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Idbi Bank v. B. R. Films

Bombay HC19 Nov 2025COMS/39/2025

Case brief

AI extract

What is this about?

Consent terms decree; disposal of commercial suit by mutual settlement; IDBI Bank Ltd v. B.R. Films & Ors.; wilful defaulter proceedings suspended; RBI fraud circular related proceedings not to proceed; revival of wilful defaulter/fraud actions on default with leave of Court; no coercive steps against Defendants; Consent Terms and Undertaking treated as undertakings to Court; Defendant Nos. 3 and 4 undertaking; Bombay High Court; Justice Milind N. Jadhav; COMS 39/2025; Interim Applications 6111 and 5137 of 2025 disposed; refund of court fees as per Rules.

What did the court decide?

Suit disposed of in terms of Consent Terms dated 19.12.2025; decree to be drawn up accordingly; all pending Interim Applications (Nos. 6111 and 5137 of 2025) disposed; refund of Court Fees as per Rules. ¶7

Idbi Bank vs B. R. Films — Bombay HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

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Ratio / Principle

All rights and obligations mentioned in the Consent Terms and in the Undertaking qua the respective parties are taken as undertaking given to the Court, and the parties shall abide by the same.

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Key takeaways

In view of execution of the present Consent Terms, the wilful defaulter and fraud circular related proceedings against the Defendants shall not be proceeded further.ratio¶5
In case of default of the Consent Terms, the Plaintiff shall be entitled to take all actions (including wilful defaulter and fraud proceedings) in accordance with applicable law with leave of the Court.ratio¶5
In the meanwhile, it is clarified that no coercive steps shall be taken against the Defendants.

Detailed headnote1 paragraphs

Bombay High Court (Milind N. Jadhav, J.), Commercial Suit No. 39 of 2025 (IDBI Bank Ltd. v. B.R. Films & Ors.), disposed of on 19.12.2025 in terms of Consent Terms dated 19.12.2025, taken on record and marked 'X' for identification, signed by Plaintiff, Defendant Nos. 1, 3 and 4 and their Advocates, running into 9 pages; Undertaking dated 19.12.2025 of Defendant Nos. 3 and 4 also taken on record. The Court held that all rights and obligations mentioned in the Consent Terms and in the Undertaking qua the respective parties are taken as undertakings given to the Court and the parties shall abide by the same. It was noted that the Plaintiff had initiated Wilful Defaulter and Fraud related proceedings against the Defendants as per RBI guidelines; in view of execution of the Consent Terms such proceedings shall not be proceeded further, but in case of default of the Consent Terms the Plaintiff shall be entitled to take all actions (including wilful defaulter and fraud proceedings) in accordance with applicable law with leave of the Court, and in the meanwhile no coercive steps shall be taken against the Defendants. All pending Interim Applications were disposed and refund of Court Fees directed as per Rules.

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902. COMS-39-25.odt

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Amberkar

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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O.O.C.J.

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COMMERCIAL SUIT NO. 39 OF 2025 WITH INTERIM APPLICATION NO. 6111 OF 2025 WITH INTERIM APPLICATION NO. 5137 OF 2025

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IDBI Bank Ltd .. Plaintiff

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Versus B.R. Films & Ors. .. Defendants

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Mr. Anil Singh, Senior Advocate a/w Ms. Fatema Kachwalla, Mr. Adarsh Vyas & Mr. Virgil Braganza i/by JSA, Advocates for Plaintiff

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Mr. Chirag Mody i/by AMR Law, Advocate for Defendant Nos. 1, 3 & 4

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Mr. Dipesh Siroya i/by LIM Legit, Advocate for Defendant No. 2

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Ms. Rashi Savla i/by M/s. Wadia Ghandy & Co., Advocate for Defendant No. 5

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CORAM : MILIND N. JADHAV, J. DATE : DECEMBER 19, 2025

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P. C.:

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1. Heard Mr. Singh, learned Senior Advocate for Plaintiff; Mr. Mody, learned Advocate for Defendant Nos. 1, 3 & 4, Mr. Siroya, learned Advocate for Defendant No. 2 and Ms. Savla, learned Advocate for Defendant No. 5.

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2. Parties have reconciled their disputes and differences and filed Consent Terms. Consent Terms dated 19.12.2025 are taken on record and marked "X" for identification. They are signed by Plaintiff, Defendant Nos. 1, 3 and 4 and their respective Advocates. Consent

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Terms are running into 9 pages. For the purpose of reference and convenience, they are scanned and reproduced below:-

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3. Further Defendant Nos. 3 and 4 have filed Undertaking dated 19.12.2025 which is taken on record. For the purpose of reference and convenience, said Undertaking is also scanned and reproduced

below:-

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All rights and obligations mentioned in the Consent Terms and in the Undertaking qua the respective parties are taken as undertaking given to the Court and parties shall abide by the same.

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It is noted that Plaintiff has initiated Wilful Defaulter and Fraud related proceedings against the Defendants as per RBI guidelines. In view of the execution of the present Consent Terms, the wilful defaulter and fraud circular related proceedings shall not be proceeded further. However in case of default of the Consent Terms, the Plaintiff shall be entitled to take all actions (including wilful defaulter and fraud proceedings) in accordance with applicable law with leave of the Court. In the meanwhile it is clarified that no coercive steps shall be taken against the Defendants.

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