Divya Enterprises vs Capri Global Capital Limited

Judgment text excerpt

Neeta Sawant FC IA 25700 OF 2025 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION (L) NO. 25700 OF 2025 IN COMMERCIAL SUIT (L) NO.23360 OF 2025 M/s Divya Enterprise and Others ….Applicants In the matter between: Capri Global Capital Limited ….Plaintiff : Versus : M/s Divya Enterprise (Partnership Firm ) and Others ….Defendants Mr. Nausher Kohli with Ms. Shikha Ginodia, Mr. Gaurav Suryawanshi and Ms. Simran K. i/b M/s ANM Global for the Plaintiff. Mr. Savita Nangare with Mr. Vinod Nagula and Ms. Disha Shah i/b M/s Law Focus For Defendant Nos. 1 to 4 and for Applicant in IA(L) No. 25700 of 2025. Mr. Shanay Shah with Ms. Riya Thakkar i/b Mr. Tushar Goradia for Defendant No.5. CORAM : SANDEEP V. MARNE, J. Judg. Resd. On: 30 September 2025. Judg. Pron. On: 09 October 2025. JUDGMENT: 1) The Defendants have filed the present Application for reference of the dispute in the Suit to Arbitration. Page No.1 of 34 9 October 2025 Neeta Sawant FC IA 25700 OF 2025 2) Plaintiff has filed the present Suit for enforcement of mortgage under Section 8 of the Arbitration and Conciliation Act, 1996 (the Arbitration Act). Defendant Nos.1 to 4 have appeared in the Suit and have filed the present Application seeking reference of dispute raised in the Suit to Arbitration under the provisions of Section 8 of the Arbitration Act. Defendant No.1 and his partners are developers appointed for redevelopment of Defendant No.5- Society under Development Agreement dated 28 February 2014 and Supplemental Development Agreement dated 16 March 2021. Plaintiff extended various credit facilities to Defendant No.1 under various loans/facility Agreements as security. Defendant No.1 created mortgage in favour of the Plaintiff in respect of certain rights derived un