Bombay High Court
Ambey Mining Pvt Ltd vs Bla Industries Pvt Ltd on 13 October, 2021
Author: A. K. Menon
Bench: A. K. Menon
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L) NO. 8194 OF 2021
IN
EXECUTION APPLICATION (L) NO. 8190 OF 2021
Ambey Mining Pvt. Ltd. ... Applicant
vs.
Bla Industries Pvt. Ltd. ... Respondent
WITH
INTERIM APPLICATION (L) NO. 2536 OF 2021
IN
COMMERCIAL ARBITRATION PETITION NO. 260 OF 2021
Bla Industries Pvt. Ltd. ... Applicant
vs.
Ambey Mining Pvt. Ltd. ... Respondent
Mr.Shiraz Rustomjee, Senior Advocate a/w. Ms.Shreya Parikh, Ms. Smriti
Singh, Ms. Tanvi Gaitonde and Ms. Jennifer Sanjana i/b. Zerick Dastur,
Advocates and Solicitors for the Applicants in IAL/8194/2021 and
forRespondent in IA/2536/2021.
Ms. Afreen Noor i/b. Economic Law Practice for Respondent.
CORAM : A. K. MENON, J.
DATED : 13th OCTOBER, 2021 P.C. :
1. By the present interim application the applicant - award holder seeks various measures to secure the amount awarded. The award is dated 28 th RAJESHWARI RAMESH PILLAI October,2020. The tribunal has directed the respondent to pay the claimant a Digitally signed by RAJESHWARI 1/3 RAMESH PILLAI Date: 2021.10.14 26-IAL-8194-2021-EXAL-8190-2021.odt 18:16:13 +0530 rrpillai sumof Rs. 2,57,01,518. 80 ps with interest thereon @ 9% per annum from 31st March, 2015 till date of payment and or /realization and costs of Rs. 15 lakhs.
2. The respondent which had filed a counter claim but did not succeed in the counter claim. The counter claim was rejected. It is stated that the respondent has filed petition under section 34 of the Arbitration and Conciliation Act challenging the award but there is no stay operating against the enforcement of the award.
3. By this interim application the applicant seeks enforcement in the execution application. Mr. Rustomjee, learned Senior Advocate on behalf of the applicant states that in order to enable the applicant to proceed in execution it is necessary for the respondent to disclose their assets. He has referred to reports that state that the respondent are facing financial difficulties and submits that unless assets are disclosed the applicant will not be able to proceed in execution. Thus he seeks an order of disclosure at this ad-interim stage.
4. Ms. Noor the learned counsel on behalf of the respondent has opposed the application. She seeks to rely upon the avernments in the affidavit in reply and submits that a challenge to the award is pending and that the respondent will move the petition to set aside of the award. She therefore submits that no relief be granted at this stage and that the award is not executable.
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5. I have heard the learned counsel for the parties at some length and I find the award is executable as on date since its operation has not been stayed.
There is no reason to decline the relief of disclosure that is sought at this stage and accordingly I pass the following order :
(i) There will be ad-inteim order in terms of prayer clause (c), (d) and (e).
(ii) Disclosure affidavit shall be filed by a director of the respondent company in charge of the finance. The deponent shall personally verify contents of the affidavit of disclosure and its annexures. Disclosure shall be complete in all respects including by listing out movable and immovable properties separately, encumbrance(s) if any and book debts and other receivables. It will also set out if any security is offered to any bank(s) or financial institution(s) in relation to such properties disclosed. Affidavit of disclosure to be filed on or before 27 th October, 2021.
(iii) In the meantime respondents are restrained from creating any further encumbrance or alienate any of the properties except in the ordinary course of business and without leave of this court.
(iv) List on 28th October, 2021 for compliance.
(A. K. MENON, J.) 3/3 26-IAL-8194-2021-EXAL-8190-2021.odt rrpillai