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Gujarat High Court

Raigad District Central Co-Op Bank Ltd vs M.T Saint Regis(Ex-Name Dolphin Pride ... on 3 August, 2018

Author: R.M.Chhaya

Bench: R.M.Chhaya

           C/AS/30/2018                                         ORDER



     IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

              R/ADMIRALITY SUIT NO.                  30 of 2018

===================================================
       RAIGAD DISTRICT CENTRAL CO­OP BANK LTD
                       Versus
   M.T SAINT REGIS(EX­NAME DOLPHIN PRIDE (IMO NO
                      9495272)
===================================================
Appearance:
MR. PRATHAMESH KAMAT, Advocate with MR SHIVKUMAR
IYER with MS ADITI MAHESHWARI with MS PAURAMI B
SHETH, ADVOCATE for the Plaintiff(s) No. 1
for the RESPONDENT(s) No. 1
===================================================
CORAM: HONOURABLE MR.JUSTICE R.M.CHHAYA

                            Date : 03/08/2018

                                ORAL ORDER

1. Learned Advocate Ms. Paurami B. Sheth mentioned this matter today for urgent circulation. The permission is granted for urgent circulation and suit is taken up for hearing for urgent interim orders.

2. The Ld. counsel for the Plaintiff seeks permission to place on record further documents. The plaintiff shall file the documents with the Registry within two weeks from today.

3. The learned counsel for the plaintiff submitted that the Plaintiff has sanctioned loan of a sum of Term Loan of Rs.11,75,00,000/­ to Modest and Parson International Pvt. Ltd., that Modest & Page 1 of 5 C/AS/30/2018 ORDER Parson, inter­alia, pledged the Defendant vessel to the Plaintiff vide Hypothecation Deed dated 30th December 2015 who are the registered owners of the Defendant Vessel, that said Modest and Parson International Pvt. Ltd. has defaulted on the loan disbursed to them and hence the Plaintiff was constrained to declare the account as NPA and also recalled the loan, that it has failed to pay thereafter also despite repeated reminders and hence the Plaintiff was constrained to initiate measures against Modest & Parson under the provisions of the Maharashtra Co­operative Societies Act 1960 read with the Maharashtra Co­ operative Societies Rules, that pursuant to the above proceedings, the Deputy Registrar, Co­op. Societies, Alibaug, Raigad passed order dated 14.03.2017 under Section 101 of the Maharashtra Co­ operative Societies Act 1960 whereby the Plaintiff's mortgage / hypothecation was acknowledged, thus the Plaintiff has secured creditor of Modest & Parson i.e. the owner of the Defendant vessel and has a priority mortgage / hypothecation with one Karnala Nagari Sahakari Bank Ltd. over the same, thus the Plaintiff has maritime claim / maritime lien arising on account of the registered Mortgage created on the Defendant Vessel for loan disbursed to registered Owner, Modest and Parson International Pvt. Ltd. and the present suit is filed for outstanding amount with interest and costs as per particulars of claim from the Defendant Vessel and her owner.

4. Upon hearing Mr. Prathamesh Kamat, learned Counsel for the Plaintiff and upon reading the plaint herein declared at Ahmedabad on 03.08.2018 filed by the advocate for the Plaintiff herein and the affidavit of Mr. Bharat Ramchandra Nandgaonkar, Authorized Person of the Plaintiff above named upon the Plaintiff giving an undertaking in writing to the Registrar of this Court to pay such sums by way of damages as this Court may award as compensation in the event of the defendants sustaining prejudice by this order, I do order that the Registrar of this Court do issue a warrant for the arrest of the defendant vessel, M. T. Saint Regis (Ex Dolphin Pride) (IMO No 9495272) along with her hull, engines, gears, tackles, bunkers, machinery, apparel, plant, furnitures, equipments and all appurtenances, at present lying at the Port at Deendayal and that the Warrant of Arrest be executed at any time of the day or night or on Sundays or holidays and I do further order that the Port Officer and the Customs Authorities at Deendayal do effect the arrest, seizure or detention of the defendant Vessel M. T. Saint Regis at Deendayal Port or such other place wherever she may be within the territorial waters of India and I do further order that in the event of the defendant and/ or those interested in her depositing in this Court the principal amount of Rs. 12,29,66,071/­ together with interest for delayed payment for a sum of Rs. 56,80,361/­ and Legal costs & Expenses Page 3 of 5 C/AS/30/2018 ORDER aggregating to total amount of Rs.13,56,46,432/­ with further interest on Rs. 12,86,46,432/­ at the rate of 13 % p.a. from the date of suit until payment/realisation as per Particulars of Claim, the said Warrant of Arrest shall not be executed against the defendant Vessel M. T. Saint Regis.

5. The Port Officer and the Customs Authorities at Deendayal are directed to arrest the vessel M. T. Saint Regis at present lying at Deendayal Port within the territorial waters of India and to keep the vessel under arrest until further orders of this Court. It is further ordered that the Port Officer and the Customs Officer at Deendayal shall render all assistance to the Plaintiff or its representative in effecting the warrant of arrest on the Defendant vessel.

6. It is open for the Plaintiff's advocate to communicate the above order by fax message/Email at their own cost and the authorities are directed to act on fax/Email message with an ordinary copy of this order.

7. The undertaking filed by Mr. Bharat Ramchandra Nandgaonkar, Authorised Person of the Plaintiff is taken on record.

8. Notice to the Defendant returnable on 10.08.2018. It is made clear that it will be open for the defendant to approach this Court even prior Page 4 of 5 C/AS/30/2018 ORDER to the returnable date with adequate notice to the plaintiff.

9. Office is directed to serve the warrant of arrest on the Master of the Vessel M. T. Saint Regis or through the agent of the vessel and send copy thereof to Port and Customs Authorities at Deendayal.

Direct service is permitted today.

(R.M.CHHAYA, J) MAULIK R. PANDYA Page 5 of 5