consent Terms excluding the bracketed portion in paragraph 8.

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5. It is made clear that the Official Assignee’s Report No.15 of 2019

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remains pending and is not disposed.

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6. List the Official Assignee’s Report No.15 of 2019 along with the Notice of Motion (L)No.9726 of 2022 for hearing on 16^th January 2024 .

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7. Let the Notice of Motion (L) No.9726 of 2022 also be registered by the next date.

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(ABHAY AHUJA, J.)

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ARTI VILAS KHATATE

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Digitally signed by ARTI VILAS KHATATE Date: 2023.12.20 21:23:51 +0530

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Dr.Ramila a. Sanghvi v. K.K.B.Properties and Anr.

Case brief

What is this about?

What did the court decide?

Dr.Ramila a. Sanghvi v. K.K.B.Properties and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

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