SCA/7679/2008 2/ 2 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD SPECIAL CIVIL APPLICATION No. 7679 of 2008 ========================================================= GUJARAT AGRO CHEMICALS MANUFACTURING COMPANY - Petitioner(s) Versus THE MANEKCHAWK CO OPERATIVE BANK LTD - Respondent(s) ========================================================= Appearance : MR PS PATEL for Petitioner(s) : 1, NOTICE SERVED BY DS for Respondent(s) : 1, MR TS NANAVATI for Respondent(s) : 1, ========================================================= CORAM : HONOURABLE MR.JUSTICE JAYANT PATEL Date : 18/09/2008 ORAL ORDER
Mr.T.S.Nanavati,
appearing on behalf of the respondent Bank states that if the
petitioner makes the payment of Rs.13,00,616/- and Rs.94,000/-
within 10 days (out of which Rs.94,000/- being towards the amount of
shares of the petitioner not given credit by the Bank at present,
but deposited without prejudice to the rights of the petitioner to
claim after merging process is over), the respondent Bank shall
treat the payment as full and final settlement of all dues of the
petitioner Company and accordingly, the respondent Bank shall issue
No Due Certificate and return all the original papers of the
aforesaid property of the petitioner, placed at the time of deposit
of title deeds within 1 week after the payment.
He
further states that the petitioner Company shall be entitled to
claim only encashment of shares of Rs.94,000/- upon completion of
merger process of the respondent Bank with Abhyoday Bank.
In
view of the above, the learned counsel for both the sides state that
their respective clients shall abide by the declaration made before
this Court.
In
view of the above, Mr.Joshi, appearing with Mr. Patel for the
petitioner does not press the present petition.
Disposed
of as not pressed.
(JAYANT PATEL, J.)
*bjoy