Calcutta High Court
Magma Fincorp Limited vs Jmd Mega And Infrastructutes Ltd. & Ors on 17 May, 2018
Author: Soumen Sen
Bench: Soumen Sen
ORDER SHEET
EC No.140 of 2018
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
MAGMA FINCORP LIMITED
Versus
JMD MEGA AND INFRASTRUCTUTES LTD. & ORS.
BEFORE:
The Hon'ble JUSTICE SOUMEN SEN
Date : 17th May, 2018.
Appearance:
Mr. Paritosh Sinha, Adv.
Mr. Swatarup Banerjee, Adv.
Mr. K.K. Pandey, Adv.
Mr. S. Dubey, Adv.
Mr. S. Laha, Adv.
The Court : The report filed by the Receiver shows that the award-debtor is collecting Rs.8 lakhs per month as lease rentals. The learned counsel appearing on behalf of the award-debtor submits that the award-debtor is interested to settle the matter. An email dated 16th February, 2018 is produced before this Court which shows that the award-debtor as on 16th February, 2018 has agreed to pay over due amount of Rs.13 lakhs approximately by way of Rs.50,000/- per month. The award is not under challenge. In order to test the bona fide of the award-debtor, the award-debtor shall deposit a sum of Rs.15 lakhs with the award-holder on or before 31st May, 2018, failing which the rent receivable from the premises no.34/1, Canal South Road, Police Station - Tangra, Kolkata - 700016 shall stand attached. There shall be an order of injunction restraining the award-debtors from alienating and/or encumbering any of the property 2 and assets of the award-debtor. M/s. Aristo Pharmaceuticals Private Limited is restrained from creating any third party interest in respect of the assets and property.
Let this order be communicated by the Receiver to M/s. Aristo Pharmaceuticals Private Limited. The Receiver has circulated the report amongst the parties in Court today.
The email dated 16th February, 2018 is taken on record. The matter stands adjourned till 12th June, 2018.
(SOUMEN SEN, J.) B.Pal