Madras High CourtArb Appln/757/2025allowed

Vivriti Capital Limited v. Prafful Overseas Private Limited

2025-06-17Honourable Mr Justice Abdul Quddhose15 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 17.06.2025

CORAM

THE HONOURABLE Mr. JUSTICE ABDUL QUDDHOSE Arbitration Application Nos. 757, 758, 759, 760 & 761 of 2025 in Arb. Application Nos. 449, 450, 451, 453 & 452 of 2025 and Application No.2698 of 2025 in Arb O.P. (Comm.Div.) No. 189 of 2025 Arb Application No.757 of 2025:- Vivriti Capital Limited No.200/1-8, Second Floor, Block 1 Anna Salai, Chennai, Tamil Nadu - 600002.

and having its office at Vibgyor Towers, Unit No.302 Mumbai - 400 051.

... Applicant Vs.

1. Prafful Overseas Private Limited 349, 1st Floor, Naya Katra, Chandni Chowk New Delhi - 110006

also having its Corporate Office 101-102, Sagar Shopping Centre Sahar Darwaja Ring Road Surat, Gujarat - 395003.

2. Raveesh Aggarwal

3. Ayush Aggarwal

4. Shiv Narain Aggarwal

5. Varun Aggarwal

6. Sri Narain Aggarwal ... Respondents PRAYER: Application filed under Order XIV Rule 8 Original Side Rules read with Order XXII Rule 1 of Code of Civil Procedure, praying to substitute the name and address of the Asset Care & Reconstruction Enterprise Limited in place of the applicant /applicant in the above application in Arb App. No. 449 of 2025 as ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED Registered as an Asset Reconstruction Company under Section 3 of SARFAESI Act, 2002 having its registered office at 14th Floor, Eros Corporate Towers Nehru Palace, New Delhi - 110019 and Corporate Office at 502, C Wing, One BKC, Bandra Kurla Complex Mumbai - 400051 in place of VIVRITI CAPITAL LIMITED

having its registered office at :

No.200/1-8, 2nd Floor, Block 1 Anna Salai, Chennai Tamil Nadu - 600002 And having its office at Vibgyor Towers Unit NO.302 Mumbai - 400051 along with consequential amendment in the cause title and further waive the requirement of re-verification by the Asset Care & Reconstruction Enterprise Limited in the above application For Applicant : Mr.Sunil A.Viyas Arb Application No.758 of 2025:- Vivriti Capital Limited No.200/1-8, Second Floor, Block 1 Anna Salai, Chennai, Tamil Nadu - 600002.

and having its office at Vibgyor Towers, Unit No.302 Mumbai - 400 051.

... Applicant Vs.

1. Prafful Overseas Private Limited 349, 1st Floor, Naya Katra, Chandni Chowk New Delhi - 110006 also having its Corporate Office 101-102, Sagar Shopping Centre Sahar Darwaja Ring Road Surat, Gujarat - 395003.

2. Raveesh Aggarwal

3. Ayush Aggarwal

4. Shiv Narain Aggarwal

5. Varun Aggarwal

6. Sri Narain Aggarwal ... Respondents PRAYER: Application filed under Order XIV Rule 8 Original Side Rules read with Order XXII Rule 1 of Code of Civil Procedure, praying to substitute the name and address of the Asset Care & Reconstruction Enterprise Limited in place of the applicant /applicant in the above application in Arb App. No. 450 of 2025 as ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED Registered as an Asset Reconstruction Company under Section 3 of SARFAESI Act, 2002 having its registered office at 14th Floor, Eros Corporate Towers Nehru Palace, New Delhi - 110019 and Corporate Office at

502, C Wing, One BKC, Bandra Kurla Complex Mumbai - 400051 in place of VIVRITI CAPITAL LIMITED having its registered office at :

No.200/1-8, 2nd Floor, Block 1 Anna Salai, Chennai Tamil Nadu - 600002 And having its office at Vibgyor Towers Unit No.302 Mumbai - 400051 along with consequential amendment in the cause title and further waive the requirement of re-verification by the Asset Care & Reconstruction Enterprise Limited in the above application For Applicant : Mr.Sunil A.Viyas Arb Application No.759 of 2025:- Vivriti Capital Limited No.200/1-8, Second Floor, Block 1 Anna Salai, Chennai, Tamil Nadu - 600002.

and having its office at Vibgyor Towers, Unit No.302

Mumbai - 400 051.

... Applicant Vs.

2. Raveesh Aggarwal

3. Ayush Aggarwal

4. Shiv Narain Aggarwal

5. Varun Aggarwal

having its registered office at 14th Floor, Eros Corporate Towers Nehru Palace, New Delhi - 110019 and Corporate Office at 502, C Wing, One BKC, Bandra Kurla Complex Mumbai - 400051 in place of VIVRITI CAPITAL LIMITED having its registered office at :

No.200/1-8, Second Floor, Block 1 Anna Salai, Chennai, Tamil Nadu - 600002.

and having its office at Vibgyor Towers, Unit No.302 Mumbai - 400 051.

... Applicant Vs.

2. Raveesh Aggarwal

3. Ayush Aggarwal

4. Shiv Narain Aggarwal

5. Varun Aggarwal

application in Arb App. No. 452 of 2025 as ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED Registered as an Asset Reconstruction Company under Section 3 of SARFAESI Act, 2002 having its registered office at 14th Floor, Eros Corporate Towers Nehru Palace, New Delhi - 110019 and Corporate Office at 502, C Wing, One BKC, Bandra Kurla Complex Mumbai - 400051 in place of VIVRITI CAPITAL LIMITED having its registered office at :

Arb Application No.761 of 2025:- Vivriti Capital Limited No.200/1-8, Second Floor, Block 1 Anna Salai, Chennai, Tamil Nadu - 600002.

and having its office at Vibgyor Towers, Unit No.302 Mumbai - 400 051.

... Applicant Vs.

2. Raveesh Aggarwal

3. Ayush Aggarwal

4. Shiv Narain Aggarwal

5. Varun Aggarwal

6. Sri Narain Aggarwal ... Respondents PRAYER: Application filed under Order XIV Rule 8 Original Side Rules read with Order XXII Rule 1 of Code of Civil Procedure, praying

to substitute the name and address of the Asset Care & Reconstruction Enterprise Limited in place of the applicant /applicant in the above application in Arb App. No. 453 of 2025 as ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED Registered as an Asset Reconstruction Company under Section 3 of SARFAESI Act, 2002 having its registered office at 14th Floor, Eros Corporate Towers Nehru Palace, New Delhi - 110019 and Corporate Office at 502, C Wing, One BKC, Bandra Kurla Complex Mumbai - 400051 in place of VIVRITI CAPITAL LIMITED having its registered office at :

For Applicant : Mr.Sunil A.Viyas Application No.2698 of 2025:- Vivriti Capital Limited No.200/1-8, Second Floor, Block 1 Anna Salai, Chennai, Tamil Nadu - 600002.

and having its office at Vibgyor Towers, Unit No.302 Mumbai - 400 051.

... Applicant Vs.

2. Raveesh Aggarwal

3. Ayush Aggarwal

4. Shiv Narain Aggarwal

5. Varun Aggarwal

6. Sri Narain Aggarwal ... Respondents PRAYER: Application filed under Order XIV Rule 8 Original Side

Rules read with Order XXII Rule 1 of Code of Civil Procedure, praying to substitute the name and address of the Asset Care & Reconstruction Enterprise Limited in place of the applicant /applicant in the above application in Arb O.P. (Comm.Div.) No. 2698 of 2025 as ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED Registered as an Asset Reconstruction Company under Section 3 of SARFAESI Act, 2002 having its registered office at 14th Floor, Eros Corporate Towers Nehru Palace, New Delhi - 110019 and Corporate Office at 502, C Wing, One BKC, Bandra Kurla Complex Mumbai - 400051 in place of VIVRITI CAPITAL LIMITED having its registered office at :

Enterprise Limited in the above application For Applicant : Mr.Sunil A.Viyas C O M M O N O R D E R This Court is satisfied with the reasons contained in the affidavits filed in support of these applications for substituting the name of 'ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED' in the place of 'VIVRITI CAPITAL LIMITED'. Accordingly, these applications are allowed as prayed for.

2. The learned counsel for the applicant is directed to carry out the necessary amendments in terms of this order before the next hearing date.

3. Post on 01.07.2025.

17.06.2025 Maya

ABDUL QUDDHOSE, J.

Maya Arb Application Nos. 757 to 761 of 2025 17.06.2025