Cane Agro Energy (India) Limited v. Sucden India Private Limited

(3) Comap 384-19

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION Amk COMMERCIAL APPEAL NO. 384 OF 2019 IN COMM. ARBITRATION PETITION (L) NO. 349 OF 2019 Cane Agro Energy (India) Ltd.

.. Appellant Vs.

Sucden India Ltd.

.. Respondent Mr. R. S. Apte, Senior Advocate i/b P. D. Pise for the Appellant. Mr. Prasad Shenoy a/w. Ms. Anusha Jacob i/b AZB & Partners for the Respondent.

CORAM : PRADEEP NANDRAJOG, C.J. & SMT. BHARATI DANGRE, J.

DATE : 7 th NOVEMBER, 2019.

P. C. :

1.

Having heard learned Senior Counsel for the Appellant, we find no infirmity in the impugned order dated 10.04.2019 for the reason learned Counsel for the Appellant does not dispute the factual aspect of the impugned order. The Appellant had received 19,99,92,000/- ₹ from the Respondent with an obligation to supply sugar. Full quantity of sugar was not supplied. The Appellant admits that in the ledger account maintained by the Appellant as of 07.05.2019 19,49,24,871.50 was outstanding to the credit of the Respondent. We ₹ have asked learned Senior Counsel for the Appellant to what security the Appellant can furnish for the satisfaction of the claim of the Respondent. Learned Senior Counsel states as of today nothing. 1/2

(3) Comap 384-19 2.

Thus, the direction in the impugned order requiring the Appellant to furnish an unconditional bank guarantee from a nationalized bank in sum of 19,99,92,000/- does not warrant any ₹ interference. The Appeal is dismissed.

[SMT. BHARATI DANGRE, J.] [CHIEF JUSTICE] Digitally signed by Arjun M.

Kadam Date:

2019.11.08 16:19:55 +0530 Arjun M.

Kadam 2/2