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MCA/1197/2010 4/ 4 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
MISC.CIVIL
APPLICATION - FOR DIRECTION No. 1197 of 2010
In
SPECIAL
CIVIL APPLICATION No. 3914 of 2004
=========================================================
THE
CITY CO OPERATIVE BANK LTD - Applicant(s)
Versus
DOSHI
CHEMICALS PVT LTD & 8 - Opponent(s)
=========================================================
Appearance
:
VIRAL
K SHAH for
Applicant(s) : 1,
NOTICE SERVED BY DS for Opponent(s) : 1 - 9.
MR
PANDYA, AGP for Opponent(s) : 3,
MR DHARMESH V SHAH for
Opponent(s) : 8,
MR SN THAKKAR for Opponent(s) :
9,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
Date
: 29/07/2010
ORAL
ORDER
The
present application is for seeking withdrawal of the amount of Rs.20
lac lying with this Court, deposited by respondent No.1 pursuant to
the directions issued by this Court.
Heard
Mr.Shah, learned Counsel for the applicant. Respondents No.1, 2, 4,
and 9 are served. Mr.Pandya, learned AGP appears for respondent
No.3 and Mr.S.N. Thakkar, learned Counsel appears for respondent
No.7 and he states that he has no objection if the amount is
permitted to be withdrawn to the applicant.
Mr.Shah,
learned Counsel for the applicant further states that Mr.Dharmesh V.
Shah, who is appearing for respondent No.8 has conveyed to him that
Suryapur Cooperative Bank Limited has no objection for such
withdrawal.
The
basis of the present application is the settlement arrived at
between the applicant Bank and Doshi Chemicals Pvt. Ltd., respondent
No.1 and Pragati Alcochem Pvt. Ltd., respondent No.7. A copy of the
settlement is produced on record.
Further,
the learned Counsel for the applicant has placed on record a copy of
the order dated 22.3.2010 passed by the Apex Court in Special Leave
to Appeal (C) Nos.11898-11902 of 2007, wherein
the following has been passed :-
” Subsequent
to the impugned order, parties have entered into a Memorandum of
Understanding (MoU) on 5th February, 2010. Since the MoU
contemplates sale of the assets, nothing survives in these Special
Leave Petitions, except to take the MoU on record. The MoU is,
accordingly, taken on record. Sale to be conducted in terms of the
MoU.
Special
Leave Petitions are disposed of in terms of the MoU.
Receiver
to be paid a further amount of Rs.10,000/- towards his fees and
he, accordingly, stands discharged.”
The
aforesaid shows that the Special Leave Petitions stand
disposed of. The learned Counsel for the applicant states that the
MoU is the same, which is produced before this Court in the
proceedings of the present application on page 14. As per Clause
No.2 of MoU, the amount of Rs.20 lac is lying with this Court to be
given to the applicant bank, upon agreement by respondent No.1 and
other parties to give consent. The authority letter is also
produced on page 12.
No
other adverse circumstances are brought to the notice of this Court.
Under
these circumstances, the applicant shall be permitted withdrawal of
Rs.20 lac on production of ‘No Objection’ letter from Mr.Dharmesh V.
Shah for respondent No.8. The amount shall be paid by ‘Account
Payee’ cheque to the applicant.
The
applicant is disposed of accordingly.
29.7.2010 (Jayant
Patel, J.)
vinod
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