PUEBLO HOLDINGS LIMITED Vs. EMIRATES TRADING AGENCY LLC

JUDGEMENT

(1.) The decree holder has filed the above execution proceedings to execute an award that they have obtained against the first respondent by attaching the shares of the 1st respondent which, they would contend, are ostensibly registered in the name of the respondents 3 to 7. It is the case of the Decree Holder that the shares are being held by respondents 3 to 7 for and on behalf of the 1st respondent. As a prelude, the orders passed on various hearing dates are culled out briefly.

(2.) This execution petition has been instituted in the year 2019. On 28/3/2019, the 3rd respondent had sought time to file a detailed counter to the above execution proceedings. At that point in time, the other respondents had not been served. Although the 3rd respondent had undertaken to file a counter in the above execution proceedings, the said counter has not been filed to date and thereafter, the respondents 3 to 7 had started addressing arguments regarding the maintainability of the petition. On 22/3/2021, the senior counsel who had submitted the arguments was reported to be indisposed and therefore the matter was posted to 12/4/2021. Thereafter, there was a change in the roster.

(3.) Since the matter had been heard extensively by this Court, on the representation of the parties to the proceedings, the matter was once again listed before this Court as a specially ordered matter by orders of the Acting Chief Justice on 8/5/2023 and the parties had commenced their arguments on 30/8/2023 and orders were reserved by this Court on 18/10/2023. The parties had submitted that they would be filing their written arguments.