Indbank Merchant Banking Services Ltd., Mumbai vs M/S. Shreeji Investment, Mumbai and Ors. — Bombay HC (2025) — LawSathi Research

Indbank Merchant Banking Services Ltd., Mumbai vs M/S. Shreeji Investment, Mumbai and Ors. — Bombay HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

Delay of 5 years and 28 days in filing First Appeal (ST) No. 7633 of 2024 condoned, subject to the Applicant's undertaking (affidavit dated 11.12.2025) not to claim interest for the period of delay from the impugned decree (11/01/2019) till filing of the Application/Appeal (11/03/2024).

Issue for consideration

Whether sufficient cause is made out for condonation of the delay of 5 years and 28 days in filing First Appeal (ST) No. 7633 of 2024 against the decree dated 11/01/2019.

Court's answer

Considering the averments in the application and the Applicant's undertaking (taken on record) not to claim interest for the period of delay from the date of the impugned decree (11/01/2019) till filing of the Application/Appeal (11/03/2024), sufficient cause is made out for condonation of the delay; the statements on oath had gone unchallenged as no Respondent appeared and no reply was filed despite service.

Ratio / Principle

The Interim Application is allowed and disposed of; the delay of 5 years and 28 days in filing the First Appeal is condoned.

Detailed headnote1 paragraphs

High Court of Judicature at Bombay, Civil Appellate Jurisdiction (M. M. Sathaye, J.) — Interim Application No. 9425 of 2024 in First Appeal (ST) No. 7633 of 2024 — Indbank Merchant Banking Services Ltd. v. M/s. Shreeji Investment, Mumbai & Ors. — Condonation of delay of 5 years and 28 days in filing a first appeal against a money-recovery decree dated 11/01/2019. The suit of the Applicant (Plaintiff) was decreed ex-parte; interest was allowed only from the date of order and not from the date of filing of the suit, prompting the appeal claiming interest from the date of suit. An application under Section 152 of the Civil Procedure Code, 1908 filed in 2022 was rejected on 09/01/2023. Cause of delay: pursuit of execution proceedings and search for fresh addresses of Respondents, coupled with transfer of the authorised officer of the financial institution. All Respondents were served but none appeared and no reply was filed; statements on oath therefore went unchallenged. The Applicant filed an affidavit of undertaking dated 11.12.2025 not to claim interest for the delay period (11/01/2019 to 11/03/2024), which was taken on record. Held: sufficient cause made out; application allowed; delay condoned.

9.IA.9425.2024.doc

Digitally signed by ANANT ANANT KRISHNA IN THE HIGH COURT OF JUDICATURE AT BOMBAY KRISHNA NAIK CIVIL APPELLATE JURISDICTION NAIK Date: 2025.12.22 17:40:34 +0530 INTERIM APPLICATION NO. 9425 OF 2024 IN

FIRST APPEAL(ST) NO. 7633 OF 2024

Indbank Merchant Banking Services Ltd., ..Applicant Versus

M/s. Shreeji Investment, Mumbai & Ors. ...Respondents

Ms. Rajlaxmi Punjabi a/w Ms. Pushpa Thapa i/b.Mable Soans for the Applicant.

None for Respondent.

***

CORAM : M. M. SATHAYE, J.

DATED : 22^nd DECEMBER 2025

P.C.:

This is an Application for condonation of delay of 5 years and 28 days in filing the First Appeal. Notices were issued to the Respondents. According to the office note, all the Respondents are served. None appeared for the Respondents. No reply is filed.

The Applicant is the Plaintiff and the Respondents are Defendants. The Applicant had filed the suit for recovery of money, which was decreed by the impugned judgment and decree dated 11/01/2019. The present Appeal is filed for claim of interest from the date of filing the suit, which is decreed only from the date of order.

The Applicant has filed affidavit of undertaking dated 11.12.2025 stating that the Applicant/Appellant shall not claim any interest for the

1

akn

9.IA.9425.2024.doc

period of delay i.e. from the date of impugned decree (11/01/2019) till filing of this Application/Appeal (11/03/2024). The same is taken on record.

Perused the application. It is stated therein that after impugned decee was passed (granting partial recovery), the management of the Applicant decided to proceed with the execution proceedings and it was also in the process of finding out fresh addresses of the Respondents, because the impugned decree was ex-parte decree against the Respondents. It is stated that during this time, it was realized that the Trial Court has allowed the interest only from the date of order and not from the date of filing of the suit. Thereafter, the Applicant had filed an Application u/s. 152 of the Civil Procedure Code, 1908. This Application was filed in 2022 and was ultimately rejected on 09/01/2023. It is stated that the Applicant being financial institute, its officers get transferred and in the present case, the concerned Officer who was authorized and well-versed with the proceedings, got transferred to other branch and could not hand over the matter to the new officer in-charge in time. On these assertions, it is stated that delay has caused. These statement on oath have gone unchallenged, as nobody appeared for Respondents and no reply is filed, despite service.

Considering the said averments and undertaking filed today, that interest will not be claimed from the period of delay, sufficient cause is made out for condonation of delay.

6. The Application is allowed and disposed of. Delay is condoned.

2

akn