Bombay High Court
Dhwaja Shares And Securities Pvt. Ltd vs Krishnadevi G Khatod (Resp) And ... on 15 October, 2019
Author: R.D. Dhanuka
Bench: R.D. Dhanuka
905-nmsl2223-19c.doc
vai
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
NOTICE OF MOTION (LODGING) NO.2223 OF 2019
IN
ARBITRATION PETITION (LODGING) NO.1096 OF 2019
Dhwaja Shares & Securities Pvt. Ltd. ...Applicant
IN THE MATTER BETWEEN :
Dhwaja Shares & Securities Pvt. Ltd. ...Petitioner
V/s.
Krishnadevi Khatod & Anr. ...Respondents
WITH
NOTICE OF MOTION (LODGING) NO.2224 OF 2019
IN
ARBITRATION PETITION (LODGING) NO.1097 OF 2019
Dhwaja Shares & Securities Pvt. Ltd. ...Applicant
IN THE MATTER BETWEEN :
Dhwaja Shares & Securities Pvt. Ltd. ...Petitioner
V/s.
Dropadidevi Khatod & Anr. ...Respondents
Mr.Kunal Katariya with Ms.Sourabhi Waknis i/b M/s.Aagam Doshi &
Co. for the Applicant / Petitioner in both the Notices of Motion.
Mr.Vishal Pattabiraman i/b M/s.Purohit & Co. for the Respondents in
both the Notices of Motion.
CORAM : R.D. DHANUKA, J.
DATE : 15TH OCTOBER, 2019.
P.C. :-
1. Learned counsel appearing for the applicant in both the 1/3 ::: Uploaded on - 17/10/2019 ::: Downloaded on - 17/10/2019 20:47:18 ::: 905-nmsl2223-19c.doc arbitration petitions invited my attention to an email dated 11 th October, 2019 from the Arbitration Department of the National Stock Exchange of India informing the applicant that in respect of three awards which are subject matter of these two arbitration petitions in which Krishnadevi Khatod and Dropadidevi Khatod are the respondents, have been blocked. The apprehension of the applicant is that if these amounts are withdrawn from the accounts of the applicant and are paid to the respondents, great hardship would be caused to the applicant. Statement is accepted.
2. The National Stock Exchange of India Limited is directed to transmit both these amounts i.e. Rs.13,52,933/- and Rs.26,14,537/- to this Court within one week from the date of communication of this order in the name of the learned Prothonotary & Senior Master of this Court. It is made clear that those amounts shall not be parted with in favour of the respondents but shall be deposited with the learned Prothonotary & Senior Master of this Court. Further orders will be passed after hearing both the parties.
3. Upon such deposit being made by the National Stock Exchange of India Limited with the office of the Prothonotary & Senior Master of this Court, learned Prothonotary & Senior Master shall invest the said amount in the fixed deposit of a nationalized bank initially for a period of six months subject to further orders as may be passed by this Court.2/3 ::: Uploaded on - 17/10/2019 ::: Downloaded on - 17/10/2019 20:47:18 :::
905-nmsl2223-19c.doc
4. The respondents in both the arbitration petitions are permitted to file affidavit in reply within three weeks from today with a copy to be served upon the petitioner's advocate simultaneously.
Rejoinder, if any, shall be filed within two weeks thereafter with a copy to be served upon the respondents' advocate simultaneously.
5. Place both the arbitration petitions on board for admission on 28th November, 2019.
6. The applicant is directed to convey this order to the National Stock Exchange of India Limited for compliance.
7. All the parties as well as the National Stock Exchange of India Limited to act on the authenticated copy of this order.
(R.D. DHANUKA, J.) 3/3 ::: Uploaded on - 17/10/2019 ::: Downloaded on - 17/10/2019 20:47:18 :::