Disposed¶18

Kotak Mahindra Bank Limited v. Nirvaan Birla and 4 Ors.

Bombay HC24 Jan 2025IA/3094/2024

Case brief

AI extract

What is this about?

Bombay High Court interim application disposal by consent/statements; Kotak Mahindra Bank Limited v. Nirvaan Birla (Suit 255/2018); Plaintiff's undertaking not to proceed with Suit pending Debt Recovery Appellate Tribunal proceedings plus four weeks; liberty to Bank to apply after DRAT decision; Suit removed from board; no statute or precedent discussed.

What did the court decide?

Interim Application No. 3094 of 2024 disposed of on the basis of the Plaintiff's statement; liberty granted to the Interim Applicant (Kotak Mahindra Bank Limited) to file an Application before this Court depending upon the decision of the Debt Recovery Appellate Tribunal; Suit removed from the board with liberty to apply. ¶18

Kotak Mahindra Bank Limited vs Nirvaan Birla and 4 Ors. — Bombay HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

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Issue for consideration

Whether the Interim Application filed by Kotak Mahindra Bank Limited should be disposed of on the basis of the Plaintiff's statement that he will not proceed with the Suit until disposal of the Bank's proceedings before the Debt Recovery Appellate Tribunal and four weeks thereafter, and whether liberty should be reserved to the Bank to apply afresh depending upon the DRAT's decision.

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Ratio / Principle

Accepting the statement made on behalf of the original Plaintiff/Respondent that he will not proceed with the Suit until disposal of the Interim Applicant-Bank's proceedings before the Debt Recovery Appellate Tribunal and four weeks thereafter, the Court disposed of the Interim Application with liberty to the Applicant to file a fresh application depending upon the DRAT's decision, as prayed for by Dr. Birendra Saraf.

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Key takeaways

Consequent upon the disposal of the Interim Application, the Suit was ordered to be removed from the board, with liberty to apply.ratio¶21

Detailed headnote1 paragraphs

High Court of Judicature at Bombay (Abhay Ahuja, J.), 24 January 2025 — Interim Application No. 3094 of 2024 in Suit No. 255 of 2018 (Nirvaan Birla v. Shree trust and Others), filed by Kotak Mahindra Bank Limited, disposed of on statements. Pursuant to an order dated 8 January 2025, the Plaintiff's counsel stated that until disposal of the Bank's pending proceedings before the Debt Recovery Appellate Tribunal and four weeks thereafter, the Plaintiff would not proceed with the Suit. The Court accepted this statement, disposed of the Interim Application with liberty to the Bank to file a fresh application depending upon the DRAT's decision, and removed the Suit from the board with liberty to apply.

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29-IA-3094-2024.doc

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

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INTERIM APPLICATION NO. 3094 OF 2024 IN

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SUIT NO. 255 OF 2018

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Kotak Mahindra Bank Limited … Applicant

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IN THE MATTER BETWEEN : Nirvaan Birla … Plaintiff

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V/s.

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Shree trust and Others … Defendants

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Mr. Rafeeq Peermohideen (Through V.C.) a/w Ms. Kalyani Wagle and Ms. Somya T. i/b T. N. Tripathi & Co., Advocate for the Plaintiff. Dr. Birendra Saraf, Advocate General & Senior Counsel a/w Mr. Ranjeev Carvalho, Mr. Sachin Chandarana, Mr. Rishab Murali, Mr. Aagam Mehta i/b Manilal Kher Ambalal & Co., Advocate for the Applicant.

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CORAM : ABHAY AHUJA, J. DATE : 24^th JANUARY 2025.

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P.C. :

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Pursuant to order dated 8^th January 2025, today when the matter is called out, Mr. Rafeeq Peermohideen, learned Counsel appearing through Video Conferencing for the original Plaintiff/Respondent submits on instructions that the present Interim Application filed by the Kotak Mahindra Bank Limited can be disposed

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Gitalaxmi 1/3

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29-IA-3094-2024.doc

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of on the basis of his statement that until the disposal of the proceedings filed by the Interim Applicant-Kotak Mahindra Bank Limited before the Debt Recovery Appellate Tribunal and until four weeks thereafter, the Plaintiff would not proceed with the Suit in this Court.

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Dr. Birendra Saraf, learned Senior Counsel and Advocate General of the State appearing for the Interim Applicant-Kotak Mahindra Bank Limited submits that he has no objection to the disposal in view of the statement made by Mr. Rafeeq Peermohideen submitting however that the Interim Applicant be given liberty to file an Application before this Court depending upon the decision of the Debt Recovery Appellate Tribunal.

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Mr. Rafeeq Peermohideen submits that he has no objection if the said liberty is granted to the Interim Applicant.

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In view of the aforesaid statement made on behalf of the original Plaintiff/Respondent, which is accepted by this Court, the Interim Application stands disposed of with liberty as prayed for by Dr. Birendra Saraf on behalf of the Interim Applicant.

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Gitalaxmi 2/3

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29-IA-3094-2024.doc

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Accordingly, remove the Suit from the board. Liberty to apply.

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(ABHAY AHUJA, J.)

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Digitally signed by GITALAXMI GITALAXMI KRISHNA KRISHNA KOTAWADEKAR KOTAWADEKAR Date: 2025.01.29 10:44:13 +0530

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Gitalaxmi 3/3

Kotak Mahindra Bank Limited v. Nirvaan Birla and 4 Ors.

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Nirvaan Birla and 4 Ors.

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

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Coram

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