Calcutta High Court
M/S. Citicorp Finance (India) Limited vs Ravi Udyog Private Limited And Anr on 15 July, 2024
ORDER SHEET
OD-23
IN THE HIGH COURT AT CALCUTTA
ORDINARY ORIGINAL CIVIL JURISDICTION
IA No. GA/2/2024
In
EC/4/2009
M/S. CITICORP FINANCE (INDIA) LIMITED
VERSUS
RAVI UDYOG PRIVATE LIMITED AND ANR.
BEFORE:
The Hon'ble JUSTICE BIVAS PATTANAYAK
Date: 15th July, 2024.
Appearance:
Ms. Ankita Singh, Adv.
For the decree-holder.
Ms. Nilanjana Adhya, Adv.
Mr. Arindam Paul, Adv.
Ms. Debarati Das, Adv.
For the judgment debtor nos.1 & 2.
Mr. Aditya Chakraborty, Adv.
For the Receiver.
The Court:- This is an application for seeking direction upon the learned Receiver to release the shares lying in the Demat Account No. 302269- 13078619 with India Infoline Limited.
In compliance to the order dated 6th May, 2024, the learned Receiver files his report which is taken on record.
Ms. Nilanjana Adhya, learned advocate for the judgment debtor nos. 1 and 2, submits that the decree has been fully satisfied and the decree-holder 2 has issued a letter showing no due, as such the shares lying in the aforesaid account in eighteen different companies be transmitted to the Demat Account of the judgment debtor no.2.
It is found from pages 6, 7 and 8 of the report of learned Receiver shows that shares of eighteen different companies are lying in the Demat Account of the broker, namely IIFL Securities Limited. The letter dated 19 th August, 2013 of Citibank N.A at page 74 of the application shows no due in respect of Cash Credit Account of judgment debtor no.1 being 304009004. Learned Receiver also shows his willingness to transmit those shares in the Demat Account of the judgment debtor no.2.
Ms. Ankita Singh, learned advocate for the decree-holder, also submits that the decree has been fully satisfied and she does not raise any objection to the prayer made on behalf of the judgment debtors.
Accordingly, learned Receiver is directed to transmit the shares of eighteen different companies appearing at pages 6, 7 & 8 of "Statement of Holdings" to the Demat Account of the judgment debtor no.2 and submit a report on the returnable date.
Learned advocate for the judgment debtor no.2 is directed to co- operate with the Receiver and further she is directed to provide the Demat Account of the judgment debtor no.2 where the relevant shares are to be transmitted.
List this matter on 29th July, 2024.
(BIVAS PATTANAYAK, J.) snn.