Indu Nissan Oxo Chemicals Industries Ltd. v. Icici Ltd. And 4 ORS.

903-IA1-19INWP2875-18.DOC Santosh

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION No. 1 OF 2019 IN WRIT PETITION NO. 2875 OF 2018 Indu Nissan Oxo Chemicals Industries Ltd.

...Applicant In the matter between Indu Nissan Oxo Chemicals Industries Ltd.

...Petitioner

Versus

ICICI Ltd. & ors.

...Respondents

Mr. Arun Mehta, for the Applicant/Petitioner. Mr. Apoorv Karekar, i/b M/s. Divekar Bhagwat & Co., for Respondent no.1.

CORAM:

N. J. JAMADAR, J.

DATED:

25th OCTOBER, 2019 (Vacation Court) PC:- 1.

Heard Mr. Mehta, the learned Counsel for the applicant/petitioner and Mr. Karekar, the learned Counsel for respondent no.1 - Bank.

2.

This Court by order dated 1st November, 2018 had, in accordance with the Consent Terms executed between the parties, directed that the T.O.A. No.1441 of 2016, pending before the Debts Recovery Tribunal - I at Mumbai, shall be heard and fnally disposed of within a period of one year thereof. The said period expires by 31st October, 2019. 3.

The petitioner has taken out this Interim Application for extension of time to decide the above mentioned T.O.A. 1/2

903-IA1-19INWP2875-18.DOC There is no regular Presiding Offcer at Debts Recovery Tribunal - I, Mumbai and the charge is with the Debts Recovery Tribunal, Pune.

4.

Respondent no.1 - Bank has no objection for the extension of time. It is submitted that, the in-charge Debts Recovery Tribunal has now posted the matter in the month of February-2020.

5.

In the aforesaid view of the matter, the request for extension of time by six months appears reasonable. Hence, the Interim Application No.1 of 2019, stands allowed in terms of prayer Clause (a), which reads as under:

(a) This Hon'ble Court may be pleased to extend time for 6 months from 01.11.2019 and direct to the Debt Recovery Tribunal, Mumbai to decide TOA No.1441/2016 and necessary order may be passed in respect thereof."

[N. J. JAMADAR, J.] 2/2