SPECIAL SITUATION ADVISORS (INDIA) PVT. LTD. vs BANK OF INDIA

Judgment text excerpt

k 901 cs suit 57.22 J os fc_corrected.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL SUMMARY SUIT NO.57 OF 2022 Special Situation Advisors (India) Pvt. Ltd. 1030, J-Block, Akshar Business Park, Plot No.03, Vashi-Koparkhairne Road, Sector 25, Vashi, Navi Mumbai – 400 703 ....Plaintiff V/S Bank of India Star House, C-5, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051. ....Defendant _________ Mr. Rahul Narichania, Senior Advocate, a/w Mr. Karl Tamboli, Mr.Aadil Parsurampuria, Mr. Akash Menon & Mr. Kalash Bakliwal, for the Plaintiff. Mr. S.U. Kamdar, Senior Advocate, a/w Mr. Yashesh Kamdar, Ms. Bindu Parekh Adv. Mr. Nahur Shah, Ms. Komal Bhoir, Ms. Kirti Singh, i/b Mr. Ankur Kumar, for Defendant. MEGHA SHREEDHAR PARAB Mr. Madhvendra & Mr. Ramkumar, representatives of Defendant - Digitally signed by MEGHA SHREEDHAR PARAB Date: 2025.03.06 Bank of India are present in Court. 12:24:55 +0530 __________ CORAM : SANDEEP V. MARNE, J. RESERVED ON : 11 FEBRUARY 2025. PRONOUNCED ON : 25 FEBRUARY 2025. JUDGMENT: 1. Plaintiff has filed the present Suit seeking a money decree against the Defendant in the sum of Rs.7,55,96,767/- together with interest. Page No. 1 of 49 katkam/megha/ k 901 cs suit 57.22 J os fc_corrected.doc A. FACTS 2. Plaintiff is a Company registered under the Companies Act, 1956 and is engaged in the business inter alia of providing financial advice and other consultation to banks and financial institutions. Defendant is a Nationalised Bank engaged in the business of providing banking services in India. On 21 June 2017, Defendant- Bank issued an advertisement/Expression of Interest (EOI) inviting applications for empanelment as Financial Advisor for sale of its Non- Performing Assets (NPA). Under the EOI issued