1 mgj IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Notice of Motion No. 16 of 2009 in Insolvency Petition No.32 of 2002 Manipal Finance Corporation Ltd. ..Petitioning Creditor and Jayant Manilal Doshi ..Insolvent and Sushila Gordhandas Parikh ..Applicant vs. Borivli Prashant Sadan Coop.Housing Society Ltd. ..Respondent Mr.Shukla with Mr.Anil P.Bagwe for applicant Ms.Merlya Monterior for respondent society Mr.Y.C.Pariky, O.A. Present. CORAM: S.J.KATHAWALLA J. 21st July, 2009 P.C. 1 This Notice of Motion is taken out by the applicant/auction purchaser seeking an order/direction against the respondent society i.e. Borivli Prashant Sadan 2 Cooperative Housing Society Ltd. to transfer the subject flat no.D-5 on the 3rd floor of the respondent society situated at Eksar Road, Borivli (West), Mumbai 400 092 without taking any transfer fee, premium, penalty and interest on the repair charges from the applicant. 2 According to the society, an amount of Rs.74,545/- is due and payable by the applicant. According to the applicant, no amount whatsoever is due and payable by the applicant to the society. It is the applicant s case that no transfer fees are due and payable to the society in view of section 115 of the Presidency Towns Insolvency Act,1909. He also submits that he has already paid all the arrears of outgoings etc. and, therefore, the question of paying any interest/penalty does not arise. 3 I have heard the applicant as well as the respondent. I pass the following 3 order on the notice of motion. i) The applicant shall, within a period of four weeks from today, pay an amount of Rs.55,000/- to the respondent society in full and final settlement of the respondent s claim towards transfer fees, arrears pertaining to repair charges/ interest/ penalty. ii) Upon receipt of the said payment of Rs.55,000/- from the applicant, the respondent society shall transfer the flat in the name of the applicant within a period of one week therefrom. Iii) Thereafter the only liability of the applicant would be to pay the monthly bills issued by the society to the applicant. 2 In view of the above, notice of motion is disposed of with no order as to costs. (S.J.KATHAWALLA J.) 4