# In the matter of Edward Mauritius Ltd. & Anr.  Vs Kakade Estate Developers Private Limited & Ors.

> HC judgment dated 2025-01-08. Citation: TCN-2025-HC-00056. The case involves a Commercial Execution Application (L) No. 24448 of 2021 filed by Edward…

- **Court:** HC
- **Order date:** 8 Jan 2025
- **Citation:** TCN-2025-HC-00056
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/edward-mauritius-ltd-anr-vs-kakade-estate-developers-private-limited-ors-5f8a2127

## Summary

### Background

The case involves a Commercial Execution Application (L) No. 24448 of 2021 filed by Edward Mauritius Ltd. & Anr. against Kakade Estate Developers Private Limited & Ors. for the execution/enforcement of a consent award dated 19th January 2021. An interim application was filed seeking certain reliefs. A court receiver was appointed to take possession of a property in Bhugaon, Pune. Subsequently, a settlement agreement was reached between the parties.

## Facts

Edward Mauritius Ltd. & Anr. filed a Commercial Execution Application (L) No. 24448 of 2021 against Kakade Estate Developers Private Limited & Ors. seeking enforcement of a consent award dated 19th January 2021. The consent award was based on consent terms dated 25th November 2020, requiring the Judgment Debtors to pay Rs. 120,00,00,000/- with interest. An interim application was filed along with the execution application. The Court appointed a Court Receiver on 8th December 2021 to take possession of a property owned by Respondent No. 2 in Bhugaon, Pune. The Court Receiver took symbolic possession on 20th December 2021. On 13th October 2022, the Court directed the Court Receiver to sell the subject property. Subsequently, Respondent No. 2 offered a settlement

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## Issues and analysis

### Issue 1: Whether the Commercial Execution Application (L) No. 24448 of 2021 and connected Interim …

**Ratio:** The principle of law is that a settlement agreement between parties can form the basis

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**Reasoning:** The court reasoned that since the Judgment Creditors and Respondent Nos. 2 to 5 had

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**Interpretation:** The interpretation is that the court recognizes the autonomy of the parties to

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**Application:** The ratio and reasoning are applied to the specific facts by disposing of the

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## Parties

- **Judges:** R.I. CH…
- **Appellants:** Edward Mauritius…
- **Respondents:** Kakade Estate…
- **Other parties:** Kohi…

## Timeline

- **2021-01-19 — Consent Awa…**: Consent award passed by the Sole…
- **2020-11-25 — Consent Ter…**: Consent terms dated 25th November 2020, under which an amount of Rs. 120,00,00,000/-…

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