Canara Bank Mumbai v. The Special Director, Enforcement, Ministry Of Finance, Department Of Revenue Mumbai
2025:BHC-AS:28282-DB Sayyed 904-IA.1751.2025.docx IN IN THE THE HIGH HIGH COURT COURT OF OF JUDICATURE JUDICATURE AT AT BOMBAY BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPELLATE JURISDICTION INTERIM APPLICATION NO.1751 OF 2025 INTERIM APPLICATION NO.1751 OF 2025 IN IN FEMA APPEAL NO.35 OF 2025 FEMA APPEAL NO.35 OF 2025 Canara Bank, Mumbai Canara Bank, Mumbai ...
...Applicant/Appellant Applicant/Appellant
Versus
Versus
The Special Director, Enforcement, The Special Director, Enforcement, Ministry of Finance, Department of Ministry of Finance, Department of Revenue, Mumbai Revenue, Mumbai ...
...Respondent
Respondent _____________________________________________________ Mr. Raghav Gupta a/w Ms. Treesa Benny & Ms. Rashi Savla i/b. Wadia Mr. Raghav Gupta a/w Ms. Treesa Benny & Ms. Rashi Savla i/b. Wadia Ghandy & Co. for the Applicant/Appellant.
Ghandy & Co. for the Applicant/Appellant.
_____________________________________________________ CORAM :
M. S. Sonak & Jitendra Jain, JJ.
DATED : 10 July 2025 PC.:- 1.
Heard Mr.
Heard Mr. Gupta Gupta for the Applicant.
for the Applicant.
1.
The relief in this application is entirely covered by our order The relief in this application is entirely covered by our order dated 9 July 2025 disposing of virtually identical application for interim dated 9 July 2025 disposing of virtually identical application for interim relief made relief made inter alia inter alia by the Industrial Development Bank of India by the Industrial Development Bank of India (IDBI) Limited i.e. Interim Application No.7511 of 2025 and connected (IDBI) Limited i.e. Interim Application No.7511 of 2025 and connected matters.
matters.
2.
Therefore, by following the reasoning in the order dated 9 Therefore, by following the reasoning in the order dated 9 July 2025, we direct that the Respondent shall not take any coercive July 2025, we direct that the Respondent shall not take any coercive steps to enforce the impugned order provided the Applicant deposits or steps to enforce the impugned order provided the Applicant deposits or furnishes a bank guarantee equivalent to the penalty amount demanded furnishes a bank guarantee equivalent to the penalty amount demanded in the impugned order within four weeks from the date of uploading of in the impugned order within four weeks from the date of uploading of this order.
this order.
Sayyed 904-IA.1751.2025.docx 3.
If no deposit or bank guarantee is furnished within four weeks If no deposit or bank guarantee is furnished within four weeks and further, if no intimation is given to this effect to the learned counsel and further, if no intimation is given to this effect to the learned counsel for the Respondent, this interim order shall be deemed to be vacated for the Respondent, this interim order shall be deemed to be vacated without further reference to this Court and Respondent shall then be without further reference to this Court and Respondent shall then be free to recover the penalty amount.
free to recover the penalty amount.
4.
The Interim Application is disposed of in the above terms. No The Interim Application is disposed of in the above terms. No costs.
costs.
(Jitendra Jain, J.) (M. S. Sonak, J.) Signed by: Sayyed Saeed Ali Designation: PA To Honourable Judge Date: 11/07/2025 11:23:53