Iifl Finance Limited v. Asset Care And Reconstruction Enterprise Limited

1 4-IA-843-2025.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO. 843 OF 2025 IN COMMERCIAL SUIT NO. 10 OF 2025 IIFL Finance Limited ...Applicant In the matter between:

IIFL Finance Limited ...Plaintiff

Versus

Asset Care & Reconstruction Enterprise Ltd & Ors. ...Defendants ----- Mr. Aditya Tolani i/b Wadia Ghandy & Co. for the Plaintiff. Mr. Rahul Dev, Risha Alva i/b Argus Partners for Defendant No. 1. ----- CORAM :

ARIF S. DOCTOR, J.

(VACATION COURT) th MAY, 2025 DATE :

P.C. :

1.

The captioned Interim Applicaiton was placed on board today for speaking to the minutes of the order dated 9 th May, 2025.

2.

Learned Counsel for the Plaintiff points out that though it was directed by the Court that the independent observer shall submit an affidavit that there is no conflict of interest in him acting as the Ajit

2 4-IA-843-2025.doc independent observer between the Plaintiff and the Defendant No. 1, the same remained to be mentioned in the order dated 9 th May, 2025.

3.

Hence, after paragraph 30 F (vii), following paragraph to be added:

"viii. The Independent Observer shall give an undertaking to the Plaintiff and the Defendant No. 1 that there is no conflict of interest in him acting as the Independent Observer between the Plaintiff and the Defendant No. 1." 4.

Hence, the said order be corrected accordingly. (ARIF S. DOCTOR, J.) Ajit