Vessel m.t. Pratibha Neera re-arrested at Visakhapatnam also ordered to be auction sold by the Bombay High Court alongwith vessel m.t. Pratibha Tapi

The Admiralty Judge the Hon'ble Mr. Justice S.J. Kathawalla of the Bombay High Court on June 19, 2013, at the behest of a Singapore based ship chandelling company Avalontec Singapore Pte Ltd ordered arrest of the motor tanker vessel Pratibha Neera lying at Visakhapatnam Port, vessel owned by Pratibha Shipping Co Ltd for unpaid dues. The Admiralty Judge Mr. Justice S.J. Kathawalla on June 20, 2013 ordered auction sale of two vessels m.t. Pratibha Tapi and m.t. Pratibha Neera both owned by Pratibha Shipping Co Ltd

Mumbai, Maharashtra, June 24, 2013 /India PRwire/ -- The Admiralty Judge the Hon'ble Mr. Justice S.J. Kathawalla of the Bombay High Court on June 19, 2013, at the behest of a Singapore based ship chandelling company Avalontec Singapore Pte Ltd ordered arrest of the motor tanker vessel Pratibha Neera lying at Visakhapatnam Port, vessel owned by Pratibha Shipping Co Ltd for unpaid dues.

Avalontec from the year 2010 to 2012 made numerous supplies and services to vessels owned by Pratibha Shipping Co. Ltd that remained unpaid, therefore filed an Admiralty suit seeking arrest of the vessel m.t. Pratibha Neera at Goa, an order for arrest of the vessel was passed by the Admiralty Judge S.J. Kathawalla on September 25, 2012, the vessel was arrested on the same day.

The owner of the vessel Pratibha Shipping Co Ltd initiated settlement dialogue with Avalontec and executed a Settlement Agreement on October 9, 2012 and made a part payment of SGD 89,795.05 on the same day, it was agreed that SGD 90,076.91 and SGD 1798.72, being the balance amount was to be paid on or before November 20, 2012 and that Avalontec to make an application to the Bombay High Court to vacate the arrest of the vessel m.t. Pratibha Neera and that the Admiralty Suit would be withdrawn only on full and final payment. Accordingly, an order of release of the vessel was obtained from the Admiralty Judge of the Bombay High Court on October 9, 2012; The vessel m.t. Pratibha Neera lying at Marmugao Port at Goa was released that sailed out of Indian waters.

The vessel returned back to Visakhapatnam Port at Andhra Pradesh in January 2013. She was arrested by the Bombay High Court by two other claimants in different suits being Indian Register of Shipping by their Advocate Ms. S. Priya of S. Venkiteshwaran Chamber and a Singapore based ship chandler Pacific Ship Supplies Pte Ltd by their Solicitors, Brus Chambers on January 29, 2013 and April 17, 2013 respectively.

Pratibha Shipping Co Ltd failed to make the agreed payment of the final tranche of SGD 90,076.91 and SGD 1798.72 before November 20, 2012, Avalontec had a maritime claim and was entitled to proceed in rem against the vessel m.t. Pratibha Neera made an application for re-arrest of the vessel on June 19, 2013 to the Admiralty Judge Mr. Justice S.J. Kathawalla of the Bombay High Court, who after hearing counsel allowed arrest of the vessel lying at Visakhapatnam Port. The vessel was arrested on June 19, 2013 also the acting Deputy Sheriff of Mumbai issued a letter on June 20, 1013 to Visakhapatnam Port and Customs for arrest of the ship also requesting not to issue port clearance certificate.

The Admiralty Judge Mr. Justice S.J. Kathawalla on June 20, 2013 ordered auction sale of two vessels m.t. Pratibha Tapi and m.t. Pratibha Neera both owned by Pratibha Shipping Co Ltd in an action filed by Indian Register of Shipping. The vessel m.t. Pratibha Tapi is to be towed from Mumbai anchorage to anchorage at Alang ship breaking yard at Gujarat and this vessel will be auction sold first due to her unseaworthy condition while m.t. Pratibha Neera will be auctioned thereafter. The auction sale will be conducted by the Sheriff of Mumbai after inviting intended bidders by advertisements.

Solicitor Shrikant Hathi of the law firm Brus Chambers acting against the vessel m.t. Pratibha Neera said that 'the auction sale of both the vessels will minimise the loss or damage and serve the interests of all concerned parties and it is just, fair, equitable and absolutely necessary that the vessels to appraised and sold at the interlocutory stage. Pratibha Shipping Co Ltd have lots of debts and are in a financially embarrassing position and they are unable to clear dues and have no motivation in securing her release by putting up security and are not in a position to pay their debts and secure the release of the vessels. Moreover, with every passing day, there is progressive diminution in the value of both the vessels. It is also very likely that the vessels may suffer damage or collide due to neglect'.

Notes to Editor

www.bruschambers.com


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