Tata Capital Financial Services Ltd. v. Hallmark Steel Pvt. Ltd. And 4 ORS.

911-NMCD73-17.DOC ATUL

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION NOTICE OF MOTION NO. 73 OF 2017 IN COMM SUIT NO. 29 OF 2016 Tata Capital Financial Services Ltd ...Plaintiff

Versus

Hallmark Steel Pvt Ltd & Ors ...Defendants Mr Mayur Khandeparkar, with Mr O Shaikh, i/b Vikas Salvi & Associates, for the Plaintiff.

Mr Sandeep S Sharma, for the Defendants.

Mrs Kavita Ambekar, Ist Assistant to the Court Receiver, is present.

CORAM: G.S. PATEL, J DATED:

24th March 2017 PC:- 1.

This is the Plaintiff's Notice of Motion for discharge of the Court Receiver appointed of the mortgaged properties by an order dated 23rd June 2016. The properties are Flat Nos. 401 and 402, 4th Floor, Mansha, Mangal Mansha CHS Ltd, 11 Union Park, Khar (West), Mumbai 400 052.

2.

The Plaintiff is a Financial Institution under the provisions of the Securitisation and Reconstruction of Financial Assets and 24th March 2017

911-NMCD73-17.DOC Enforcement of Security Interest Act 2002. It has adopted proceedings under the SARFAESI Act 2002. It, therefore, seeks a discharge of the Receiver and delivery of the possession of the properties to the Plaintiff's authorized officer. 3.

The Notice of Motion must be allowed. It is made absolute in terms of prayer clause (a).

4.

The Court Receiver stands discharged without passing accounts. His costs, charges and expenses will be paid by the Plaintiff within four weeks from today.

5.

The Court Receiver will act on an authenticated copy of this order.

(G. S. PATEL, J.) 24th March 2017