{"id":33191,"date":"2010-03-08T00:00:00","date_gmt":"2010-03-07T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/bhagyalaxmi-vs-tribhuvan-on-8-march-2010"},"modified":"2018-10-23T21:51:56","modified_gmt":"2018-10-23T16:21:56","slug":"bhagyalaxmi-vs-tribhuvan-on-8-march-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/bhagyalaxmi-vs-tribhuvan-on-8-march-2010","title":{"rendered":"Bhagyalaxmi vs Tribhuvan on 8 March, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Bhagyalaxmi vs Tribhuvan on 8 March, 2010<\/div>\n<div class=\"doc_author\">Author: M.R. Shah,&amp;Nbsp;<\/div>\n<pre>   Gujarat High Court Case Information System \n\n  \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nOJCA\/116\/2010\t 4\/ 4\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCIVIL\nAPPLICATION No. 116 of 2010\n \n\nIn\n\n\n \n\nCOMPANY\nPETITION No. 252 of 2008\n \n\n \n \n=========================================================\n\n\n \n\nBHAGYALAXMI\nCO-OPERATIVE BANK LTD ( IN LIQUIDATION ) - Applicant(s)\n \n\nVersus\n \n\nTRIBHUVAN\nRASAYAN LIMITED &amp; 1 - Respondent(s)\n \n\n=========================================================\n \nAppearance : \nMR\nNV GANDHI for\nApplicant(s) : 1, \nMR UDAYAN P VYAS for Respondent(s) : 1, \nMR TS\nNANAVATI for Respondent(s) :\n2, \n=========================================================\n\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE M.R. SHAH\n\t\t\n\t\n\n \n\nDate\n: 08\/03\/2010  \nORAL ORDER<\/pre>\n<p>Heard<br \/>\n\tShri Sunit Shah, learned advocate appearing on behalf of the<br \/>\n\tapplicant- third party and Shri Udayan P.Vyas, learned advocate<br \/>\n\tappearing on behalf of respondent No.1- original respondent-Company<br \/>\n\tand Shri Bomi Shethana, learned advocate for Shri T.S.Nanavati,<br \/>\n\tlearned advocate appearing on behalf of respondent No.2- original<br \/>\n\tpetitioner. With the consent of learned advocates appearing on<br \/>\n\tbehalf of the respective parties, present application is taken  up<br \/>\n\tfor final hearing today.\n<\/p>\n<p>Present<br \/>\n\tSummons has been taken out by applicant- Bhagyalaxmi Co. Op. Bank<br \/>\n\tLtd. (in liquidation) for an appropriate clarification and\/or<br \/>\n\tdirection that orders passed by this Court from time to time in<br \/>\n\tpresent petition do not come in the way of applicant to take<br \/>\n\tphysical possession of the property being Plot No.1\/14 GIDC, Near<br \/>\n\tSaij Railway Crossing Tal. Kalol, District: Gandhinagar with the<br \/>\n\thelp of Police protection.\n<\/p>\n<p>It<br \/>\n\tis the case on behalf of the applicant that learned Board of<br \/>\n\tNominees at Ahmedabad has passed an award in favour of the<br \/>\n\tapplicant-Bank and against respondent No.1-Company in Lavad Case<br \/>\n\tNo.617 of 1998 awarding a sum of Rs.36,20,762\/- and interest @ 23%<br \/>\n\twith the cost of Rs.5000.00. It is submitted that while passing the<br \/>\n\tsaid award, learned Board of Nominees also confirmed the injunction<br \/>\n\tand attachment (granted earlier) vide order dated 22.12.1998 till<br \/>\n\tsatisfying the said amount of award by the applicant-Bank. It is<br \/>\n\tfurther submitted that learned Board of Nominees at Ahmedabad has<br \/>\n\talso passed an award in favour of applicant-Bank in Lavad Case<br \/>\n\tNos.618 of 1998 and 619 of 1998 also. It is submitted that<br \/>\n\tsubsequently the said Bank went into liquidation. It is the case on<br \/>\n\tbehalf of the applicant-Bank that Recovery Officer of the Bank<br \/>\n\texcising her powers U\/s.159 of the Gujarat Co.Op. Societies Act<br \/>\n\tpursuance to the said award passed in Lavad Case No.617 of 1998<br \/>\n\tpassed an attachment order of the said property on 17.11.2008 and<br \/>\n\thad taken symbolic possession of the said property and issued public<br \/>\n\tnotice for taking symbolic possession in Gujarati Daily Newspaper on<br \/>\n\t17.5.2009. It is submitted that only due to pendency of the present<br \/>\n\twinding up petition being Company Petition No.252 of 2008, applicant<br \/>\n\tis not in a position to get physical possession of the property in<br \/>\n\tquestion. Therefore, it is requested to clarify and\/or modify the<br \/>\n\tearlier order and permit the applicant-Bank to take symbolic<br \/>\n\tphysical possession of the property in question without prejudice to<br \/>\n\tthe rights and contentions of the respective parties and\/or other<br \/>\n\tcreditors and without claiming any equity.\n<\/p>\n<p>Shri<br \/>\n\tUdayan P.Vyas, learned advocate appearing on behalf of the<br \/>\n\trespondent No.2   original respondent-Company has stated that if<br \/>\n\tby making suitable observations and protecting the rights of the<br \/>\n\trespective parties, if suitable order is passed, he has no<br \/>\n\tobjection.\n<\/p>\n<p>Shri<br \/>\n\tBomi Shethana, learned advocate appearing on behalf of the original<br \/>\n\tpetitioner has requested to pass appropriate order.\n<\/p>\n<p>Having<br \/>\n\theard the learned advocates appearing for the respective parties and<br \/>\n\tconsidering the fact that the Company Petition No.252 of 2008 has<br \/>\n\tbeen admitted which is for winding up of respondent No.1-Company and<br \/>\n\tis fixed for final hearing, and considering the fact that in the<br \/>\n\tmeantime, i.e. there is already award in favour of the<br \/>\n\tpetitioner-Bank and against respondent No.1-Company passed by the<br \/>\n\tlearned Board of Nominees passed in Lavad Case No.617 of 1998<br \/>\n\tawarding the sum of Rs.36,20,762\/- along with interest @ 23% and<br \/>\n\tfurther award have been passed in favour of the applicant-Bank in<br \/>\n\tLavad Case No.618 of 1998 and 619 of 1998, and in view of the order<br \/>\n\tof attachment passed by the learned Board of Nominees earlier,<br \/>\n\tapplicant-Bank is hereby permitted to take possession of the<br \/>\n\tdisputed property in question in accordance with law and on merits<br \/>\n\tand after following due procedure of law and pendency of the present<br \/>\n\tCompany Petition shall not come in the way of applicant-Bank in<br \/>\n\ttaking such a possession. However, it is observed and clarified and<br \/>\n\tas agreed by the learned advocate appearing on behalf of the<br \/>\n\tapplicant that such a taking over of the possession by the applicant<br \/>\n\tshall be symbolic physical possession only and the same shall be<br \/>\n\twithout prejudice to the rights and contentions of the respective<br \/>\n\tparties, more particularly, other creditors of the respondent<br \/>\n\tNo.1-Company, and on getting such possession, the petitioner shall<br \/>\n\tnot claim any equity solely on getting the symbolic physical<br \/>\n\tpossession and\/or preferential claim over the other secured creditor<br \/>\n\tand\/or other creditors. At the time of taking over the possession,<br \/>\n\tthe applicant-Bank shall inform the Official Liquidator attached<br \/>\n\twith the Gujarat High Court as well as the representative of the<br \/>\n\trespondent No.1-Company and necessary panchnama \/ inventory be made<br \/>\n\tat the time of taking over possession of the applicant-Bank in<br \/>\n\tpresence of the representative of the Official Liquidator attached<br \/>\n\twith this Court and as well as representative of respondent<br \/>\n\tNo.1-Company and the aforesaid would be subject to the further order<br \/>\n\tthat may be passed by this Court.\n<\/p>\n<p>\tWith<br \/>\n\tthis present application is disposed of and\/or allowed to the<br \/>\n\taforesaid extent.\n<\/p>\n<p>(M.R.SHAH,<br \/>\nJ.)<\/p>\n<p>(ashish)<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Bhagyalaxmi vs Tribhuvan on 8 March, 2010 Author: M.R. Shah,&amp;Nbsp; Gujarat High Court Case Information System Print OJCA\/116\/2010 4\/ 4 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD CIVIL APPLICATION No. 116 of 2010 In COMPANY PETITION No. 252 of 2008 ========================================================= BHAGYALAXMI CO-OPERATIVE BANK LTD ( IN LIQUIDATION ) &#8211; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,8],"tags":[],"class_list":["post-33191","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bhagyalaxmi vs Tribhuvan on 8 March, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/bhagyalaxmi-vs-tribhuvan-on-8-march-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bhagyalaxmi vs Tribhuvan on 8 March, 2010 - Free Judgements of Supreme Court &amp; 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