IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 22.10.2021 CORAM:

THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN E.P.No.101 of 2019, A.Sr.No.85173 & 85174 of 2021 and A.No.1663 of 2020 M.Gagan Bothra S/o.Late Shri S.Mukanchand Bothra No.44, Veerappan Street, Sowcarpet, Chennai – 79.

...Decree holder/ Financial Creditor Vs.

1.M/s.Sai Baba Business Solutions Pvt. Ltd., Rep. by V.Subramanyam Naidu No.46, Dr.B.N.Road, 2nd Street, T.Nagar, Chennai – 600 017.

... Garnishee/ Resolution Applicant

2.Senthil Kumar Suspended Director M/s.PRC International Hotel Pvt Ltd., 37, North Boag Road, T.Nagar, Chennai – 17.

3.Kanaka Subbu Ganapathy Suspended Director M/s.PRC International Hotel Pvt Ltd., 37, North Boag Road, T.Nagar, Chennai – 17.

... Respondents 2 and 3/ Ex-Directors

4.Mr.Rajendran, Resolution Professional

71/1, Mc Nicholas Road, Off Poonamallee High Road, Chetpet, Chennai.

[4^th respondent impleaded suo moto vide order dated 06.12.2019 made in E.P.No.101 of 2019 and time extended vide order dated 06.01.2020]

... 4^th respondent/ Resolution Professional PRAYER: Execution Petition is filed under Order XXI Rule 46 (A & B) of the Code of Civil Procedure praying to attach the amount of Rs.80,33,342/- (Eighty Laksh Thirty Three Thousand Three Hundred and Forty Two) that is payable by the garnishee/ resolution applicant to the respondents 2 and 3 under the resolution plan that has been approved by the NCLT, Chennai bench vide order dated 27.08.2019 and order deposit of the above amount to the credit of the present execution petition.

For Petitioner : Mr.Gagan Bothra Party – in – person For Respondents : Mr.B.Siddeswaran for R1 Mr.R.Suresh for R2 and R3 Ms.M.Sarithadevi for R4 **********

O R D E R

The Execution Petition in E.P.No.101 of 2019 has been filed by the applicant Mr.Gagan Bothra seeking execution of the order of the National Company Law Tribunal (NCLT) dated 27.08.2019 approving resolution plan in respect of the Company under liquidation.

2. According to the applicant, one PRC International Hotel Pvt.

Ltd., had borrowed a sum of Rs.2,00,00,000/- (Rupees two Crores only) from him and the amount that was adjudicated to be due to him by the NCLT was Rs.2,33,66,000/- (Rupees two crores thirty three laksh sixty six thousand only), vide its order dated 24.07.2018 made in C.P.No.540 of 2018. Upon a resolution plan being submitted by the 1^st respondent herein, the NCLT directed payment of a sum of Rs.64,32,660/- (Rupees sixty four lakhs thrity two thousand six hundred and sixty only) to the applicant vide its order dated 27.08.2019. It is not in dispute that the said amount has been paid over to the applicant.

3. The applicant has come up with this Execution Petition contending that as per the resolution plan, a sum of Rs.80,33,342/- (Rupees eighty lakhs thirty three thousand three hundred and forty two only) has been directed to be paid over to the Ex-Directors of the Company in liquidation and hence, he is entitled to seek attachment and recover the said sum by executing the order of the NCLT dated 24.07.2018.

4. Though, the learned Master initially held that the Execution Petition is maintainable and passed some interim orders for attachment of the amount, subsequently, when the matter came up, he entertained a doubt regarding maintainability of the Execution Petition and finally by an order dated 17.03.2020 referred the matter to the Court for adjudication on the maintainability of the Execution Petition.

5. Mr.Gagan Bothra has also filed applications in Diary Nos.85173 and 85174 of 2021 seeking condonation of delay in filing an appeal against the said order of the learned Master dated 17.03.2020 and to set aside the said order in the form of appeal. Those applications and the Execution Petition have been posted for maintainability today.

6. Heard Mr.Gagan Bothra appearing in person.

7. Mr.Gagan Bothra would submit that this Court has power to execute the order passed by the NCLT. He would contend that the NCLT is also a Court as defined under National Leg