Tata Capital Limited vs Prime Movers Auto Associates Pvt. Ltd. … on 22 January, 2025

Calcutta High Court

Tata Capital Limited vs Prime Movers Auto Associates Pvt. Ltd. … on 22 January, 2025

Author: Shampa Sarkar

Bench: Shampa Sarkar

 ORDER                                                             OCDL - 13
                  IN THE HIGH COURT AT CALCUTTA
                ORDINARY ORIGINAL CIVIL JURISDICTION
                       [COMMERCIAL DIVISION]

                         AP-COM/21/2025
                       TATA CAPITAL LIMITED
                                VS
            PRIME MOVERS AUTO ASSOCIATES PVT. LTD. ORS.


  BEFORE:
  THE HON'BLE JUSTICE SHAMPA SARKAR
  Date : 22nd January 2025.
                                                                  APPEARANCE:
                                              Mr. Swatarup Banerjee, Advocate
                                                   Mr. Avishek Guha, Advocate
                                              Mr. Ankush Majumdar, Advocate
                                                           ... for the petitioner.
                                                Mr. Sanwal Tibrewal, Advocate
                                                 Ms. A. Parajita Rao, Advocate
                                                 Ms. Nabanita Dutta, Advocae
                                                         ...for the respondents

The Court:- The affidavit of service is taken on record.

This is an application under Section 9 of the Arbitration and

Conciliation Act, 1996. The petitioner prays for an injunction restraining

the respondents from dealing with the properties described in paragraph 7

under Schedule-A of this application. The same is quoted below:-

SCHEDULE-A
“Srl. Property Description Area of Title Deed in the
No. Land name of

1. Office Space Being Unit 1037 Sq.ft Prime Movers
no.301 on the 3rd Floor, at Auto Associates
Northern Side, situated at Private Limited
Municipal premises no. 40A,
CIT Scheme no. VIE also
known as P 40 Princep
Street, Kolkata – 700072

2. Flat no. E-114, 11th floor, 1100 Sq.ft Auto Associates
Tower no. E, situated in the Private Limited
lay out Plan of Complex
known as Raheja’s
Navodaya and Sampada,
2

Sector – 92, Gurgaon now
known as Gurgaon along
with proportionate rights in
the land beneath,
proportionate rights in
common area and one car
parking space no. UB-220 in
Upper Basement in the
Complex.”

The petitioner contends that a loan amount of about Rs.10 crore had

been sanctioned in favour of the respondents. The respondents defaulted.

The respondents issued cheques which were dishonoured as the accounts

from which the cheques were issued were allegedly blocked. Ms. Rao,

learned advocate for the respondents submits that the petitioner has

already proceeded against the respondents under Section 13(2) of the

Securitisation and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 [SARFAESI Act] and as a result, the

respondents are, in any event, restrained by operation of law from dealing

with properties involved. It is also submitted that the accounts from

which the cheques have been issued were declared NPA and as such, the

scope of operating those accounts also does not arise.

Upon such submissions, this Court does not find any further need to

pass additional injunction on the properties, as stated hereinabove, as the

injunction is already operating under the provisions of the SARFAESI Act.

The application is accordingly disposed of.

The petitioner is at liberty to take steps in accordance with the law

under the Arbitration and Conciliation Act, 1996.

(SHAMPA SARKAR, J.)
3

S. Kumar / R. D. Barua