RELIANCE ASSET RECONSTRUCTION COMPANY LIMITED vs HIROO HOTCHAND ADVANI AND ANR

Judgment text excerpt

12-CHS-550-2019 & CHS-552-2019.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY AND ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO.550 OF 2019 IN COMMERCIAL EXECUTION APPLICATION NO.43 OF 2025 RELIANCE ASSET RECONSTRUCTION ) COMPANY LIMITED )…APPLICANT V/s. HIROO HOTCHAND ADVANI AND ANOTHER )...RESPONDENTS WITH COMMERCIAL EXECUTION APPLICATION NO.43 OF 2025 AND CHAMBER SUMMONS NO.552 OF 2019 IN COMMERCIAL EXECUTION APPLICATION NO.44 OF 2025 RELIANCE ASSET RECONSTRUCTION ) COMPANY LIMITED )…APPLICANT V/s. HIROO HOTCHAND ADVANI AND ANOTHER )...RESPONDENTS WITH COMMERCIAL EXECUTION APPLICATION NO.44 OF 2025 Mr.Ashish Kamat, Senior Advocate a/w. Mr.Nikhil Rajani, Mr.Vinay Deshpande and Mr.Ajay Deshmane i/by M/s.V.Deshpande & Co., Advocate for the Applicant. Mr.Pankaj Savant, Senior Advocate a/w. Ms.Joshua D’Souza, Mr.Chirag Sancheti, Mr.Asif Lampwala and Mr.Saad Memon i/by Bulwark Solicitors, Advocate for the Respondents. CORAM : ABHAY AHUJA, J. RESERVED ON : 9th DECEMBER 2025 PRONOUNCED ON : 23rd MARCH 2026 avk 1/22 12-CHS-550-2019 & CHS-552-2019.doc ORDER : 1. The two Chamber Summonses seek assistance in execution of the awards dated 22nd October 2012 and for deposit of the decretal amounts along with interest after respectively adjusting part of the amounts of Rs.5,11,113/- and Rs.13,51,740/- of the demand draft of Rs18,62,853/- received from the Judgment Debtors. The Applicant in the Execution Applications as well as in the Chamber Summonses is the assignor of the Decree holder who had loaned monies around 2010 to 2011 to the Judgment Debtors under two loan accounts : loan account no.RALPMUM000043150 amounting to INR 2,50,00,000/- and loan account no.RALPMUM000045338 amounting to INR 1,56,00,000/-. Since disputes arose between the parties on account of the two Jud