1 jpc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 203 OF 2010 M/s Sowil Ltd. .. Petitioner Versus Unity Infraprojects Ltd. .. Respondent Mr. Amrish Gajbhiye i/by M/s S. Ashwinikumar & Co. for the Petitioner Mr.Chetan Kapadia a/w Mr.Saket More i/by Vidhi Parmar for the Respondent CORAM : S. J. KATHAWALLA, J. DATE : 30 th September, 210 P.C.: 1. The learned Advocates appearing for the parties, after taking instructions from their respective clients have agreed to the following order being passed in the matter. i. The Respondent Company shall deposit an amount of Rs. 11,50,000/- (Rupees elven lacs fifty thousand only ) with the Prothonotary and Senior Master of this Court within a period of four weeks from today and shall forthwith inform the Petitioners and their Advocates, in writing, that the said amount has been so deposited. 2 ii. The Petitioners shall file a Suit as regards the subject matter of this petition within a period of four weeks from the receipt of written communication from the Advocate for the Respondent Company to the effect that they have deposited the said amount as set out in clause (i) of this order. iii. Upon filing of the Suit, the Prothonotary and Senior Master shall transfer the said amount of Rs.11,50,000/- to the suit account and shall invest the said amount in a nationalised bank for a period of one year at a time. However, the direction to invest the said amount would be subject to any ad-interim/interim orders passed in the suit filed by the petitioner. iv. The Petitioner shall be at liberty to take out appropriate proceedings seeking ad-interim/interim reliefs including the reliefs seeking withdrawal of the said amount of Rs.11,50,000/- in the said suit which will be decided on its own merits. v. In the event of the Petitioner failing to file a Suit as set out in clause- (ii) above, the Respondent Company, after giving written notice to the Petitioner and their Advocates, shall be entitled to withdraw the said amount of Rs.11,50,000/- deposited with the Prothonotary and Senior Master of this Court. 3 vi. In the event of the Respondent Company failing to deposit an amount of Rs.11,50,000/- as set out in Clause (i) above, the Company Petition shall, without reference to this Court, stand revived, admitted, made returnable within six weeks of default and advertised in two local newspapers i.e. Free Press Journal (in English) and Maharashtra Times (In Marathi) and Maharashtra Government Gazette. vii. Upon such default, the Petitioners shall, within one week from the date of default, deposit with the Prothonotary and Senior Master, a sum of Rs. 10,000/- (Rupees ten thousand) towards publication charges, failing which the Company Petition shall stand dismissed for want of prosecution. viii. The learned Advocate appearing for the Petitioner undertakes on behalf of the Petitioner to withdraw the letters dated 10th July, 2010 (Exh.C1 and C2 to the reply filed by the Company) within one week from today. The undertaking is accepted. 2. The Company Petition is accordingly disposed of with no order as to costs. (S. J. KATHAWALLA, J.)