Tata Capital Financial Services Limited v. Hiren Ashok Suryavanashi

908-CRR-257-2024 IN ARBPL-32177-2022.DOC Shephali

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER'S REPORT NO. 257 OF 2024 IN ARBITRATION PETITION (L) NO. 32177 OF 2022 Tata Capital Financial Services Limited

...Petitioner

Versus

Hiren Ashok Suryavanshi

...Respondent

Mr Nikhil Mehta, i/b KMC Legal Venture, for the Petitioner. Mr NC Pawar, Officer on Special Duty, Court Receiver, present.

CORAM:

ARIF S. DOCTOR, J SHEPHALI SANJAY MORMARE DATED:

23rd October 2024 PC:- by SHEPHALI SANJAY MORMARE Date: 2024.10.25 10:50:52 +0530 1.

By an order dated 30th August 2024, this Court had accepted the bid of an amount of Rs. 13,50,000/- submitted by Mr Shivamani Subramanian and directed that the said amount be deposited with the Court Receiver on or before 6th September 2024. 2.

I am informed that the bidder was unable to make the deposit within time and has thus sought an extension of time to make the said payment. I am inclined to allow the same since I have observed that the earlier attempt to sell the car did not fructifies. Hence, it is for this reason time is extended.

908-CRR-257-2024 IN ARBPL-32177-2022.DOC 3.

It is made clear that if the amount of Rs. 13,50,000/- is not deposited by 5.00 pm 25th October 2024, the same shall not be accepted and the bid will be cancelled.

(ARIF S. DOCTOR, J)