Authority: High Court at Calcutta

Order Date: 01.10.2026

Case Overview

  • Parties: Jet Setters Ltd (plaintiff, travel‑agency business, registered office 181A, Chittaranjan Avenue, Kolkata‑700007) vs Rakshamata Commotrade Pvt Ltd & others (defendants). Suit filed under Order XXXVII of the Code of Civil Procedure seeking a decree for Rs 5,42,41,000 plus interest and consequential reliefs.
  • Loans Advanced: Plaintiff advanced a total of Rs 8,93,50,000 to Defendants No.1‑4:
  • Rs 4,31,50,000 to Defendant No.1
  • Rs 1,82,50,000 to Defendant No.2
  • Rs 1,80,00,000 to Defendant No.3
  • Rs 50,00,000 to Defendant No.4
  • An additional Rs 50,00,000 was lent to Defendant No.2 on 08/03/2014.
  • Property Transaction: Defendant No.1 owned property at 2, Gagan Sarkar Road, Kolkata‑700010, agreed to be sold to the plaintiff for Rs 4,00,00,000. A Board Resolution dated 30/12/2013 was produced. Plaintiff paid Rs 2,00,00,000 of the consideration and retained nine original title deeds as collateral security.
  • Cheque Issue: Defendants handed over various cheques and requested the plaintiff not to encash them. The plaintiff did not deposit the cheques, which subsequently became stale, but their existence was taken as evidence of liability.
  • Interest Rate: Defendant No.2 represented that interest at 2% per month would be charged on the money lent.
  • Counter‑claim by Defendant No.1:
  • In September 2014, Defendant No.1 (a closely held family company) transferred its shares to Manoj Kumar Tiberwals and his family, who assumed control from 01/09/2014.
  • It was alleged that for tax‑saving purposes, funds were periodically transferred to the plaintiff and entities of the Saraf family; a sum of Rs 2 crore was paid by the plaintiff to Defendant No.1 in December 2013, with the last payment from Defendant No.1 to the plaintiff on 06/08/2014.
  • The plaintiff had paid only Rs 2,00,00,000 out of the Rs 4,00,00,000 purchase price for the Gagan Sarkar Road property and retained the nine title deeds.
  • The counter‑claim sought a mandatory injunction directing the plaintiff to return the nine title deeds (as detailed in Para 39 of the written statement).

Procedural History

  • The suit was initially decreed against the defendant on 21 Nov 2017.
  • The defendant later applied for leave to defend; Defendant No.1 filed a counter‑claim and the plaintiff was given an opportunity to file an additional written statement, which the plaintiff failed to do.
  • Consequently, the plaintiff's suit was dismissed for default, and the counter‑claim was heard ex parte on 07 Nov 2025.
  • Evidence admitted showed the share transfer to the Tiberwals, the retention of the nine original title deeds by the plaintiff, and that the plaintiff had paid Rs 2,00,00,000 of the Rs 4,00,00,000 purchase price.
  • The court noted that the plaintiff had abandoned its claim regarding the remaining Rs 2,00,00,000 and that the statutory limitation period had expired, rendering further claim untenable.

Final Outcome

  • The court ordered Jet Setters Ltd to hand over the nine original title deeds mentioned in Para 39 of the written statement within 30 days from the drawing up of the decree.
  • In case of default, the defendant shall be at liberty to commence execution proceedings.
  • The suit stands disposed, and the decree is to be drawn up.

Topics: Civil Litigation, Property Dispute