Grasim Industris Limited vs Visa Resouces Pte Limited on 26 December, 2018

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Gujarat High Court

Grasim Industris Limited vs Visa Resouces Pte Limited on 26 December, 2018

Bench: R.M.Chhaya

          C/IAAP/120/2018                                          ORDER



           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

      R/PETN. UNDER ARBITRATION ACT NO. 120 of 2018
                           With
       R/PETN. UNDER ARBITRATION ACT NO. 125 of 2018
==========================================================
                       VISA RESOURCES PTE LIMITED
                                 Versus
                     METAL COMMODITIES PTE LIMITED
==========================================================
Appearance:
DARSHAN M VARANDANI(7357) for the PETITIONER(s) No. 1
MR HARDIK P MODH(5344) for the RESPONDENT(s) No. 1
MR KUNAN B NAIK(3210) for the RESPONDENT(s) No. 4
NOTICE SERVED BY DS(5) for the RESPONDENT(s) No. 3
SINGHI AND CO(2725) for the RESPONDENT(s) No. 2
==========================================================

 CORAM: HONOURABLE MR.JUSTICE R.M.CHHAYA

                              Date : 26/12/2018

                                    ORAL ORDER

1.Heard Mr. Kamal B. Trivedi, learned senior advocate assisted by Mr. Kunal Nayak, learned advocate with Mr. Vivan Shah, learned advocate with Mr. Utsav Parikh, learned advocate for Adani Petronet (Dahej) Port Pvt. Ltd., Mr. Darshan Varandani, learned advocate with Ms. Amrita M. Thakore, learned advocate for Visa Resources Pvt. Ltd., Mr. Shamik Bhatt, learned advocate for Singhi & Company for Grasim Industries Ltd. and Mr. Hardik Modh for Metal Commodities Ltd. and Mr. Anmol Surollia, learned advocate for Mr. Sushil Sharma of Shree Kavach Corporation.

2. By an order dated 11.12.2018, this Court accepted the offer given by bidder Shree Kavach Page 1 of 3 Downloaded on : Wed Sep 29 01:48:26 IST 2021 C/IAAP/120/2018 ORDER Corporation through its sole proprietor Mr. Sushil Sharma and in the said order, it is provided that an amount of Rs.1,43,00,000/ shall be deposited with this Court on or before 15.12.2018. It is a matter of record that the said period was extended till 21.12.2018 vide order dated 19.12.2018 passed in Civil Application No. 1 of 2018 in IAAP No. 120/18.

3. It is pointed out at the bar by the learned counsels appearing for different parties that because of nonworking of the bank, the deposit could not be made. Today, Mr. Surollia has further requested to extend the time to make deposit of Rs.1,43,00,000/ by four different demand drafts drawn in favour of the Registrar, High Court of Gujarat, details of which are as under Sr. Bank of Dated Amount No. BarodaDemand (Rs.) Draft No.

1. 744147 24.12.2018 54,00,000/

2. 744148 24.12.2018 54,00,000/

3. 744149 24.12.2018 17,50,000/

4. 507768 24.12.2018 17,50,000/

4. As Mr. A.S. Raghupathy is on leave, as per the oral direction, Mr. J.G. Vithlani, Deputy Registrar was deputed as pro tem Commissioner. The drafts so submitted by Mr. Surollia be accepted by the Registry. The drafts shall be deposited tomorrow, i.e., on 27.12.2018.

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5. The Registry is thereafter further directed to disburse an amount of Rs.1,48,00,000/ (Rupees One Crore Fourty Eight Lakhs) (Rs.1,43,00,000/ + Rs.5,00,000/ deposited earlier) in favour of Adani Petronet (Dahej) Port Pvt. Ltd. Such cheque be handed over to Mr. Kunal Nayak and/or Mr. Vivan Shah and/or Mr. Utsav Parikh on behalf of Adani Petronet (Dahej) Port Pvt. Ltd. The said disbursement is in pursuance to the order dated 11.12.2018. Such disbursements would be subject to further orders of this Court.

S.O. to 16.01.2019 (R.M.CHHAYA, J) BIJOY B. PILLAI Page 3 of 3 Downloaded on : Wed Sep 29 01:48:26 IST 2021

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