1 PGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Notice of Motion No.922 of 2010 IN Suit No.625 of 2000 Dr.P.J. Thomas ... ... Plaintiff v/s. Epic Enzymes Pharmaceuticals & Industrial Chemicals Limited. ... ... Defendant Mr.Karl Shroff i/by B.Amin & Co. for Plff. Mr.Mehul Shah with Mr.A.G. Shah for Deft. Mr.P.K. Mahajan, Managing Director of Defendant and Director of Mahakrishna Chemicals Ltd., subsidiary of Deft. -----_ CORAM : SMT.ROSHAN DALVI, J. DATED : 9th April, 2010 P.C. : 1.This Notice of Motion is for attachment of the first property of the Defendant-Company in the Schedule to the Notice of Motion. There has been a mortgage of this property to the State Bank of India. Proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, have been adopted by the Bank. No order in respect of the properties mentioned in the Schedule to the Notice of Motion can, therefore, be passed. 2 2.The Defendants claim that the second property in the Schedule to the Notice of Motion is required to pay off the statutory dues of the secured creditors of the Company. 3.However, the Managing Director of the Defendant fairly states, upon the Court s query about any other properties of the Defendant-Company, that the subsidiary Company of the Defendant Mahakrishna Chemicals Ltd. owns an immovable property at plot No. 301, GIDC, Paval, District Bharuch, Gujarat which is offered as collateral security to State Bank of India for the same loan. The Defendant-Company agrees not to further transfer the above property of its subsidiary Company to anyone pending the Suit. The statement is accepted. 4.The Notice of Motion is disposed of accordingly. 5.Written Statement is filed. 6.Suit is adjourned to 4 th May 2010 for framing issues. 7.Parties agree to consider the settlement of the entire Suit. (SMT.ROSHAN DALVI, J.) 3