Bombay High Court
Asian Natural Resources (India) Ltd. ... vs Vitol S. A. (Org. Res. /Awd. Holder) And ... on 7 December, 2018
Author: K.R.Shriram
Bench: K.R.Shriram
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY AND ORIGINAL CIVIL JURISDICTION
CHAMBER SUMMONS (L) NO.1544 OF 2018
IN
EXECUTION APPLICATION NO.240 OF 2011
State Bank of India ....Applicant/Intervenor
IN THE MATTER BETWEEN :
Asian Natural Resources (I) Ltd.
(Bhatia International Limited) ....Award Debtor
Vs.
Vitol S.A. ....Award Holder
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Mr. V. D'costa a/w. Mr. Aagam Doshi, Ms. Shweta Rankhambe and
Mr. Rohit Jolly I/b. Mr. Aagam J. Doshi for applicant.
Mr. Zal Andhyarujina a/w. Ms. Naira Jeejeebhoy, Mr. Aditya Krishnamurthy,
Ms. Damayanti Sen and Mr. Ruchir Goenka I/b. M/s. Bose and Mitra and
Company for Award Holder.
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CORAM : K.R.SHRIRAM, J.
DATE : 7th DECEMBER 2018 P.C.: 1 Both counsel state that without prejudice to the rights and
contentions of the parties, the coal, which is lying at Krishnapatnam Port, be inspected, valued and disposed and the sale proceeds be brought into this Court. For that, an agency is required to be appointed and Mr. D'costa, counsel for applicant states that applicant will fund the expenses for inspection, valuation and for sale but those expenses should be paid as first priority from the sale proceeds.
2 In my view, it is a fair suggestion because the more the coal lies exposed to vagaries of nature at Krishnapatnam Port, it will depreciate in value.
Gauri Gaekwad
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3 In the circumstances, Ericson and Richards Surveyors Private
Limited having their office at Old Kamani Chambers, 32 R. Kamani Road, Ballard Estate, Fort, Mumbai - 400 001 is appointed as agency to inspect and value the coal lying at Krishnapatnam Port being coal imported by Bhatia Coke and Energy Limited some time in January 2017 and discharged from m.v. Fulvia and submit a report by 15 th January 2019. The report has to be submitted in a sealed envelope to this Court and the details particularly, relating to the value should not be shared with any party. 4 Applicant to deposit a sum of Rs.5 lakhs with the Prothonotary and Senior Master, High Court, Bombay by 15 th December 2018. If the invoice of Ericson and Richards Surveyors Private Limited is less than Rs.5 lakhs, then the surplus to be refunded to applicant and if the invoice is more than Rs.5 lakhs, then applicant should pay the difference within 7 days of receiving a communication to that effect from the Prothonotary and Senior Master, High Court, Bombay. These amounts being expended by applicant shall be paid out from the sale proceeds as first charge. 5 The representatives of applicant as well as respondent and of Bhatia Coke and Energy Limited are permitted to remain present. Ericson and Richards Surveyors Private Limited to notify the dates to the parties when they proposed to visit. Ericson and Richards Surveyors Private Limited need not adjust to the schedule of any of the parties and even if the parties Gauri Gaekwad ::: Uploaded on - 12/12/2018 ::: Downloaded on - 29/12/2018 08:58:04 ::: 3/3 47.CHSL-1544-2018.doc are absent, they may go ahead and do what is required to be done. 6 Within two weeks from today all office objections to be removed and chamber summons to be numbered, failing which chamber summons will get dismissed without further reference to this Court. 7 Stand over to 18th January 2019 for directions.
(K.R. SHRIRAM, J.) Gauri Gaekwad ::: Uploaded on - 12/12/2018 ::: Downloaded on - 29/12/2018 08:58:04 :::