1 jpc/- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 1024 OF 2009 Vijay Jain .. Petitioner Versus Eros Multimedia Pvt. Ltd. .. Respondent Ms. Monica Parikh for the Petitioner Mr. Janak Dwarkadas, Senior Advocate with Mr. Akshay Patil i/by Mr. R. M. Azim for the Respondent Company. CORAM : S. J. KATHAWALLA, J. DATE : 7th April, 2010 P.C.: The following order is passed by consent of the parties. i. The security deposit of the sum of Rs.24,00,000/- and the sum of Rs.30,60,000/-to talling to Rs.54,60,000/- paid under the Leave and Licence Agreements dated 18th July, 2007 and 3rd September, 2007 respectively shall stand appropriated towards the licence fee which is Rs.4,00,000/- and Rs.5,10,000/- respectively per month plus service tax applicable at the rate of 10.3% on the licence fee, for the months of August, 2009 till December, 2009 amounting to Rs.50,18,650/- (TDS to be deducted). The arrears of Service Tax for the months of May, June and July, 2009, amounting to Rs.2,81,190/- shall also be 2 appropriated from the Security deposit. The balance sum of Rs. 1,60,160/- payable shall be paid with the payments to be made under clause- iii hereunder. ii. It is clarified that on account of the appropriation of the security deposits as above, there shall be no refund of the security deposit as stated in paragraphs 3(1) and 10 of the Agreements. The Agreements to stand amended to that extent in view of this term. iii. Licence fee (inclusive of service tax) for the months of January, 2010 to April, 2010 amounting to Rs.40,14,920/- (after adjusting the balance of deposit from Clause 1), the sum of Rs.38,54,760/- being the balance towards service tax above, shall be paid by the Respondent Company to the Petitioner within one week from the date hereof. iv. The Respondent Company undertakes to this Court that it shall continue to pay to the petitioner the licence fees (inclusive of service tax) of Rs.10,03,730/- per month payable under the aforesaid agreements from May, 2010 onwards until the date of expiry of the aforesaid two Agreements. v. The Respondent Company undertakes to handover to the petitioner quiet, vacant and peaceful possession of the licensed premises as per the terms and conditions contained in the said two agreements i.e. on 17th July, 2010 and 2nd September, 2010. 3 vi. Disputes between the Petitioner and the Respondent Company with regard to the validity of the termination of the said two Agreements, claim towards property tax, claim of liquidated damages, as well as interest on service tax, if any, shall be adjudicated in appropriate proceedings to be initiated by the Petitioner. vii. The petitioner shall forthwith write a letter to SEBI and the Merchant Bankers intimating them that the petitioner does not wish to press or pursue the letter dated 8th January, 2010 with respect to Draft Red Herring Prospectus (DRH) issued by the Respondent Company. viii. The Petitioner shall provide to the Respondent Company the service tax challans as a proof of payment of service tax in support of the claim of service taxes. ix. Electricity Bill of the premises shall be paid by the Respondent Company as per the bills issued by Reliance Energy in respect of the licensed premises until the date of vacation of premises as per Agreement being 17th July, 2010 and 2nd September, 2010. x. The undertakings given by the Respondent Company are accepted. xi. The Company petition is accordingly disposed of. (S. J. KATHAWALLA, J.)