1 wp-6964.10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 6964 OF 2010 M/s.Nayasa Exports Pvt.Ltd. ... Petitioner. V/s. The Union of India and others. ... Respondents. Prakash Shah i/b. Parag Shelke for the petitioner. Rohit Pardeshi for the respondents. CORAM : V.C.DAGA AND R.M.SAVANT, JJ. DATED : 6th October 2010. P.C. : Heard. 2. Rule, returnable forthwith. Mr.Pardeshi waives service for the respondents. Heard finally by consent of parties. 3. Looking to the consensus between the parties, the following order is passed: O R D E R (i) The petitioner shall execute a bond in favour of the Commissioner of customs, JNPT, 2 wp-6964.10 Nhava Sheva in the sum of Rs.3,36,02,292/- together with a bank guarantee in the sum of Rs. 1,68,00,000/- in favour of the President of India through the Commissioner of customs, JNPT, Nhava Sheva. Upon petitioner’s executing bond and bank guarantee, their bank account would be provisionally released. The respondents shall forthwith withdraw the letter dated 15th December, 2009 and inform the Union Bank of India, Mohd Ali Road Branch, Mumbai to permit the petitioner to utilize the amount standing to the credit of the petitioner in their account with the said bank and permit the petitioner to carry on the banking transactions without any impediment. (ii) The respondents are directed to process and decide the pending drawback claims expeditiously, in any event, not later than two months from today and deposit the amount of drawback, if any, sanctioned, in this Court within two weeks under intimation to the petitioner. The said deposit shall be subject to further orders of this Court. (iii) If show cause notice is issued before 24th December, 2010, the bond and bank guarantee shall remain valid, subject to the final outcome of the adjudication proceedings. If no show cause notice is issued by the respondents on or 3 wp-6964.10 before 24th December, 2010, the respondents shall forthwith return the bond and bank guarantee to the petitioner duly discharged and the petitioner shall be entitled to withdraw the amount, if any, deposited in this Court. (iv) Petition is, accordingly, disposed of. Rule is made absolute in terms of this order with no order as to costs. (R.M.SAVANT, J.) (V.C.DAGA J.)