AGK AGK AGK IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.830 OF 2008 M/s.Magna Colors Limited ..Petitioner. V/s. The Union of India & Others ..Respondents. Mr.V. Sridharan i/by Mr.Anil Balani for the Petitioner. Mr.P.A. Vyas with Mr.R.C. Master for the Respondents. CORAM : D.K. DESHMUKH & J.P. DEVADHAR, JJ. DATED : 24TH SEPTEMBER, 2008. P.C. : 1. Rule returnable forthwith. Heard finally by consent of both the parties. 2. Against the order passed against the Petitioner imposing penalty, he preferred an appeal before the tribunal. He made an application for dispensing with the predeposit. That application was decided by order dated 7-9-2007. It appears that the advocate appearing for the appellant was not present when the application was rejected. Therefore, an application was made for review / recalling of that order mainly on two grounds that the application was decided in absence of the advocate without hearing him and that there was certificate specifically issued by the R.B.I. That application was decided by order dated 19-12-2007 and the application was disposed of, however, seven days time was granted to the petitioner to deposit the amount. The amount was not deposited within that period and, therefore, by order dated 24-1-2008 for non-compliance of the condition of predeposit, the appeal itself was dismissed. 3. We have heard the learned counsel for the petitioner. The learned counsel appearing for the petitioner states that the petitioner is ready and willing to deposit an amount of Rs.5,00,000/- in this Court, without prejudice to the rights and contentions of the petitioner. The total amount is admittedly Rs.10,00,000/-. In our opinion, considering the facts and circumstances of the case, specially the certificate issued by the R.B.I. which was relied upon by the petitioner, it would have been appropriate for the tribunal to reduce the amount of predeposit. In our opinion, in view of willingness of the petitioner to deposit the amount of Rs.5,00,000/-, following order would meet the ends of justice. 4. In case the petitioner deposits an amount of rs.5,00,000/- in this Court with due notice to the respondents within a period of six weeks from today, order dated 24-1-2008 passed by the tribunal disposing of the appeal shall stand set aside. Similarly, the orders passed on the application for dispensing with the predeposit and for recalling of the order passed by the tribunal, which are impugned in the appeal, shall stand set aside. 5. The tribunal shall now decide the appeal after giving an opportunity of hearing to the petitioner in accordance with law. While disposing of the appeal on merits, the tribunal shall also make appropriate order about disposal of the amount which is deposited by the petitioner, pursuant to this order. 6. The Prothonotary & Senior Master, High Court, Mumbai shall invest the amount so deposited in Fixed Deposit in a nationalised bank for appropriate period. As observed above, disposal of the amount shall be governed by the order, that may be passed by the tribunal. 7. In case the petitioner fails to deposit the amount as directed above, this petition shall be treated as dismissed without any further reference to the Court. 8. Rule is made absolute in terms of this order. D.K. DESHMUKH, J. J.P. DEVADHAR, J.