L And T Finance Limited v. Sandeep Shinde And ANR And Cfm Asset Reconstruction Private Limited (Applicant)

1 3-IA 1-20 in exal 2320-17 psv

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO.1 OF 2020 IN EXECUTION APPLICATION (L.) NO.2320 OF 2017 CFM Asset Reconstruction Pvt. Ltd.

..Applicant In the matter between L & T Finance Ltd.

..Org.Claimant/Decree Holder V/s.

Mr.Sandeep Shinde & Anr.

..Respondents/judgment debtors ----- Mr.Shadad Khan with Mr.Rebin Gralan i/b. D.S. Law for Applicant. Mr.Sandeep Shinde, Respondent No.1 in person. ----- CORAM : G.S. KULKARNI, J.

DATE : 28th JANUARY, 2020 P.C.:

By this application, the applicant-CFM Asset Reconstruction Pvt. Ltd. has prayed that the applicant is substituted as claimant/decree holder in place of L & T Finance Limited, original decree holder in view of the decree being assigned to the applicant under the Deed of Assignment dated 26 June 2019 entered under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. Accordingly, now the applicant has stepped into the shoes of the original decree holder - L & T Finance Limited. 2.

Having perused the averments as made in the application, it is in the interest of justice that the interim application is allowed. It is accordingly allowed in terms of prayer clauses (a) and (b). Necessary amendment be carried out on or before 3 February 2020 as the parties intend to place on record consent terms. Re-verification is dispensed with. 3.

Interim application stands disposed of in the above terms. [G.S. KULKARNI, J.]