Tata Capital Ltd v. Manoharlal Creation Pvt Ltd

05-IA-6920-2025.doc Arjun

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO.6920 OF 2025 IN EXECUTION APPLICATION (L) NO.1551 OF 2017 Digitally signed by ARJUN VITTHAL KUDHEKAR Date:

2025.11.12 22:37:30 +0530 ARJUN VITTHAL KUDHEKAR Tata Capital Limited ...Applicant (Formerly known as Tata Capital Financial Services Limited)

Versus

Manoharlal Creation Pvt. Ltd. & Ors.

...Respondents

_______________________________________________________________ Mr. Rajesh Kanojia a/w Prachi Pawar i/b Res Juris, for the Applicant. Mrs. S. S. Dakhande, Section Officer, Officer of the Court Receiver, present.

_______________________________________________________________ CORAM: MADHAV J. JAMDAR, J.

DATED: 12 NOVEMBER 2025 P.C.:

1.

Heard Mr. Kanojia, learned Counsel appearing for the Applicant i.e. Award Holder.

2.

Mr. Kanojia, learned Counsel, submits that by Order dated 30th November 2017, the Court Receiver has been appointed with respect to Flat No.3B, 3rd Floor, Rajkiran Apartment, Alipur Road, Kolkata, West Bengal. He states that, in the meanwhile Respondent No.5 - Tata Capital Housing Finance Limited i.e. sister concern of the present Applicant i.e. Tata Capital Limited initiated proceedings under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("SARFAESI Act"), for recovery of

05-IA-6920-2025.doc amounts in lieu of defaults committed in repayment of financial facilities extended by the present Respondent No.5 to Respondent Nos.1 to 4. He submits that by exercising power under Section 14(1A) of the SARFAESI Act, Sri Arjun Pal, WBCS(EXE) has been authorized to take possession of such assets and documents relating thereto and to forward such assets and documents to the secured creditor with police assistance, by Order dated 1st August 2025 passed by the District Magistrate, South 24 Parganas. He submits that therefore the Court Receiver appointed in respect of the said flat be discharged. 3.

Accordingly, for the reasons set out in the Interim Application and for above reasons, the Interim Application is allowed in terms of prayer clause (b).

4.

The Court Receiver stands discharged without passing accounts on payment of cost, charges and expenses of the Court Receiver by the Applicant.

5.

The Interim Application is disposed of in above terms. [MADHAV J. JAMDAR, J.]