Tata Motors Finance Limited v. Akb Logistics

81-CARBP-410-2024 copy.docx PURTI PRASAD PARAB

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION PURTI PRASAD PARAB Date: 2025.02.11 15:22:16 +0530 COMM. ARBITRATION PETITION NO. 410 OF 2024 Tata Motors Finance Limited

...Petitioner

Versus

AKB Logistics & Anr.

...Respondents

Mr. Anosh Sequiera a/w Ms. Iraa Dube Patil i/b Jay & Co., for the Petitioner.

Ms. Deepti Soneta, authorized representative of Petitioner present. Mr.Patnama Appala Vankata Ramana - Respondent in person present.

Ms. Nandini Y. Deshpande, Ist Assistant to Court Receiver High Court, Bombay present.

CORAM

: SOMASEKHAR SUNDARESAN, J.

DATE : FEBRUARY 5, 2025 PC :

1.

Mentioned and taken up, out of turn before rising, in view of the parties having executed Consent Terms.

2.

Learned Counsel for the Petitioner tenders copy of the executed Consent Terms dated January 5, 2025, by which all disputes and differences between the parties stand settled.

3.

Consequently, this Petition may be disposed of by taking the Consent Terms on record. Undertakings contained in the Consent Terms shall constitute undertakings given to the Court. 4.

Learned Counsel for the Petitioner submits that the defaults February 5, 2025

81-CARBP-410-2024 copy.docx under the various loan agreements have all been regularized and now the loan accounts are a performing asset and they would continue in their original contracted terms. In these circumstances, the Learned Court Receiver is discharged, with the security property in the possession of the Court Receiver being released to the Respondent. The Learned Court Receiver has submitted that the keys are being handed over to the Respondent in Court. The Court Receiver is hereby discharged in terms of paragraph no. 9(b), (c) and (d) as set out in the Court Receiver's Report dated February 5, 2025.

5.

This Petition stands finally disposed of in the aforesaid terms. 6.

All actions required to be taken pursuant to this order shall be taken upon receipt of a downloaded copy as available on this Court's website.

[SOMASEKHAR SUNDARESAN, J.] February 5, 2025 Purti Parab