KAMAT HOTELS (INDIA) LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) The following workable arrangement is proposed and accepted. Both sides agree that no reasons are required for this order and that it will be in substitution of the order of 23/6/2023.

(2.) The Petitioners have brought into court an amount of Rs.3.00 crores. They have to make arrangements for bringing into court a total amount of Rs.15.67 crores. Mr Kamat on instructions tenders a list of accounts showing the account details, such as the bank, branch, account number, the unit, (i.e., the actual property or enterprise that is being managed with these accounts) and the funds in these accounts that will be made available. The total is Rs.12,78,27,211.50. The agreement is that from this total amount, the required balance of Rs.12.67 crores will, by drawing on the listed accounts, be brought into the court within two weeks from today. This means that the managers of the various branches of the different banks (Andheri branch, Kotak Mahindra Bank; Vile Parle East branch, Canara Bank; Vile Parle East branch, UCO Bank) will allow the disbursement of these funds by the Petitioners. They will all act upon production of an authenticated copy of this order. The transfers are to be done by bank instruments (such as demand drafts or bankers' cheques) or by online transfer in favour of the Prothonotary and Senior Master of this court. This is to be done within two weeks from today. A scan of the list is annexed to this order for ready reference.

(3.) In a separate tabulation below the list is the name of a designated account of Kamat Hotels (India) Limited ("KHIL"). This is a current account number 0172201006107 with Canara Bank Vile Parle East account. It is agreed that this is the account into which the gross revenues of the Hotel in Bhubaneshwar, Odisha will be remitted and brought in with effect from 1/6/2023.