Gujarat High Court
Yes Bank Limited vs Nand Aparna (Imo No. 9082087) on 21 May, 2021
Author: Nirzar S. Desai
Bench: Nirzar S. Desai
C/AS/16/2021 ORDER DATED: 21/05/2021
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/ADMIRALTY SUIT NO. 16 of 2021
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YES BANK LIMITED
Versus
NAND APARNA (IMO NO. 9082087)
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Appearance:
for the Defendant(s) No. 1
SHASHVATA U SHUKLA(8069) for the Plaintiff(s) No. 1
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CORAM: HONOURABLE MR. JUSTICE NIRZAR S. DESAI
Date : 21/05/2021
ORAL ORDER
1. Learned Counsel Mr. Prathamesh Kamat mentioned this matter on 18.5.2021 for urgent circulation. Permission for urgent circulation of the matter was granted for today. Accordingly, the suit is taken up for hearing for urgent interim orders.
2. The Ld. Counsel for the Plaintiff submitted that in February 2018, the Plaintiff had sanctioned two Term Loans aggregating to Rs. 160 crores to one Simcement Private Limited for inter alia purchase of 8 Minibulk carriers, including the Defendant vessel. Simcement Private Limited continues to be the registered owner of the Defendant vessel from July 2018. As security to the aforesaid Term Loans sanctioned by the Plaintiff to Simcement Private Limited, the Defendant vessel was mortgaged in favour of the Plaintiff. To that effect, a mortgage certificate dated 12.7.2018 was issued by the Mercantile Marine Department and a letter dated 13.8.2018 was issued by the Mercantile Marine Department, noting the said mortgage. The said Simcement Private Limited defaulted Page 1 of 4 Downloaded on : Fri May 21 21:20:00 IST 2021 C/AS/16/2021 ORDER DATED: 21/05/2021 on the loan disbursed to them and hence the Plaintiff was constrained to declare the account as NPA and also recalled the loan in December 2018. Subsequently, despite repeated reminders, Simcement Private Limted failed to pay the outstanding sums. The outstanding principal sum as in March 2020, stood at Rs. 1,28,03,91,606.70. The Plaintiff, therefore, has a maritime claim under Section 4(1)(c) of the Admiralty (Jurisdiction and Settlement of Maritime Claims)Act 2017, against the Defendant vessel in the form of a registered mortgage on the said vessel, which the Plaintiff is entitled to enforce on account of the failure of her registered owner, i.e. Simcement Private Limited to pay its outstanding dues to the Plaintiff. Considering that the value of the Defendant vessel is around Rs. 5 crore, the Plaintiff has restricted its claim in the present suit to the said value, along with interest and legal costs, as more particularly set out in the Particulars of Claim.
3. Upon hearing Mr. Prathamesh Kamat, Learned Counsel along with Mr. Shashvata Shukla, Ld. Advocate for the Plaintiff and upon reading the Plaint herein declared at Mumbai on 18.5.2021, filed by the Advocate for the Plaintiff herein and the affidavit of Mr. Parthiv Trivedi, Constituted Attorney 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, NAND APARNA (IMO No. 9082087) along with her hull, engines, Page 2 of 4 Downloaded on : Fri May 21 21:20:00 IST 2021 C/AS/16/2021 ORDER DATED: 21/05/2021 gears, tackles, bunkers, machinery, apparel, plant, furnitures, equipments and all appurtenances, at present lying at the Port of Hazira 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 Hazira do effect the arrest, seizure or detention of the defendant Vessel NAND APARNA (IMO No. 9082087) at the Port of Hazira 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. 5,00,00,000/ together Legal costs & Expenses of Rs. 15,00,000/ aggregating to total amount of Rs. 5,15,00,000/ along with interest at the rate of 12.75 % p.a. from the date the sum became due, i.e. 30.10.2018 until payment/realisation as per Particulars of Claim, the said Warrant of Arrest shall not be executed against the defendant Vessel NAND APARNA (IMO No. 9082087).
4. The Port Officer and the Customs Authorities at Hazira are directed to arrest the vessel NAND APARNA (IMO No. 9082087) at present lying at Hazira 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 Hazira shall render all assistance to the plaintiff or its representative in effecting the warrant of arrest on the Defendant vessel.
5. It is open for the Plaintiff's Advocate to communicate the Page 3 of 4 Downloaded on : Fri May 21 21:20:00 IST 2021 C/AS/16/2021 ORDER DATED: 21/05/2021 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.
6. The undertaking filed by Mr. Parthiv Trivedi, Constituted Attorney of the Plaintiff is taken on record.
7. Office is directed to serve the warrant of arrest on the Master of the Vessel NAND APARNA (IMO No. 9082087) or through the agent of the vessel and send copy thereof to Port and Customs Authorities at Hazira. Office is also granted liberty to serve the warrant by email.
Direct service is permitted today.
(NIRZAR S. DESAI,J) RAVI P. PATEL Page 4 of 4 Downloaded on : Fri May 21 21:20:00 IST 2021