1 IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL ORIGINAL ORIGINAL CIVIL JURISDICTION CIVIL JURISDICTION CIVIL JURISDICTION NOTICE NOTICE NOTICE OF OF OF MOTION NO.713 of 2007 MOTION NO.713 of 2007 MOTION NO.713 of 2007 IN IN IN SUIT SUIT SUIT NO.3014 NO.3014 NO.3014 OF 2006 OF 2006 OF 2006 and and and NOTICE NOTICE NOTICE OF MOTION NO.714 OF 2007 OF MOTION NO.714 OF 2007 OF MOTION NO.714 OF 2007 inin in SUIT SUIT SUIT NO.3015 OF 2006 NO.3015 OF 2006 NO.3015 OF 2006 M/s M/s M/s Kumar Textile Processors Kumar Textile Processors Kumar Textile Processors ...... Plaintiff Plaintiff Plaintiffs vs vs vs Amit Amit Amit Anantrai Anantrai Anantrai Chhatbar & anr.. Chhatbar & anr.. Chhatbar & anr.. Defendants Defendants Defendants & Kotak Kotak Kotak Mahindra Bank Limited .. Applicant Mahindra Bank Limited .. Applicant Mahindra Bank Limited .. Applicant Mr.V Mr.V Mr.V Mannadiar Mannadiar Mannadiar for Applicant for Applicant for Applicant Mr.Sanjay Mr.Sanjay Mr.Sanjay Jain with Mr.Dipesh Siroya i.b L.J.Law Jain with Mr.Dipesh Siroya i.b L.J.Law Jain with Mr.Dipesh Siroya i.b L.J.Law for for for Plaintiff. Plaintiff. Plaintiff. CORAM CORAM CORAM : : : A.M.KHANWILKAR, J A.M.KHANWILKAR, J A.M.KHANWILKAR, J DATE DATE DATE : 9th April, 2007 : 9th April, 2007 : 9th April, 2007 P.C. P.C. P.C. 1.1.1. By this motion, third party applicant in By this motion, third party applicant in By this motion, third party applicant in substance substance substance prays that the consent decree passed by prays that the consent decree passed by prays that the consent decree passed by this this this Court on 27th January, 2007 be set aside for Court on 27th January, 2007 be set aside for Court on 27th January, 2007 be set aside for reasons reasons reasons stated in the affidavit in support of the stated in the affidavit in support of the stated in the affidavit in support of the motion. motion. motion. The ground asserted is essentially one of The ground asserted is essentially one of The ground asserted is essentially one of fraud fraud fraud played on Court as well as on the applicant played on Court as well as on the applicant played on Court as well as on the applicant third third third party. It is not necessary to examine the party. It is not necessary to examine the party. It is not necessary to examine the matter matter matter further in view of the assurance given by further in view of the assurance given by further in view of the assurance given by the the the counsel appearing for the plaintiff that, in counsel appearing for the plaintiff that, in counsel appearing for the plaintiff that, in the the the event the bank takes recourse to proceedings event the bank takes recourse to proceedings event the bank takes recourse to proceedings under under under Securitarisation Act or any such proceedings Securitarisation Act or any such proceedings Securitarisation Act or any such proceedings for for for recovery recovery recovery of the loan amount from the defendants of the loan amount from the defendants of the loan amount from the defendants and and and action related to the suit properties, in such action related to the suit properties, in such action related to the suit properties, in such proceedings, proceedings, proceedings, Plaintiff will not press into service Plaintiff will not press into service Plaintiff will not press into service the the the consent consent consent decree of the High Court to defend such decree of the High Court to defend such decree of the High Court to defend such proceedings proceedings proceedings or with a view to defeat the claim of or with a view to defeat the claim of or with a view to defeat the claim of 2 the the the applicant third party under the loan agreement applicant third party under the loan agreement applicant third party under the loan agreement or or or provisions of Securitarisation Act as the case provisions of Securitarisation Act as the case provisions of Securitarisation Act as the case may may may be. Counsel for the plaintiff further states be. Counsel for the plaintiff further states be. Counsel for the plaintiff further states that that that the the the plaintiffs will claim rights in respect of plaintiffs will claim rights in respect of plaintiffs will claim rights in respect of the the the disputed properties only subject to rights of disputed properties only subject to rights of disputed properties only subject to rights of the the the applicant-bank. applicant-bank. applicant-bank. The above statements are The above statements are The above statements are accepted. accepted. accepted. 2.2.2. In view of above statement, motion by third In view of above statement, motion by third In view of above statement, motion by third party party party applicant is not pressed. The same is applicant is not pressed. The same is applicant is not pressed. The same is disposed disposed disposed of on the above terms. of on the above terms. of on the above terms. (A.M.Khanwilkar, (A.M.Khanwilkar, (A.M.Khanwilkar, J) J) J)