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COMP/27/2011 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
PETITION No. 27 of
2011
=========================================================
M/S
LALWANI INDUSTRIES LTD - Petitioner(s)
Versus
SHAIFALI
ROLLS LIMITED - Respondent(s)
=========================================================
Appearance
:
MR
KUNAL P VAISHNAV for
Petitioner(s) : 1,
MR RUTVIJ S OZA for Respondent(s) :
1,
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CORAM
:
HONOURABLE
MR.JUSTICE K.M.THAKER
Date
: 23/08/2011
ORAL
ORDER
1. Mr.Jishnu
Chaudhary with Mr. Anirudh Agrawal with Mr. Vaishnav learned
advocates have appeared for the petitioner and Mr.Oza, learned
advocate has appeared for the respondent.
2. Mr.Oza,
learned advocate for the respondent has submitted that a sum of Rs.5
Lakhs, as per the understanding recorded in the previous order dated
11.8.2011 has been paid to the petitioner.
3.
Learned advocate for the petitioner admitted the said factual aspect.
He, however made grievance that though it was also agreed that the
respondent will make further payment and will also come-out with
reasonable time – table for clearing the entire outstanding amount,
any further payment has not been made and the time table which is
recently given does not reflect intention much less bonafides of the
respondent to clear petitioner’s dues. He made such grievance in view
of the fact that though until now there was no dispute with regard to
the principal amount, now, for the first time and that also after the
order dated 11.8.2011 the respondent has tried to raise dispute with
regard to principal amount as well. He referred to the reply
affidavit of the respondent wherein also any dispute with regard to
the principal amount has not been raised. He made reference of Second
and Third paragraphs of the order dated 11.8.2011 to emphasize that
even at that stage the petitioner never disputed the total
outstanding principal amount. In light of such submissions he tried
to contend that the respondent’s attempts are not bonafide.
4. Mr.Oza,
learned advocate for the respondent has, under the instruction of his
client submitted that the respondent undertakes to make payment of
sum of Rs.5 Lakhs on or before 31.8.2011 and will also forward, by
Email or Fax, fresh time – table giving the details about time by
which the respondent will clear entire outstanding amount i.e.
principal amount, since the dispute between the parties is regarding
demand for interest and the rate of interest. He further submitted
that the payment which is being made is in light of the facts of the
present case.
5. Having
regard to the said submission and also upon taking note of the
assurance given by the learned advocate for the respondent, under the
instruction of his client, that further amount of Rs.5 Lakhs will be
paid on or before 31.8.2011, further hearing of the
petition is adjourned to 2.9.2011.
(K.M.THAKER,J.)
Suresh*
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