Itc Ltd. v. Indiabulls Enterprises Limited

by JITENDRA SHANKAR NIJASURE Date:

2023.04.11 14:56:57 +0530 JITENDRA SHANKAR NIJASURE jsn

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO.15 OF 2019 IN EXECUTION APPLICATION (L) NO.2652 OF 2018 WITH REVIEW PETITION (L) NO.867 OF 2022 ITC Limited ...Applicant / Petitioner

Versus

Indiabulls Enterprises Ltd.

...Respondent

---------- Mr. Mutahhar Khan i/b. Rajesh Gupta for the Applicant in CHS No.15 of 2019 and for Respondent in RP(L) No.867 of 2022. Mr. Anil D'souza with Valentine Mascarenhas with Mr. Ernest Tuscano, for Respondent in CHS No.15 of 2019 and Petitioner in RP(L) No.867 of 2022.

---------- CORAM :R.I. CHAGLA J DATE :6 APRIL 2023 ORDER :

1.

The parties have arrived at an amicable settlement in the above Execution Application.

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2.

This Court by order dated 17th March, 2023, as and by way of final opportunity given to the Respondent, directed that they shall comply with order dated 14th December, 2021 within a period of two weeks failing which order under Order XXI, Rule 41(3) of the Code of Civil Procedure, 1908 will be passed for which the Managing Director and Company Secretary of the Respondent No.1 - Company shall remain present on the next date for facing consequences under the said provision of CPC. Thereafter, the Respondent has made payment of Rs.20 lakh by RTGS on 6th April, 2023 to the Applicant. 3.

Mr. Khan learned Counsel for the Applicant states on instructions that the amount of Rs.20 lakh paid by the Respondent by RTGS on 6th April, 2023 has been received and accordingly the Award dated 19th July, 2017 may be marked as satisfied. 4.

In view of the settlement arrived at between the parties having been complied with, the Award dated 19th July, 2017 is marked satisfied.

5.

The Execution Application (L) No.2652 of 2018 is disposed of as having been settled.

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6.

Chamber Summons No.15 of 2019 does not survive and is accordingly disposed of.

7.

The Review Petition (L) No.867 of 2022 is disposed of as withdrawn.

[R.I. CHAGLA J.] 3/3