KOTAK MAHINDRA BANK LIMITED Vs. ELBEE SERVICES LTD

JUDGEMENT

(1.) The facts that are material and relevant for deciding this petition are that admittedly there is an award made in favour of the petitioner and against the respondents Nos. 1 and 3. That award has become decree. Execution application was taken out for execution of that award, which has become a decree. In that execution, a Chamber Summons was taken out by the petitioner. In that Chamber Summons after hearing both the sides, the court made an order directing that the persons and companies whose names are listed to Exh. C to the affidavit filed in support of the Chamber Summons to deposit in the Court 50% of the amount due and payable by them to the respondents and the claimant/petitioner was directed to withdraw the amount till they get Rs. 3,25,86,068/ -. Chamber Summons was also granted in terms of prayer Clause (d). Prayer clause (d) reads as under:- (d) that this Hon'ble Court be pleased to attach the amounts due and payable to the respondents by the debtors/persons mentioned in Schedule being Exhibit "c" to the affidavit in support and direct such debtors/persons to deposit the same in this hon'ble Court. Paragraphs 8, 9 and 10 of that order are relevant. They read as under:-

(2.) Thus, by this order the debtors of the respondents were directed to deposit 50% of the amount that they are liable to pay to the respondents in this Court and the amounts were also attached. An appeal being Appeal No. 554 of 2003 was preferred against that order passed in the chamber Summons before the Appeal court. In that Appeal, on 23rd July, 2003 the Court made an interim order. It is paragraphs 4 and 5 of that order which is relevant. It reads as under:-

(3.) Thus, by this order on the respondents making a statement that they will not receive any money from their debtors, this court stayed the operation of the order passed by the learned Single Judge which is quoted above.