Authority: Supreme Court of India
Order Date: 12-10-2026
Case Overview
- Petitioners: House of Dubary & Anr (appearing before the Court through senior advocates Mukul Rohatgi, Abhimanyu Bhandari, Gauhar Mirza, Abiha Zaidi, Pritam Raman Giriya, Divyangi Gupta, Ronit Rampuriya, Aryan Sarawgi).
- Respondents: Officer Liquidator of M/s Hanspa Knit (P) Ltd. & Others.
- Origin: The petition (Special Leave to Appeal, C No. 35972/2026) arises from the impugned final judgment and order dated 17-07-2026 passed by the High Court of Gujarat at Ahmedabad in FA No. 531/1986.
- Applications: IA No. 311735/2026 – exemption from filing copy of the impugned judgment; IA No. 311734/2026 – stay application.
- Key Allegation: Petitioners contend that the operative portion of the High Court’s order (paragraph 235) mistakenly treated the decreetal amount as accruing simple interest, whereas the fixed deposit (FD) earned compound interest, leading to an erroneous apportionment of the FD amount based on the reduced decreetal sum.
Order Details
1. The Court noted the petitioners’ submission that the High Court’s decree overlooked the distinction between simple interest on the decreetal amount and compound interest on the FD.
2. The Court held that, given the reduction of the decreetal amount by the High Court, the direction to apportion the FD amount on that reduced basis was inappropriate.
3. The Court directed that a notice be issued, returnable within six weeks, to address the matter.
4. Pending further directions, the amount currently invested in the Fixed Deposit shall remain invested and not be altered.
Final Outcome
- The Supreme Court issued a stay on the High Court’s apportionment of the Fixed Deposit, ordered the issuance of a notice within six weeks, and directed that the FD remain invested until the Court provides further instructions.
Topics: Court Order, Liquidation, Fixed Deposit Interest