pvr 1 WP1133-10 IN THE HIGH COURT JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO.1133 OF 2010 IN COMPANY PETITION NO.266 OF 2003 1(a) Smt.Shanta Krishna Gaikwad & ors. ...Appellants vs. M/s.Peerless Construction Pvt.Ltd. ...Respondents --- Mr.Gaurav Joshi i/b. Mr.V.T.Lulia, for Appellants. Mr.D.D.Madan, Sr.Advocate i/b. Mr.Jose George, for Respondent. --- CORAM: D.K.DESHMUKH & N.D.DESHPANDE,JJ. DATED: 3rd December, 2010 P.C.: Admit. By consent of parties, the appeal is disposed of in the following terms. Mr.Gaurav Joshi, the learned Counsel appearing for pvr 2 WP1133-10 Appellants states that he has been authorised to give consent for disposal of the appeal in these terms by the Appellant no.1(e) Mr.Rajesh K.Gaikwad who holds power of attorney on behalf of all the Appellants. (i) The order impugned in the appeal is set aside. The Company Petition in which that order is passed is disposed of. (ii) The Respondent-Company shall ascertain what is the exact amount that lies in deposit with the Court (an amount of Rs.10,00,000/- was deposited in the Court by the Respondent pursuant to the order of the Appeal Court dated 25.11.2004. (iii) Within a period of three weeks from today, the Respondent shall communicate to the learned Advocate appearing for Appellants the exact amount that lies in deposit with the Court and also the additional amount that has to be pvr 3 WP1133-10 paid by the Respondent-Company for making the total amount at Rs.16,00,000/- (Rupees Sixteen lakhs only.) and the copy of the conveyance that Respondent-Company wants the Appellants to execute in its favour. (iv) Any suggestion or modification that the Appellants want in the draft conveyance shall be communicated to the Respondent-Company within a period of one week from the date of receipt of the draft. Thereafter, the draft of the conveyance shall be finalised by the parties and on the Respondent-company paying total amount of Rs.16 lakhs after taking into consideration the amount that lies in deposit in this Court, the Appellants shall execute conveyance in favour of Respondent-Company on an agreed date. (v) On the Appellants producing proof, before the Prothonotary & Sr.Master of this Court, of execution of conveyance in favour of the Respondent-Company, the Prothonotary & Sr.Master pvr 4 WP1133-10 of this Court shall permit the Appellants to withdraw the amount that lies in deposit in this Court. (vi) In case, the Appellants do not execute the conveyance as agreed, the Respondent-Company shall deposit the balance amount in this Court to make total amount of deposit in this Court at Rs. 16 lakhs and then the Prothonotary & Sr.Master of this Court shall be entitled to execute conveyance on behalf of the Appellants in favour of the Respondent-Company. In that event, on an application made by the Appellants, the amount lying in deposit shall be permitted to be withdrawn by them. (vii) In case, the Respondent-Company does not, as directed above, pay the balance amount to the Appellants and get the conveyance executed, the Appellants shall be at liberty to withdraw the amount of Rs.10,00,000/- deposited by the Respondent-Company with accrued interest and pvr 5 WP1133-10 shall also be entitled to institute such legal proceedings against the Respondent-company as it may be entitled to do in the law. The appeal is disposed of. Notice of motion no.3266 of 2010 is also disposed of. (D.K.DESHMUKH,J.) (N.D.DESHPANDE,J.)