Gujarat High Court Case Information System
Print
SCA/7699/2008 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
SPECIAL
CIVIL APPLICATION No. 7699 of 2008
=========================================================
M/S
ARYA DYEING & PRINTING (P) LTD - Petitioner(s)
Versus
GUJARAT
STATE FINANCIAL CORPORATION & 4 - Respondent(s)
=========================================================
Appearance
:
MR
TUSHAR L SHETH for
Petitioner(s) : 1,
NOTICE SERVED for Respondent(s) : 1 - 4.
MR
AS ASTHAVADI for Respondent(s) : 1,
MR RAVINDRA SHAH for
Respondent(s) : 5,
MRS KANAN R SHAH for Respondent(s) :
5,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
Date
: 22/09/2008
ORAL
ORDER
Mr.Kavina
with Mr.Sheth, learned Counsel appearing for the petitioners, states
that the petitioner Company, without prejudice to the rights and
contentions in the present petition, shall deposit the amount of
Rs.24,69,496/- within one month and further amount of Rs.13,32,030/-
towards interest at the rate of 14% p.a., for the delay within a
period of one month thereafter.
Prima
facie it appears that the settlement was acted in part and
thereafter there was delay in making the payment, which has resulted
into the present litigation. Therefore, if the aforesaid amount is
deposited by the petitioners with interest for delay, no prejudice
will be caused. Ultimately this Court may finally rule upon Gujarat
State Financial Corporation (hereinafter referred to as ‘GSFC’) to
abide by the settlement. However, if the petition is dismissed, the
amount can be returned to the petitioner. But pendeny of this
petition may not result into loss of interest to GSFC, if ultimately
the amount is recoverable.
Hence,
Rule.
By
interim order, it is directed that the interim relief shall continue
on condition that the petitioner deposits the amount of
Rs.24,69,496/- within one month from today and further amount of
Rs.13,32,030/- within one month thereafter with
GSFC. After the amount is deposited, it will be open to either side
to move this Court for final hearing of the matter.
22.9.2008 (Jayant
Patel, J.)
vinod
Top