Stressed Assets Stabilization Fund v. Damania-I.

chs439-14.doc sg

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ADMIRALTY AND VICE ADMIRALTY JURISDICTION CHAMBER SUMMONS NO.439 OF 2014 IN ADMIRALTY SUIT NO.102 OF 1999 Stressed Assets Stabilization Fund ...Plaintiff vs Damania-I ...Defendant WITH NOTICE OF MOTION NO.34 OF 2002 IN ADMIRALTY SUIT NO.102 OF 1999 I.D.B.I.

...Plaintiff vs Damania-I ...Defendant .....

Mr. Rashmin Khandekar a/w. Mr. Naresh Chheda, i/b. M/s. Dhruve Liladhar & Co., for the Plaintiff.

Mr. V.K. Ramabhadran, Senior Advocate a/w. Mr. A. Fernandes & Mr. Deepak Motiwalla and S. Pandey, Mr. Suprabh Jain, Ms. Nausheen Rayani and Mr. Ryan Mendes. i/b. Motiwallla & Co., for the Defendants. .....

CORAM : S.C. GUPTE, J.

DATED : JANUARY 27, 2015 P.C. :

.

The Chamber Summons is taken out by the Board of Trustees of the Port of Mumbai, who are Defendant No.2 in the present Admiralty Suit. The Chamber Summons seeks a direction against the Pg 1 of 2

chs439-14.doc Plaintiff to pay a certain sum and in the alternative, an order for sale of the vessel. It appears that the suit vessel was originally under arrest by an order dated 18 December 1999. By an order passed by a learned Single Judge on 17 November 2014 and confirmed by a Division Bench of this Court on 5 January 2015, the vessel was ordered to be released subject to there being no valid caveat against such release. In its order the Division Bench directed the Chamber Summons taken out by Defendant No.2 herein to be heard expeditiously. 2.

Learned Counsel for Defendant No.2 now applies for withdrawal of the Chamber Summons with liberty to Defendant No.2 to adopt appropriate proceedings as and when the vessel is sold. The parties to the suit have no objection to the Chamber Summons being withdrawn with liberty as prayed.

3.

The Chamber Summons is accordingly dismissed as withdrawn with liberty as prayed. The Court is informed that because of the pendency of the Chamber Summons, the vessel was not being released. It is clarified that there is now no restriction on the release. ( S.C. GUPTE, J. ) Pg 2 of 2