ORIENTAL EXPORTS AND OTH vs CENTRAL BANK OF INDIA AND ANR on 24 April 2026

Rina S. Order Sheet (continuation) Case No. NDN/ 700/2024(MA) IN OA/189/2009 SCHEFIELDS LTD AND ORS Vs. PRUDENT ASSET RECONSTRUCTION COMPANY LTD. Date of the Order dated necessary 24/04/202 6 Ld. Counsel Mr. Nimesh Mishra and Mr. R. Poddar appeared for the NDN Applicant. Ld. Counsel S. Pal Chowdhury, Mr. K. Patra and Ms. A. Khasnabish appeared for the Central Bank of India. NDN Applicant has filed this MA which is registered as NDN/700/2024(MA) contending that Oriental Exports was Defendant No. 7 in OA/189/2009 which was disposed of by way of settlement between Prudent ARC and Defendants. In the OA, Defendants have made counter claim. Applicant has filed IA/1601/2023 for disposal of application and withdrawal of counter claim by virtue of settlement between Prudent Asset Reconstruction Company Ltd. and the defendants and both OA and counter claim were disposed of by settlement. Applicant have given 5000 shares along with bonus of Grasims Industries and 7000 shares to AV Capital Ltd. to Respondent Bank but the said shares have not been released in favour of Applicant. Ld. Counsel for Central Bank of India has filed IA/2252/2024

Rina S. Date of the Order dated necessary submitting that since the OA has been disposed of by way of settlement the name of Central Bank of India be expunged from this case. The NDN Applicants have filed several letters regarding request to Central Bank of India for transfer of 5,000 shares of the Hindustan Zinc Limited and 1,000 shares of the Grasim Industries Ltd. but not return to them. It is contended by the Ld. Advocate for Central Bank of India that by virtue of assignment agreement the name of Central Bank of India has been deleted and prays to strike out the Central Bank of India from the Misc. Application. Matter was heard on 17/03/2026 and Ld. Advocate for the Misc. Applicant submitted that they have requested Prudent ARC but the Prudent ARC did not release the shares of Applicants. Prayer in IA/2252/2024 by Central Bank of India is not sustainable as Central Bank of India has not assigned the shares to Prudent ARC. Central Bank of India cannot absolve its responsibility to return shares of the NDN Applicant. IA/2252/2024 is dismissed. Ld. Registrar is directed to register the NDN/ 700/2024(MA) as MA and issue notice.

Rina S. Date of the Order dated necessary After Registration of MA the Applicant is directed to serve notice along with copy of MA upon the respondents and file affidavit of service. The matter be listed before Ld. Registrar on 11/05/2026. (Ambuja Mohan Das) Presiding Officer