Idbi Trusteeship Services Limited v. Ojas Tradelease And Mall Management Private Limited And ANR

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER'S REPORT NO.133 OF 2025 IN INTERIM APPLICATION (L) NO.18696 OF 2022 Digitally signed by JITENDRA SHANKAR NIJASURE Date:

2025.08.07 18:15:09 +0530 JITENDRA SHANKAR NIJASURE IN COMM SUIT NO.207 OF 2022 IDBI Trusteeship Services Ltd.

...Applicant / Ori. Plaintiff

Versus

Ojas Tradelease and Mall Management Pvt.

Ltd. & Ors.

...Defendants ---------- Mr. Himalaya Chaudhari i/b. Manilal Kher Ambalal & Co. for the Plaintiff.

Ms. Gayatri Mohite, Dhrupad V. and Ashwath Reddy for Defendant No.1 Thru Resolution Professional Aegis Resolution Services Pvt. Ltd. Mr. N.C. Pawar, Court Receiver is present with Ms. Sampada Dukhande, SO present.

---------- CORAM : R.I. CHAGLA J.

DATE : 6TH AUGUST, 2025.

ORDER :

1.

By this Court Receiver's Report, the Court Receiver has sought a discharge in the above Suit without passing of accounts and the Original Plaintiff be directed to pay costs, charges and expenses of the Court Receiver. Further, direction is sought directing the Interim Resolution Professional appointed for the Defendant 1/3

Company to take follow up and necessary action in respect of interlocutory application and claim form submitted by the Court Receiver in respect of claim against FRL and FLFL before the NCLT. Further, direction is sought with regard to payment of rent received from the Praxis Home Retail Ltd. in respect of the Suit property which is invested in fixed deposits along with accrued interest after deducting costs, charges and expenses of the Court Receiver. The Court Receiver has sought direction to whom the physical possession of the portion of the property (previously occupied by FRL and FLFL) be handed over.

2.

The learned Counsel appearing for the parties have agreed that in view of the Resolution Professional having been appointed for the Defendant and property belonging to the Defendant, the Court Receiver shall upon being discharged handover the ground plus upper first floor of the Suit property to the Resolution Professional.

3.

Accordingly, the Court Receiver is directed to handover physical possession of the ground plus first upper floor (including movables) of the Suit property to the Resolution Professional appointed for the Defendant. The rent received along with 2/3

accumulated interest from the Praxis Home Retail Ltd. which is invested in fixed deposits upon breaking of fixed deposit encash of the sum be handed over to the Resolution Professional of the Defendant after deducting the costs, charges and expenses of the Court Receiver. Upon carrying out of this exercise the Court Receiver is discharged without passing of accounts upon the costs, charges and expenses of the Court Receiver being borne by the Original Plaintiff. 4.

In view of the Court Receiver having been discharged, the symbolic possession of the Court Receiver on the portion occupied by M/s. Praxis Home Retail Ltd. shall come to an end and the costs of this report viz. Rs.5,000/- is awarded and the same shall be adjusted from the fund available in the Suit account. 5.

Further, the direction sought for in prayer Clause (b) is issued to the effect that the Court Receiver shall handover the claim in the NCLT to the Resolution Professional to be pursued against FRL and FLFL before the NCLT.

6.

The Court Receiver's Report No.133 of 2025 is accordingly disposed of.

[ R.I. CHAGLA J. ] 3/3