Tata Capital Financial Services Limited v. Kalpataru Impex And ORS.

18 & 19.CRR.180.2025 & 181.2025 copy.docx

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COURT RECEIVER REPORT NO.180 OF 2025 AND COURT RECEIVER REPORT NO.181 OF 2025 Tata Capital Financial Services Limited ....Petitioner

Versus

Kalpataru Vanijya Private Limited And Ors.

...Respondents

Appearance not received.

CORAM: SOMASEKHAR SUNDARESAN, J.

DATE : MAY 8, 2025 PC :

1.

These are matters where the Court Receiver took possession of the underlying property, which was the subject matter of the arbitration agreement between the parties on July 5, 2018. The property was also handed over to the Petitioner on September 11, 2018. 2.

Later, by a Deed of Assignment dated March 13, 2019, a portfolio of loan assets came to be transferred by the Petitioner Tata Captital Financial Services Limited to Kotak Mahindra Bank Limited. Such assignment was subsequent to the completion of the Court Receiver's activity to hanging over possession of the property. Thereafter, none has moved Court. Evidently, nothing truly survives for the Court Digitally signed by AARTI GAJANAN PALKAR Date:

2025.05.09 18:05:14 +0530 AARTI GAJANAN PALKAR Receiver to be kept hanging in this matter. The fees of the Court MAY 8, 2025 Aarti Palkar

18 & 19.CRR.180.2025 & 181.2025 copy.docx Receiver indeed have to be paid and the Court Receiver has to be discharged.

3.

Learned Advocates for Tata Capital Financial Services Limited shall serve a copy of this order on Kotak Mahindra Bank Limited and direct them to pay the amounts owed to the Court Receiver. Such payment shall be effected no later than May 30, 2025. Should there be any delay in such payment by Kotak Mahindra Bank, it shall be the responsibility of Tata Capital Financial Services Limited to pay the amounts due to the Court Receiver. Tata Capital Financial Services Ltd shall be fully entitled to recover the same from Kotak Mahindra Bank in terms of this very order. All amounts due and payable to the Court Receiver shall be paid as above.

4.

With the aforesaid directions, the Court Receiver in both the captioned proceedings stands discharged without passing accounts. The Court Receiver Report is accepted and disposed of in terms of prayer clauses (a), (b) and (c).

5.

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.] MAY 8, 2025 Aarti Palkar