Reliance Aif Management Company Limited v. Religare Credit Investments Trust And 3 ORS

501-LPETN-152-19.doc Sharayu Khot.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION LEAVE PETITION NO. 152 OF 2019 IN COMMERCIAL SUIT (L) NO. 986 OF 2019 Reliance AIF Management Company Limited ...Applicant/ Plaintiff

Versus

Religare Credit Investments Trust & Ors.

...Defendants ---------- Mr. Chetan Kapadia, a/w Mr. Deepak Deshmukh, Mr. Aman Chaudhary, i/by Naik Naik & Co., for the Plaintiff. ---------- CORAM :

R.I. CHAGLA J.

DATE :

16 September 2019 ORDER :

1.

Not on board. Taken on production board.

2.

This Petition is under Clause XII of the Letters Patent. The proposed Suit is for a declaration that the agreement and undertaking given by the Defendants No. 1 to 3 contained in the second NOC requiring them to take prior consent of the Plaintiff 1 / 2 September 16, 2019

501-LPETN-152-19.doc before instituting legal proceedings against Defendant No. 4 is valid, subsisting and binding upon Defendants No. 1 to 3 and for an order and decree directing Defendants No. 1 to 3 not to act contrary to and in breach of Clause 11 of the second NOC.

3.

The Plaintiff is carrying on business in Mumbai. Respondents/Defendants No. 3 and 4 also carry on their business in Mumbai. The second NOC was issued by the Defendants No. 1 to 3 to the Plaintiff in Mumbai and undertakings contained therein has been accepted by the Plaintiff in Mumbai. However, the Defendants No. 1 and 2 have their registered office at New Delhi. 4.

I am satisfied that the material part of cause of action has arisen within the jurisdiction of this Court. With leave granted under Clause XII of the Letters Patent, this Court will have jurisdiction to entertain and try the Suit.

5.

Leave granted. The Petition is made absolute. [R.I. CHAGLA J.] 2 / 2 September 16, 2019