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SCA/8594/2008 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
SPECIAL
CIVIL APPLICATION No. 8594 of 2008
=========================================================
M/S
ZETEK PHARMACEUTICALS PVT LTD - Petitioner(s)
Versus
STATE
BANK OF INDIA - Respondent(s)
=========================================================
Appearance :
MR
SP MAJMUDAR for Petitioner(s) : 1,
MR PRANAV G
DESAI for Respondent(s) :
1,
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CORAM
:
HONOURABLE
MR.JUSTICE JAYANT PATEL
Date
: 11/09/2008
ORAL
ORDER
Mr.Majmudar,
learned counsel appearing for the petitioner as well as Mr.Desai for
respondent Bank places on record the letter dated 29.07.2008 issued
by the respondent Bank for compromise offer and Mr.Majmudar states
that the said compromise is acceptable to the petitioner, except to
the extent that time to pay the amount of Rs.8,50,000/- instead of
30.09.2008 be given upto 30.12.2008
Mr.Desai,
learned counsel appearing for the respondent Bank states that he has
received oral instruction from the Manager of the Bank that if the
petitioner pays interest as per the prime lending rate over the
amount of Rs.8,50,000/- from 30.09.2008 till 31.12.2008, the Bank
shall abide by the said compromise offer.
Mr.Desai
states that the undertaking may be filed by the petitioner to abide
by declaration made as per the compromise read with the extension
upto 31.12.2008.
Mr.Majmudar
states that the undertaking shall be filed within one week.
In
view of the above, subject to the declaration recorded, the petition
is disposed of as not pressed. It is also agreed by the learned
counsel for both the sides that accordingly, the declaration shall
also be made at Debt Recovery Tribunal at appropriate time.
(JAYANT PATEL, J.)
*bjoy
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