Full Judgement
Bombay High Court
Kotak Mahindra Bank Ltd vs Matrubhoomi Dairy Pvt. Ltd on 8 February, 2024
Author: Abhay Ahuja
Bench: Abhay Ahuja
17. IAL 24813-23 in EXAL 24468-23.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L) NO. 24813 OF 2023
IN
EXECUTION APPLICATION (L) NO. 24468 OF 2023
Kotak Mahindra Bank Ltd. ...Applicant
Vs.
Matrubhoomi Dairy Pvt. Ltd. & Ors. ...Respondents
Ms. Tikshta Modi with Ms. Jenny Somaiya i/b Akhil Modi and
Associates for Applicants.
Mr. Gouresh Mogre for Respondents.
CORAM : ABHAY AHUJA, J.
DATE : 8th FEBRUARY, 2024
P.C. :
1. This interim application has been filed in execution of arbitral
award dated 28th February, 2018, whereby the Respondents have been
jointly and severally directed to pay to the Applicant Rs. 42,40,361.50
along with further interest @ 15% p.a. from 29 th February, 2018 till
payment and / or realization.
2. Ms. Modi, learned Counsel appears for the Applicant-bank and
submits that the bank has through various title searches including
CERSAI searches as per the report dated 20 th August, 2023, ascertained
that the property being B-1401, 14 th Floor with open terrace, Raviraj
Palm, Poonam Garden, Near Tamil Church, Mira Road East, Thane-
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17. IAL 24813-23 in EXAL 24468-23.doc
401107 is unencumbered and that the Respondents may encumber the
same and therefore, this Court not only grant prayers for disclosure of
the Respondents assets but also pass a restraint order in respect of the
aforementioned property.
3. Mr. Mogre, learned Counsel appears for the Respondents and
submits that he needs some time to take complete instructions as he
only has copy of the interim application without exhibits.
4. Ms. Modi, learned Counsel for the Applicant submits that service
to the Respondents has been effected and complete sets of the interim
application along with exhibits has already been served upon the
Respondents and seeks to tender affidavit of service in this regard.
5. Let the affidavit of service be filed in the Registry. Let the
complete copy of the interim application along with exhibits be
furnished to the learned Counsel for the Respondents.
6. Mr. Mogre, learned Counsel for the Respondents also submits
that he would need time to take instructions as his client has taken
loans from multiple lenders.
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17. IAL 24813-23 in EXAL 24468-23.doc
7. Having heard the learned Counsel and having perused the
application, this Court is of the view that the relief in terms of prayer
clause (f) be granted. Let the Respondents disclose on oath the assets
(both movable / immovable held / owned by them) including details of
the all bank accounts (with account numbers, bank and branch etc.)
and all amounts lying in the bank accounts and also all debts and
receivables payable by third party to the Judgment Debtors with exact
addresses, within a period of four weeks.
8. In the meanwhile, let there also be a restraint on the
Respondents from in any manner whatsoever dealing with or disposing
off the property being B-1401, 14th Floor with open terrace, Raviraj
Palm, Poonam Garden, Near Tamil Church, Mira Road East, Thane-
401107 till the next date.
9. List on 7th March, 2024. Let reply, if any, also be filed by the next
date.
(ABHAY AHUJA, J.)
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