Supreme Court - Daily Orders
M/S. Integrated Finance Company ... vs Garware Marine Industries Ltd on 7 August, 2023
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IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NOS. OF 2023
[arising out of SLP (Civil) Nos. 11410-11411/2020]
M/S. INTEGRATED FINANCE COMPANY LIMITED APPELLANT(S)
VERSUS
GARWARE MARINE INDUSTRIES LTD. RESPONDENT(S)
O R D E R
Leave granted.
Having heard the learned counsel for the parties, we are of the opinion that Suit C.S. no. 591/2010 titled “M/s. Integrated Finance Company Limited vs. Garware Marine Industries Limited”, relates to a commercial dispute arising out of an ordinary transaction of merchants, bankers, financiers or traders, such as those relating to mercantile documents, including enforcement and interpretation of such documents in terms of Section 2(1)(c)(i) of the Commercial Courts Act, 2015 (the Act). We are also of the opinion that the High Court, in the order and judgment dated 26.10.2018 upholding the order of the trial court, unnecessarily went into the question of whether mercantile document/transaction constitutes a financial or an operating lease. This question and aspect is irrelevant for the purpose of interpretation and application of Signature Not Verified Digitally signed by sub-clause (i) to clause (c) of Section 2(1) of the Act. Deepak Guglani Date: 2023.08.09 18:06:32 IST Reason:
We also note that the suit preferred by the respondent - M/s. Garware Marine Industries Limited, namely C.S. No. 689 of 2014, 2 pursuant to the same mercantile documents, is being tried by the commercial court.
In view of the aforesaid position, the impugned judgment dated 19.06.2020 passed by the High Court of Judicature at Madras dismissing Original Side Appeal no. 92/2019 and Civil Miscellaneous Petition no. 9003/2019 and upholding the order passed by the Trial Court dated 28.10.2018 in C.S. no. 591/2010 that the suit in question is not a “commercial dispute” under the terms of the Act, is set aside.
Accordingly, the suit, C.S. no. 591/2010 will be transferred to commercial court which is in seisin of C.S. No. 689/2014 titled “Garware Marine Industries Limited vs. Integrated Finance Company Limited”.
The appeals are accordingly allowed and disposed of in the above terms. There will be no order as to costs.
Pending application(s), if any, shall stand disposed of.
..................J. (SANJIV KHANNA) ..................J. (S.V.N. BHATTI) NEW DELHI;
AUGUST 07, 2023.
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ITEM NO.22 COURT NO.3 SECTION XII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition for Special Leave to Appeal (C) Nos. 11410-11411/2020 (Arising out of impugned final judgment and order dated 19-06-2020 in OSA No. 92/2019 and CMP No. 9003/2019 passed by the High Court of Judicature at Madras) M/S. INTEGRATED FINANCE COMPANY LIMITED Petitioner(s) VERSUS GARWARE MARINE INDUSTRIES LTD. Respondent(s) (IA No. 95345/2020 - EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT and IA No. 57590/2021 - STAY APPLICATION) Date : 07-08-2023 These matters were called on for hearing today. CORAM : HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE S.V.N. BHATTI For Petitioner(s) Mr. V.P. Raman, Adv.
Mr. Amol Chitale, Adv.
Mr. K. Seshasayee, Adv.
Mrs. Pragya Baghel, AOR For Respondent(s) Mr. Kush Chaturvedi, AOR Mr. Sayeed Mulani, Adv.
Mr. Syed Faraz Alam, Adv.
Mr. Atharva Gaur, Adv.
Mr. Aayushman Aggarwal, Adv.
UPON hearing the counsel the Court made the following O R D E R Leave granted.
The appeals are allowed and disposed of in terms of the signed order.
Pending application(s), if any, shall stand disposed of.
(DEEPAK GUGLANI) (R.S. NARAYANAN) AR-cum-PS ASSISTANT REGISTRAR
(signed order is placed on the file)