Mr. Ashis Kumar Chakraborty, J. - (1.) In this application, the decree holder in the admiralty suit has prayed for a direction upon the learned Registrar, Original Side of this Court to pay the money realised on en-cashment of the bank guarantee furnished as security in the admiralty suit, for its nominated foreign account in compliance with the applicable laws and towards satisfaction of the decree passed in the suit.
(2.) It appears that on June 6, 2000, a learned Single Judge of this Court passed an order in the admiralty suit directing arrest of the vessel M.V. Nikolaos-S along with her tackle, apparel and furniture. Subsequently, on June 20, 2000 an order was passed for vacating of the order of arrest of the vessel, subject to a bank guarantee or letter of guarantee for a sum of Rs. 45,43,663.92/- being furnished, on behalf of the owner of the vessel, to the learned Registrar, Original Side of this Court. In terms of the said direction, a bank guarantee of Rs. 45,43,663.92/- was furnished by MJR Steels Pvt. Ltd. an Indian Company, which allegedly purchased the vessel from Fair-steel Corporation, Singapore the original owner, to the Registrar, Original Side of this Court and the order of arrest dated June 6, 2000 stood vacated The said MJR Steels Pvt. Ltd. filed the written statement and contested the suit. By a judgement dated April 28, 2005, the admiralty suit was decreed against the said vessel for US $ 94,611.25 equivalent to in Indian Currency of Rs. 42,47,500/-, together with interest accrued upon the deposit with the learned Registrar, Original Side to the plaintiff. Against the said judgement and decree, the said MJR Steels Pvt. Ltd. filed an appeal, being APD No. 244 of 2005, before the Division Bench of this Court. By a judgement dated September 13, 2006, the Division Bench of this Court set aside the judgement and decree dated April 28, 2005 passed by the learned Single Judge. The plaintiff carried the said judgement dated September 12, 2006 passed by the Division Bench before Supreme Court, by filing a Special Leave Petition being Civil Appeal No. 193 of 2008. By a judgement dated September 14, 2017 the Supreme Court allowed the said appeal by setting aside the judgement of the Division Bench and restoring the judgement and decree dated April 28, 2005 passed by the learned trial Judge.
(3.) The said bank guarantee furnished by MGR Steels Pvt. Ltd. in favour of the Registrar, Original Side of this Court has been extended till June 27, 2018. The plaintiff-decree holder, which is a company incorporated under the appropriate laws of Liberia, by its letter dated September 16, 2017 informed the learned Registrar, Original Side of this Court that it has authorised the Advocate-on-Record representing it in the suit to receive all funds and remittance against the en-cashment of the bank guarantee towards satisfaction of the decree passed in the suit in its favour, who would receive the same in its bank account in trust for the plaintiff/decree holder and thereafter remit the same to the nominated bank account outside India.;