1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. NOTICE OF MOTION NO.55 OF 2008 IN SUIT NO.3167 OF 2007 Mrs.Suchitra Subhash Shetye & Ors. ...Plaintiffs. Vs. M/s. Parekh Holdings & Ors. ...Defendants. .... Mr. Rahul Narichania i/b. Madhuri Gaikwad for the Plaintiffs. Mr.R. D. Soni with Mr. D.F. Sharma and Ms. Uma Sharma for Defendant Nos.1, 2 and 3. ..... CORAM :DR.D.Y.CHANDRACHUD, J. January 10, 2008. P.C.: At the hearing of the Notice of Motion, Counsel appearing on behalf of the Plaintiffs and Counsel appearing on behalf of Defendant Nos.1, 2 and 3, who are signatories to the Consent Terms (Exh.B-2) state that the following order may be passed by consent, on the instructions of the parties and in view of the following agreed terms no reasons need to be recorded : 1. The Plaintiffs and Defendant Nos.1, 2 and 3 shall through the Learned Advocates, fix a joint meeting with Shri S.P. Rao of 2 Poonager Bilimoria & Co., the Valuer who has submitted his report of valuation dated 20th December 2007 in pursuance of the Consent Terms recorded by the Court on 13th September 2007. The valuer will be requested to arrange a meeting with the Advocates for the respective parties expeditiously and preferably within a period of two weeks from today; 2. At the meeting, it would open to Defendant Nos.1, 2 and 3 to bring to the notice of the Valuer the contentions of the aforesaid Defendants with regard to the valuation made in the report dated 20th December 2007. The objections to be raised shall be confined to what is contained in the affidavit in support of the Notice of Motion; 3. Upon hearing the parties through their respective Advocates, the valuer will determine as to whether any modification is warranted in the valuation which was determined by the report dated 20th December 2007. A communication shall thereupon be addressed to the respective Advocates; 3 4. Defendant No.1, 2 and 3 have furnished two Demand Drafts in the total sum of Rs.1,55,45,328/- to the Counsel appearing on behalf of the Plaintiffs. An additional Demand Draft in the amount of Rs.30 lakhs shall be handed over to Counsel for the Plaintiffs on or before 14th January 2008. 5. Defendant Nos.1, 2 and 3 agree and undertake to deposit an amount of Rs.1,09,38,672/- being the difference between the valuation as presently determined (Rs.2,94,84,000/-) and what is agreed to be paid in the meantime, (Rs.1,85,45,328/-), with the Prothonotary & Senior Master on or before 28th January 2008; 6. The determination made by the valuer in pursuance of the aforesaid direction shall be final and acceptable to both the parties in terms of the provisions contained in clause 5(iii)(d) of the earlier Consent Terms. 7. Upon the final determination being made by the valuer, the Plaintiffs would be at liberty to withdraw such part of the amount 4 deposited with the Prothonotary & Senior Master as may be due, based upon the final valuation made in terms of the above directions and the balance, if any, shall be refunded to Defendant Nos.1, 2 and 3; 8. Parties shall abide by the undertaking not to separately contact or communicate with the valuer as envisaged in the original Consent Terms; 9. The undertakings are accepted. The Notice of Motion is accordingly disposed of since no other submission is urged on either side in view of the agreed terms. ......