1 IN THE HIGH COURT OF JUDICATURE OF BOMBAY IN THE HIGH COURT OF JUDICATURE OF BOMBAY IN THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.294 OF 2007 Samsung India Electronics Pvt.Ltd. ..Petitioner. V/s. Videocon Industries Ltd. ..Respondent. Mr.S.U.Kamdar a/w Hemant Sethi i/b. Hemant Sethi & Co. for Petitioner. Mr.Virendra Tulzapurkar a/w.R.D.Soni i/b. Ram & Co. for respondent. CORAM: A.M.KHANWILKAR,J CORAM: A.M.KHANWILKAR,J CORAM: A.M.KHANWILKAR,J DATE : FEBRUARY 5, 2008. DATE : FEBRUARY 5, 2008. DATE : FEBRUARY 5, 2008. P.C. : P.C. : P.C. : 1. Heard Counsel for the parties. Having considered rival submissions and going through the relevant clauses in the agreement as well as documents, the same establishes the payment position between the parties from time to time. Today as the Counsel for both the sides request that no reasons be recorded, which may inevitably affect the outcome of the proceeding taken out by the parties for recovery of their respective dues, one way or the other, I would proceed to record the operative order only. 2. It is ordered that the Respondent shall deposit sum of Rs.1,44,00,000/-(Rs.One Crore Forty 2 Four Lakhs only) in this court within six weeks from today, which amount shall stand transferred to the suit account of the suit filed by the Petitioner being Summary Suit No.3036 of 2007. In case, the Respondent deposits the amount in time as aforesaid, the present Petition will stand disposed off. 3. In the event, the Respondent fails to deposit aforesaid amount in time, the Petition shall stand admitted on expiry of the specified time without further reference to the Court. In that case, the Petitioner would be free to issue publication about admission of the Petition. Petitioner shall advertise the admission of the Petition in two local news papers, namely, "Free Press Journal", "Navshakti" and in the Maharashtra Government Gazette. The Petitioner shall deposit an amount of Rs.10,000/- with the Prothonotary & Senior Master towards the publication charges, within three weeks thereafter with intimation to the Company Registrar. 4. The amount to be deposited by the Respondent be transferred to the suit account on the next Court working day, whereafter it will be open to the parties to apply for appropriate order in the said suit regarding investment or disbursal thereof, as 3 the case may be. 5. It is made clear that pending proceedings between the parties will be decided on its own merits in accordance with the law, uninfluenced by the order passed in this proceeding. (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J)