Supreme Court - Daily Orders
Kirtikumar Futarmal Jain vs Valencia Corporation on 29 September, 2020
Bench: D.Y. Chandrachud, Indira Banerjee
SLP(C) 28/2020
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ITEM NO.24 Court 3 (Video Conferencing) SECTION III
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No.28/2020
(Arising out of impugned final judgment and order dated 13-09-2019
in SCA No. 15145/2019 passed by the High Court of Gujarat at
Ahmedabad)
KIRTIKUMAR FUTARMAL JAIN Petitioner(s)
VERSUS
VALENCIA CORPORATION & ORS. Respondent(s)
(With appln.(s) for interim relief and permission to file lengthy
list of dates)
WITH S.L.P.(C) No.9242/2020 (IX)
(With appln.(s) for interim relief, exemption from filing c/c of
the impugned judgment and permission to file lengthy list of dates)
Date : 29-09-2020 These matters were called on for hearing today.
CORAM :
HON'BLE DR. JUSTICE D.Y. CHANDRACHUD
HON'BLE MS. JUSTICE INDIRA BANERJEE
For Petitioner(s) Mr. Kavin Gulati, Sr. Adv.
Ms. S. Nandini Gore, Adv.
Mr. R. Avadhoot V. Sumant, Adv.
Ms. Natasha Sahrawat, Adv.
Ms. Tahira Karanjawala, Adv.
Mr. Arjun Sharma, Adv.
Mr. Jasvir Singh Sabharwal, Adv.
Mr. Ishan Bhatt, Adv.
M/s. Karanjawala & Co.
SLP 9242/2020 Mr. Dhruv Mehta, Sr. Adv.
Mr. Yashraj Singh Deora, AOR
Signature Not Verified Mr. Jayant Umesh Karn, Adv.
Digitally signed by
ARJUN BISHT Ms. Sonal Mashankar, Adv.
Date: 2020.10.01
18:48:39 IST
Reason:
SLP(C) 28/2020
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For Respondent(s) Mr. Dhaval C. Dave, Sr. Adv.
Mr. Nikhil Goel, AOR
Ms. Naveen Goel, Adv.
Mr. Dushyant Sarna, Adv.
Mr. Vinay Mathew, Adv.
SLP 9242/2020 Mr. Mukul Rohatgi, Sr. Adv.
Mr. Ninad Laud, Adv.
Mr. Parag Rao, Adv.
Mr. Sahil Tagotra, AOR
UPON hearing the counsel the Court made the following
O R D E R
IA No 88181/2020 in SLP(C) No 9242/2020 1 This application has been filed by the petitioner for modification of the order of this Court dated 1 September 2020.
2 While issuing notice on the Special Leave Petition, the Court continued the undertaking furnished by the respondent to the High Court not to part with the properties of the partnership firm and permitted the respondent to operate the bank accounts of the partnership firm in the ordinary course of business.
3 On 26 August 2020, the Senior Civil Judge at Goa dismissed the application filed under Section 9 of the Arbitration and Conciliation Act 1996 by the respondent, on the ground that the partnership firm stands dissolved pursuant to a notice of dissolution dated 5 June 2020 issued by the petitioner. The Senior Civil Judge has observed in paragraph 94 of the order that the parties are at liberty to arrive at an amicable decision in regard to the appointment of an independent Receiver for dealing with the affairs of the dissolved firm.
4 In modification of the earlier order dated 1 September 2020 we issue the following directions:
SLP(C) 28/2020 3
(i) The direction issued by the Court on 1 September 2020 permitting the respondent to operate the bank accounts of the partnership firm shall stand vacated;
(ii) Shri Justice R M S Khandeparkar, former Judge of the Bombay High Court is by consent of the parties, appointed as Receiver in respect of the assets and business of the firm, M/s Risara Properties for the purpose of dissolution; and
(iii) The above directions shall not affect the mediation proceedings which are being conducted by the learned Mediator.
5 The interlocutory application is accordingly disposed of.
6 List the Special Leave Petitions on 13 October 2020.
(CHETAN KUMAR) (SAROJ KUMARI GAUR)
AR-cum-PS BRANCH OFFICER