Bombay High Court
Kunal Structure (India) Private ... vs Tata Capital Financial Services ... on 17 February, 2022
Author: G.S. Kulkarni
Bench: G.S. Kulkarni
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Prajakta Vartak
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
ARBITRATION APPLICATION (L.) NO. 31559 OF 2021
Kunal Structure (India) Pvt. Ltd. & Anr. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION APPLICATION (L.) NO. 31567 OF 2021
Kunal Structure (India) Pvt. Ltd. & Ors. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION APPLICATION (L.) NO. 31590 OF 2021
Kunal Structure (India) Pvt. Ltd. & Anr. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION APPLICATION (L.) NO. 31597 OF 2021
Kunal Structure (India) Pvt. Ltd. & Ors. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION APPLICATION (L.) NO. 31600 OF 2021
Kunal Structure (India) Pvt. Ltd. & Ors. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION PETITION NO. 6 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Ors. ..Respondents
WITH
ARBITRATION APPLICATION (L.) NO. 3626 OF 2022
2 903-arbapl 31559-21 grp
Kunal Structure (India) Pvt. Ltd. ..Applicant
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION PETITION NO. 10 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Ors. ..Respondents
AND
ARBITRATION PETITION NO. 11 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Ors. ..Respondents
WITH
ARBITRATION APPLICATION (L.) NO. 2364 OF 2022
Kunal Structure (India) Pvt. Ltd. & Ors. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
ARBITRATION PETITION NO. 12 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Anr. ..Respondents
WITH
ARBITRATION APPLICATION NO. 23 OF 2022
Kunal Structure (India) Pvt. Ltd. & Anr. ..Applicants
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
COMMERCIAL ARBITRATION PETITION NO. 13 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Ors. ..Respondents
3 903-arbapl 31559-21 grp
WITH
ARBITRATION APPLICATION (L.) NO. 3623 OF 2022
Kunal Structure (India) Pvt. Ltd. ..Applicant
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
COMMERCIAL ARBITRATION PETITION NO. 14 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Ors. ..Respondents
WITH
ARBITRATION APPLICATION (L.) NO. 3630 OF 2022
Kunal Structure (India) Pvt. Ltd. ..Applicant
Vs.
Tata Capital Financial Services Limited ..Respondent
AND
COMMERCIAL ARBITRATION PETITION NO. 21 OF 2022
Tata Capital Financial Services Limited ..Petitioner
Vs.
Kunal Structure (India) Pvt. Ltd. & Ors. ..Respondents
WITH
ARBITRATION APPLICATION (L.) NO. 3625 OF 2022
Kunal Structure (India) Pvt. Ltd. ..Applicant
Vs.
Tata Capital Financial Services Limited ..Respondent
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Mr. Vishwas Shah with Mr. Akshay Shah for Kunal Structure (India) Pvt.
Ltd. & Anr.
Mr. Vishwas Shah with Mr. Raj Adhia and Mr. Shyam Jadhav i/b. Ekta
Dalvi for Kunal Structure (India) Pvt. Ltd. & Ors.
Mr. Aseem Naphade with Mr. Nikhil Mehta i/b. KMC Legal Venture for
Petitioner/Respondent-Tata Capital Financial Services Limited in all
matters.
-----
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CORAM : G.S. KULKARNI, J.
DATE : FEBRUARY 17, 2022. P.C.:
1. After hearing learned counsel for the parties for some time, on this batch of the proceedings, which are Section 9 petitions filed by Tata Capital Financial Services Limited (the lender) as also the Section 11 proceedings filed by Kunal Structure (India) Pvt. Ltd. (the borrower), in my opinion, it would be appropriate that the parties exchange necessary information and make an attempt to resolve the disputes and come to an overall settlement. Let the first meeting between both the parties be convened on 19 February, 2022 at the time and venue the parties may mutually fix.
2. The entire information and the documents in relation to the pending accounts be brought by the parties in such meeting and all issues/disputes be discussed point-wise and an attempt be made to resolve the disputes.
3. Also let minutes of such meeting be drawn so as to point out the final conclusion and in the event of non-resolution to set out the points of differences. Depending on the outcome of the said meeting, these proceedings would be taken up and appropriate orders would be passed.
4. The parties have agreed that venue of the meeting would be the respondent's office at Ahmedabad. Mr. Shah, learned counsel for the respondent has readily agreed for the same.
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5. Mr. Shah has assured that the intention of his client is to regularize the accounts. If that be so, certainly the petitioner-lenders should not be averse to regularize the account, as it is informed that the term of the loan would come to an end sometime in 2023.
6. Parties are put to notice that if by the adjourned date of hearing an amicable resolution of disputes is not possible, the learned counsel for the parties shall accordingly inform the Court, so that the proceedings can be heard and appropriate orders passed.
7. Ad-interim reliefs granted earlier shall continue to operate till the adjourned date of hearing.
8. Stand over to 01 March, 2022.
9. Parties are at liberty to have a second settlement meeting, if so necessary.
[G.S. KULKARNI, J.]
Digitally signed
PRAJAKTA by PRAJAKTA
SAGAR VARTAK
SAGAR Date:
VARTAK 2022.02.17
19:12:05 +0530