Idbi Bank v. B. R. Films

Amberkar

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

O.O.C.J.

COMMERCIAL SUIT NO. 39 OF 2025 WITH INTERIM APPLICATION NO. 6111 OF 2025 WITH INTERIM APPLICATION NO. 5137 OF 2025 IDBI Bank Ltd .. Plaintiff

Versus

B.R. Films & Ors.

.. Defendants ....................

 Mr. Anil Singh, Senior Advocate a/w Ms. Fatema Kachwalla, Mr. Adarsh Vyas & Mr. Virgil Braganza i/by JSA, Advocates for Plaintiff  Mr. Chirag Mody i/by AMR Law, Advocate for Defendant Nos. 1, 3 & 4  Mr. Dipesh Siroya i/by LIM Legit, Advocate for Defendant No. 2  Ms. Rashi Savla i/by M/s. Wadia Ghandy & Co., Advocate for Defendant No. 5 ...................

CORAM : MILIND N. JADHAV, J.

DATE : DECEMBER 19, 2025 P. C.

:

1.

Heard Mr. Singh, learned Senior Advocate for Plaintiff; Mr. Mody, learned Advocate for Defendant Nos. 1, 3 & 4, Mr. Siroya, learned Advocate for Defendant No. 2 and Ms. Savla, learned Advocate for Defendant No. 5.

2.

Parties have reconciled their disputes and differences and filed Consent Terms. Consent Terms dated 19.12.2025 are taken on record and marked "X" for identification. They are signed by Plaintiff, Defendant Nos. 1, 3 and 4 and their respective Advocates. Consent

Terms are running into 9 pages. For the purpose of reference and convenience, they are scanned and reproduced below:-

3.

Further Defendant Nos. 3 and 4 have filed Undertaking dated 19.12.2025 which is taken on record. For the purpose of reference and convenience, said Undertaking is also scanned and reproduced below:-

4.

All rights and obligations mentioned in the Consent Terms and in the Undertaking qua the respective parties are taken as undertaking given to the Court and parties shall abide by the same. 5.

It is noted that Plaintiff has initiated Wilful Defaulter and Fraud related proceedings against the Defendants as per RBI guidelines. In view of the execution of the present Consent Terms, the wilful defaulter and fraud circular related proceedings shall not be proceeded further. However in case of default of the Consent Terms, the Plaintiff shall be entitled to take all actions (including wilful defaulter and fraud proceedings) in accordance with applicable law with leave of the Court. In the meanwhile it is clarified that no coercive steps shall be taken against the Defendants. 6.

Order in terms of the Consent Terms dated 19.12.2025. 7.

Suit is disposed of in terms of the Consent Terms. Decree be drawn up accordingly.

8.

In view of disposal of Suit, all pending Interim Applications in the Suit are accordingly disposed.

9.

Refund of Court Fees as per Rules.

Amberkar [ MILIND N. JADHAV, J. ] by RAVINDRA MOHAN AMBERKAR Date:

2025.12.19 20:55:36 +0530 RAVINDRA MOHAN AMBERKAR