Aviva Life Insurance Company India Limited v. Reliance Capital Limited And ANR

1 5-Lpetnl 416-19 in comsl 1191-19 psv

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION LEAVE PETITION (L.) NO.416 OF 2019 IN COMMERCIAL SUIT (L.) NO.1191 OF 2019 Aviva Life Insurance Company India Ltd.

..Applicant/org.

Plaintiff In the matter between Aviva Life Insurance Company India Ltd.

..Petitioner

Versus

Reliance Capital Ltd. & Anr.

..Respondents ----- Mr. Rohan Sawant, Mr.Vijayendra Purohit, Mr.Rajat Mahindroo i/b. Manilal Kher Ambalal & Co. for Plaintiff.

Mr. i/b. Mr. for Defendant No.6.

---- CORAM : G.S. KULKARNI, J.

DATE : 13th NOVEMBER, 2019 P.C.:

Heard learned Counsel for the petitioner.

2.

This is a petition seeking leave under Clause XII of the Letters Patent. The averments in the plaint indicate that the corporate office of defendant No.1 is situated in Mumbai. Defendant No.1 also carries its business from Mumbai. The secured redeemable non-convertible debentures were issued by defendant No.1 and subscribed by the plaintiff from and at Mumbai. The payment of the amounts in respect of the principal and interest amount towards and under the NCD's is also

2 5-Lpetnl 416-19 in comsl 1191-19 made by defendant No.1 to the plaintiff in Mumbai only at HDFC Bank, Fort Branch. Declarations of defendant No.1 dated 15 October, 2019, 17 October 2019 and 5 November 2019 were also made at Mumbai, in both Bombay Stock Exchange and National Stock Exchange of inability of petitioner/plaintiff to make payment of the amount due towards the other series of debentures. The Debenture Trust Deed was executed on 10 December 2014 at Ahmedabad. Also in clause 56 of the Debenture Trust Deed, the parties do not confer exclusive jurisdiction on the Courts at Gujarat.

3.

In the above circumstances with the leave of this Court being granted under Clause XII of the Letters Patent, this Court would have jurisdiction to try and entertain this suit. The leave petition is accordingly allowed in terms of prayer clause (a). 4.

Disposed of in the above terms. No costs.

[G.S. KULKARNI, J.]