Bombay High Court
Twencity Sunlife Pvt. Ltd vs Ofb Tech Private Limited on 17 April, 2023
Author: R.I. Chagla
Bench: R.I. Chagla
2023:BHC-OS:3093
29-ial-9065-2023.doc
jsn
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L) NO.9065 OF 2023
IN
COMS SUIT (L) NO.9061 OF 2023
Twincity Sunlife Pvt. Ltd. ...Applicant /
Plaintiff
Versus
OFB Tech Pvt. Ltd. & Anr. ...Defendants
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Mr Karl Tamboly, Ryan D'Souza and Divya Tyagi /b. Jayakar and
Partners for the Applicant / Plaintiff.
Mr. Vishal Hegde for Defendant No.1.
Mayur Bhojwani with Reehan Ajmerwalla, Karan Parmar i/b. Manilal
Kher Ambalal & Co. for the Defendant No.2.
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CORAM : R.I. CHAGLA J
DATE : 17 APRIL 2023
ORDER :
1. The matter has been placed under the caption for compliance. This is as per the order dated 31st March, 2023. Statement of Counsel for the Applicant / Plaintiff on instructions that the amount of Rs.82,95,527.83 as demanded by the Defendant No.1 1/4 ::: Uploaded on - 19/04/2023 ::: Downloaded on - 20/04/2023 06:17:58 ::: 29-ial-9065-2023.doc and for which bank guarantee has been invoked will be paid to the Defendant No.1 on or before 15th April, 2023 was accepted as an undertaking to this Court. Further, the statement of Defendant No.2 - Bank not to encash bank guarantees till 18th April, 2023 was accepted.
2. Thereafter, there had been encashment of the bank guarantees which has been recorded in the order dated 5th April, 2023 and statement made by Dr. Saraf, Advocate General appearing for Defendant No.2 - Bank that Defendant No.2 - Bank will revive the subject bank guarantees which will be extended till 24th April, 2023 upon the monies being received from Defendant No.1 by 6th April, 2023. Further, Dr. Saraf on instructions from Defendant No.2 Bank stated that Defendant No.2 - Bank will not inform Credit Bureaus of the encashment of the subject guarantees and shall not charge interest. These statements are accepted as undertakings to this Court.
3. The learned Counsel for the Defendant No.2 states that above statements had been complied with by Defendant No.2 - Bank. 2/4 ::: Uploaded on - 19/04/2023 ::: Downloaded on - 20/04/2023 06:17:58 :::
29-ial-9065-2023.doc
4. Further, Defendant No.1 has returned the monies received from Defendant No.2 - Bank in respect of encashment of the subject bank guarantees.
5. Mr. Karl Tamboly for the Applicant / Plaintiff has tendered the payment summary which shows that Rs.82,95,527.83 has been paid in two tranche by RTGS on 14th April, 2023. Further, copies of the challan receipt of Income Tax for TDS in respect of the said amount and Debit advise of ICICI bank have been tendered. These documents are taken on record and marked 'X' collectively for identification.
6. Accordingly, the statement made on instructions recorded in the order dated 31st March, 2023 have been complied with by making payment of Rs.82,95,527.83. In view of the payment made by the Applicant / Plaintiff as demanded by Defendant No.1, bank guarantees shall stand discharged on their due dates. There will be no revival of the bank guarantees and / or encashment of the subject Bank Guarantees.
7. Although the learned Counsel for Defendant No.1 has 3/4 ::: Uploaded on - 19/04/2023 ::: Downloaded on - 20/04/2023 06:17:58 ::: 29-ial-9065-2023.doc submitted that rights and contentions of Defendant No.1 be kept open, it is not necessary to keep open the rights and contentions of Defendant No.1 and in the event the Defendant No.1 is at all aggrieved, they may resort to their own proceedings.
8. The Commercial Suit is accordingly disposed of. The Interim Application (L) No.9065 of 2023 does not survive and is disposed of.
9. Court fees are to be refunded in accordance with the Rules. For the purposes of Section 43 of the Maharashtra Court Fees Act and the proviso to that Section, today's date is the date of making a claim for repayment. The Prothonotary & Senior Master will issue a certificate for a refund of Court Fees computed according to the Rules. He will act on production of an authenticated copy of this order without requiring a separate application.
[R.I. CHAGLA J.] 4/4 ::: Uploaded on - 19/04/2023 ::: Downloaded on - 20/04/2023 06:17:58 :::