1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.3337 OF 2007 Suhas Madhukar Mandavkar and Anr. .. Petitioner Versus Vyankatesh Coop.Credit Socy. Ltd. and Ors. .. Respondents Mr.P.D.Dalvi for petitioner Mr.Sanjay Prabhu h/for N.V.Bandivadekar for respondents Ms.Mhaispurkar, A.G.P. for State. CORAM : S.C.DHARMADHIKARI, J. DATE : 11th January 2008 P.C. . Ad-interim orders passed by this Court in this petition record a statement of the petitioners wherein they admit their liability to certain extent in respect of recovery certificate in question. 2. On the last occasion, the matter was 2 adjourned to enable Mr.Dalvi to take instructions. Mr.Dalvi states that an amount of Rs.75,000/- has already been deposited with the first respondent society. That fact is confirmed by the learned Advocate for first respondent. 3. The matter was placed today to enable the parties to arrive at some figure so that the recovery certificate can be marked satisfied and the petitioners would be absolved of their liability thereunder. 4. After the matter was argued for some time as against original demand, parties agree that upon deposit of further sum of Rs.2,50,000/- by the petitioners, first respondent would mark the recovery certificate as fully satisfied and thereafter both sides would have no claims against each other. Mr.Dalvi states that the petitioners are agreeable to pay this sum provided some reasonable time is granted. He 3 makes this statement in the presence of petitioner No.1 who is present in court. Mr.Bandivadekar appearing for first respondent confirms this and states that the instructions are received from first respondent to accept this sum provided the amount is deposit as early as possible. 5. The recovery certificate has been issued long time back. Amounts are outstanding for quite some time. In such circumstances, interest of justice would be sub-served if the following order is passed:- (a) Upon petitioners depositing with first respondent a sum of Rs.2,50,000/- within sixteen weeks from today, the first respondent society to mark the recovery certificate fully satisfied and thereafter, both sides would have no claims against each other. Respondent 4 No.1 to issue no dues certificate in favour of petitioner. To enable petitioner to deposit the said sum of Rs.2,50,000/- no coercive measures should be initiated by the first respondent for 16 weeks from today. (b) No further extension would be granted and in the event of default by the petitioner, petition stands dismissed. Thereupon the society is at liberty to adopt such proceedings as are permissible to recover the amount under the recovery certificate or the balance thereunder with interest. (c) Petition disposed of with the aforesaid directions. 5 (S.C.Dharmadhikari, J)