M/S. PREMIUM EXCHANGE & FINANCE LTD.&ANR vs M/S. S.N. BAGLA & CO. .

The Supreme Court ruled that the application under Section 47 C.P.C. filed by the respondents was misconceived and not maintainable, as the Executing Court lacked authority to set aside or modify the consent decree dated 26th April 2002, which mandated that the valuation by Ernst & Young was final and binding. The Court emphasized that any grievances regarding the valuation should have been addressed in a competent court rather than in the Executing Court. Consequently, the Court set aside the Division Bench's judgment and the Executing Court's order, allowing the respondents to seek appropriate remedies as per law.