1 914.chs.212.09.sxw ata IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION CHAMBER SUMMONS NO.212 OF 2009 IN EXECUTION APPLICATION NO.215 OF 2008 IN ARBITRATION REFERENCE NO.ARB KCB 51 OF 2004 The Kapol Coop Bank Ltd ..Claimant versus M/s.Laxmi Exports and ors ..Respondents and Viresh Naginbhai Rupasari ..Applicant v/s Sheriff of Bombay,High Court ..Respondent --------------------------------------- Mr.R.M.Haridas,for the Plaintiff. Mr.P.Thorat i/b K.P.Mali,for the Applicant CORAM: S.J.KATHAWALLA, J. DATED: APRIL 13, 2011 P.C. The following order is passed by consent of the parties : i) The applicant undertakes to pay an amount of Rs.35,00,000/- to the claimant bank within a period of 16 weeks from the date of this order and further undertakes not to seek any extension of time beyond the period of 16 weeks. The undertakings are accepted. 2 914.chs.212.09.sxw ii) The Applicant undertakes not to sell, dispose of, alienate, encumber create third party rights or part with possession of his 50% share in the suit flat until payment of the amount undertaken in clause (i) is made to the claimant. The undertaking is accepted. iii) Upon payment of the said amount as set out in clause (i) above the claimant shall have no claim of whatsoever nature in the Suit flat in Execution Proceedings or otherwise and the Applicant shall be the sole owner of the suit flat.. iv) In the event of the applicant failing to pay the said amount of Rs.35,00,000/- to the claimant as agreed and undertaken in clause (i) above, the claimant shall be free to proceed with the execution proceedings as regards the 50% share of the judgment debtor in the suit flat. v) In view of the above, the Execution proceedings qua the suit flat shall remain stayed for a period of 16 weeks from the date of this order. vi) The Chamber Summons is accordingly disposed of. ( S.J.KATHAWALLA, J ) 3 914.chs.212.09.sxw