Abinandan Holdings Private Limited v. Jm Financial Asset Reconstruction Limited And ANR.

IN THE HIGH COURT AT CALCUTTA

CIVIL APPELLATE JURISDICTION COMMERCIAL APPELLATE DIVISION APPELLATE SIDE

Present:

The Hon'ble Justice Debangsu Basak And The Hon'ble Justice Md. Shabbar Rashidi AO-COM/65/2025 ABINANDAN HOLDINGS PRIVATE LIMITED VS.

JM FINANCIAL ASSET RECONSTRUCTION COMPANY LIMITED AND ANR.

IA NO: CAN/1/2025, CAN/2/2026 For the Appellant :

Mr. Saptangsu Basu, Ld. Senior Advocate Mr. Abhrajit Mitra, Ld. Senior Advocate Mr. Sushovit Dutt Majumder, Advocate Mr. Sarosij Dasgupta, Advocate Mr. Sagnik Shaw, Advocate For the Respondent No.1 :

Mr. Mainak Bose, Ld. Senior Advocate Mr. Y. Bhattacharyya, Advocate Ms. Akansha Yadav, Advocate Heard & Judgment on: May 7, 2026 Debangsu Basak, J.

1. Appeal is at the behest of the plaintiff in a suit for specific performance and directed against Order No. 50 dated December 17, 2025 passed in TS (Com)-39 of 2024.

2. We disposed of a connected appeal emanating out of another order passed in TS (Com)-39 of 2024 today.

AO-COM/65/2025

3. By the impugned order, learned Trial Judge rejected the application for relief against forfeiture on the ground that, no irreparable loss and injury was shown to be caused to the plaintiff, if the relief was refused.

4. On the parity of the reasoning as noted by us in our order passed today in respect of the connected appeal, we find no ground to interfere with the order impugned. The appellant as the plaintiff is not ready and willing to deposit the monetary value ingrained in the agreement which the appellant as the plaintiff seek specific performance in the suit.

5. AO-COM/65/2025 along with the connected applications are dismissed without any order as to costs.

(Debangsu Basak, J.)

6. I agree (Md. Shabbar Rashidi, J.) Dd