Bombay High Court
Arbaza Alimentos Ltda vs Mac Impex And 3 Ors on 17 February, 2021
Author: B.P. Colabawalla
Bench: B.P. Colabawalla
(11)CARBPL8122.20.doc
Digitally
signed by
Dhanappa
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
Dhanappa I. Koshti
I. Koshti Date: ORDINARY ORIGINAL CIVIL JURISDICTION
IN ITS COMMERCIAL DIVISION
2021.02.18
14:37:57
+0530
COMMERCIAL ARBITRATION PETITION (L) NO. 8122 OF 2020
Arbaza Alimentos Ltd. ... Petitioner
Vs
1 MAC Impex & 3 Ors. ... Respondents
Mr. Chaitanya Nikte for the Petitioner.
Mr. Mahesh Vaswani with Mr. Asutosh Shukla, Ms. Dharini
Nagda, Ms. Shreya Tiwari and Mr. Sunil Behal for the Respondent.
CORAM : B.P. COLABAWALLA, J.
WEDNESDAY, 17TH FEBRUARY, 2021 P.C. :
1 The above Arbitration Petition is fled seeking to enforce the Foreign Award passed in favour of the petitioner dated 24th September, 2020. The Award directs the respondent to pay to the petitioner, an amount of USD 354,375 with interest @ 12% per annum from 10th November, 2019 until payment and also an amount of USD 1783.56 with interest at 4% per annum compounded at three monthly intervals from the date of the Award till the date of payment and also an amount of GBP SR Pasha, Sr PS Page 1 of 4 (11)CARBPL8122.20.doc 16,000/- with interest at 4% per annum, compounded at three monthly intervals from the date of the Award till the date of payment.
2 In this petition, the petitioner has also sought a direction against the respondents for disclosure on oath, regarding their immovable and movable properties as well as income tax returns, list of shares, debentures etc., as more particularly refected in prayer clause (e) of the petition. The learned advocate appearing on behalf of the respondents pointed out to the Court that the respondents have already fled two affdavits of disclosure, one dated 23 rd January, 2021 and the other dated 12th February, 2021. He submitted that the claim in the above Award comes to approximately Rs.3.18 crores. He submitted that respondent No.3 is the owner of a property admeasuring 1806 square feet situate at Offce No.R/22, Market -
2, Phase - 2, APMC Market, Sector 19, Vashi, Navi Mumbai, Maharashtra, India, and whose approximate value is Rs.3.30 crores. Similarly, he submitted that respondent No.2 has, as recently as 11th February, 2021, purchased a premises being Flat No.303 on the third foor admeasuring 900 square feet built up SR Pasha, Sr PS Page 2 of 4 (11)CARBPL8122.20.doc area at MITHA TOWER Co-operative Housing Society Limited, situated at Vashi, Navi Mumbai 400 703. The value of this property is approximately Rs.1.85 crores. He also brought to my attention, paragraph 6 of the affdavit dated 12 th February, 2021 wherein it is stated that both the aforesaid properties are not encumbered in any manner whatsoever and the respondents affrm and undertake that they shall not alienate, encumber, or create any third party rights in respect of the above said two properties till the hearing and fnal disposal of the petition. 3 Considering the latest disclosure affdavit dated 12 th February, 2021, fled on behalf of the respondents, I fnd that the amount awarded to the petitioner under the Foreign Award dated 24th September, 2020, and of which they seek enforcement, is adequately secured. In these circumstances, at least at this stage, I do not see any reason to pass any further order against the respondents. It is clarifed that as per the statement made in the affdavit dated 12th February, 2021, the respondent shall not encumber, alienate, part with possession and/or create any third party rights, title or interest in respect of the two properties mentioned hereinabove.
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(11)CARBPL8122.20.doc 4 The respondents shall fle their affdavit-in-reply to the above petition on or before 17th March, 2021 and serve a copy of the same on the advocates for the petitioner. The petitioner shall be at liberty to fle an affdavit-in-rejoinder, if it so chooses, on or before 24th March, 2021 and serve a copy of the same on the advocates for the respondents.
5 List the above mater peremptorily for hearing on 25 th March, 2021.
6 This order shall be digitally signed by the Private Secretary/Personal Assistant of this Court. All concerned shall act on production by fax or e-mail of a digitally signed copy of this order.
B.P. COLABAWALLA, J.
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