Bharat Bhagwanji Mashkaria And ANR. v. Pratham Associates And 7 ORS And The Federal Bank Ltd.(Applicant)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.1991 OF 2017 IN SUIT NO.18 OF 2014 The Federal Bank Ltd.

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Applicant and Bharat Bhagwanji Mashkaria and Anr. ...

Plaintiffs versus M/s. Pratham Associates and Ors.

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Defendants Ms. Durga S. Soni i/by mr. Vivek S. Sawant, for Applicant - Federal Bank Ltd. Mr. Vora i/by M/s. Pramodkumar and Co., for Plaintiff. Mr. Smit Nagda i/by Mr. Anilkumar Patil, for Defendant Nos.2(a) to 2(c). CORAM: S.J. KATHAWALLA, J.

DATE: 19th DECEMBER, 2017 P.C.:

1.

Perused the order dated 7 th January, 2016. The Applicant - Federal Bank Ltd., has now assigned its debts to Omkara Assets Reconstruction Pvt. Ltd. A copy of the registered deed executed between the Federal Bank Ltd. and Omkara Assets Reconstruction Pvt. Ltd. is annexed to the Affidavit in support of the above Notice of Motion. In clause (h) of paragraph No.5 of the Registered Deed, the assignee - Omkara Assets Reconstruction Pvt. Ltd., has confirmed and undertaken that they would comply with the submissions made by the Federal Bank as recorded in the order dated 07-01-2016 in Suit No.18 of 2014 filed before this Court and shall abide by the said order.

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In view thereof, the Federal Bank Ltd., is allowed to proceed with the deed of assignment and the order passed by this Court dated 07-01-2016 shall be binding on Omkara Assets Reconstructions Pvt. Ltd. 3.

The above Notice of Motion is accordingly disposed off. ( S.J.KATHAWALLA, J. ) ssp 2/2