Icici Bank Ltd. v. The Official Liquidator, H. C. Bombay, As Liqu. Of Patheja Forgings And Auto Parts Mfg. Ltd. And 5

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS (L) NO. 1096 OF 2012 NOTICE OF MOTION NO. 2078 OF 2012 NOTICE OF MOTION NO. 1663 OF 2013 SUIT NO. 771 OF 2002 Unimers India Ltd. & Ors.

Mr. Shushrut Desai i/b Mr. Sujit S. Suryavanshi i/b Vigil Juris for Defendant No.1.

SUIT NO. 4751 OF 1998 The Official Liquidator of Poysha Industries Co.Ltd. & Ors.

JUDGES ORDER NO. 68 OF 2006 SHOW CAUSE NOTICE NO. 1209 OF 2005 NOTICE OF MOTION NO. 757 OF 2016 SUIT NO. 5237 OF 1998 Waghmare 1/8

The Official Liquidator & Ors.

Mr. Mandar Soman for Defendant Nos.3 to 6.

COURT RECEIVER EXECUTION NO. 468 OF 1999 NOTICE OF MOTION NO. 2198 OF 2012 NOTICE OF MOTION NO. 198 OF 2014 NOTICE OF MOTION NO. 1417 OF 2013 SUIT NO. 468 OF 1999 Jayant Vitamins Ltd. & Ors.

Mr. Nikhil Rajani i/b M/s. V. Deshpande & Co. for Defendant No.2. CHAMBER SUMMONS NO. 1006 OF 2014 SUIT NO. 1098 OF 1999 B.D. Industries Ltd. & Anr.

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COURT RECEIVER EXECUTION NO. 3406 OF 1999 JUDGES ORDER NO. 67 OF 2006 NOTICE OF MOTION NO. 301 OF 2016 SUIT NO. 3406 OF 1999 The Official Liquidator, H.C. Bombay & Ors.

Ms.Megha A. Mohite i/b JMB Partners for Defendant No.2. Ms. Ferzana Behramkanmdin i/b FZB and Associates for Defendant Nos.3 to 5.

CHAMBER SUMMONS NO. 1548 OF 2015 SUIT NO. 3728 OF 1999 The Official Liquidator of Garware Nylons Ltd. & Ors. CHAMBER SUMMONS NO. 617 OF 2016 NOTICE OF MOTION NO. 2334 OF 2016 SUIT NO. 3945 OF 1999 Heatshrink Technologies Ltd. & Ors.

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Mr. R.M. Vaassodew for Defendant No.1.

Ms. Sharila D'souza i/b Flavia Legal for Defendant No.13. SUIT NO. 3973 OF 1999 Indu Nissan Oxo Chemical Industries Ltd. & Ors. Mr. Sanket Shah i/b Akshar Laws for Defendant No.1. COURT RECEIVER EXECUTION NO. 1441 OF 2000 SUIT NO. 1441 OF 2000 ICICI Ltd.

Nath Capital & Financial Services Ltd.

SUIT NO. 2209 OF 2000 The Official Liquidator of Lloyds Finance Ltd.& Ors. SUIT NO. 2759 OF 2000 Waghmare 4/8

Mayo India Ltd.

.. Defendant NOTICE OF MOTION NO. 163 OF 2012 SUIT NO. 918 OF 2002 Ishar Alloy Steels Ltd. & Ors.

Mr. J.B. Naviani i/b Kusumarkar Kaushik for Defendant No.9. SUIT NO. 1314 OF 2002 The Official Liquidator, H.C. Bombay as Liqu. Of Patheja Forgings & Auto CHAMBER ORDER (L) FOR CONDONATION OF DELAY NO. 78 OF 2004 SUIT NO. 1138 OF 2003 ICICI Bank Ltd. (Debenture Trustees) Chemox Laboratories Ltd. & Ors.

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CHAMBER ORDER (L) FOR CONDONATION OF DELAY NO. 79 OF 2004 COURT RECEIVER EXECUTION NO. 2174 OF 2003 SUIT NO. 2174 OF 2003 Armour Chemical Ltd. & Ors.

SUIT NO. 2332 OF 2003 The Official Liquidator, H.C.

Ahmedabad of Maheshwari Mills Ltd. & Ors.

SUIT NO. 2861 OF 2003 Mehar Dairy Industries Ltd. & Anr.

SUIT NO. 227 OF 2006 Waghmare 6/8

Carona Ltd. & Ors.

CORAM : K.R. SHRIRAM, J.

DATED : 7TH OCTOBER, 2016.

P.C.

The counsel for the plaintiff states that after the Larger Bench disposed of the matter by an order dated 7th March, 2016 holding that this court will have jurisdiction to decide the subject matter of the suit, the matter was placed before the Appeal Bench and the Appeal Bench set aside the earlier order of the Single Judge and remanded the matter back for further proceedings. The counsel for the plaintiff further states that in the meanwhile there has been an amendment to the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 pursuant to the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016, which has come into effect from 1st September, 2016 pursuant to notification no.2142 issued on 1st September, 2016. The counsel for the plaintiff states that in view of Section 26 of the Amending Act, Section 2 of the Debt Recovery Tribunal Act has under Waghmare 7/8

gone some amendments. In view of the amended provisions, the counsel for the plaintiff states that this court will not have jurisdiction and the matter will have to be transferred to Debt Recovery Tribunal for further adjudication.

The registry to take steps to transfer the suit as well as interim applications to the Debt Recovery Tribunal within six weeks from today. The Court Receiver, who has been appointed shall continue for a period of 16 weeks and in the meanwhile the plaintiff may move the Debt Recovery Tribunal for appropriate reliefs.

(K.R. SHRIRAM, J.) Waghmare 8/8