1 jpc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 132 OF 2010 Sharadchandra P. Shah Agency Pvt. Ltd. .. Petitioner Versus Godavari Pulp and Paper Mills Pvt. Ltd. .. Respondent Mr. Sujay Kantawala a/w Ms. Jyoti Ghag a/w Mr. Yahya Ghogavi i/by Thakore Jariwala & Co. for the Petitioner Ms. Anjali Chandurkar i/by Puranand & Co. for the Respondent CORAM : S. J. KATHAWALLA, J. DATE : 6th October, 2010 P.C.: 1. The learned Advocates appearing for the parties, after taking instructions from their respective clients have agreed to the following order being passed in the matter. i. The Respondent Company shall pay an amount of Rs.9,53,950/- (Rupees Nine lacs fifty three thousand nine hundred and fifty only) to the Petitioner within two weeks from the date of this order. ii. The Respondent Company shall deposit an amount of Rs.2,85,000/- (Rupees two lacs eighty five thousand only ) with the Prothonotary and Senior Master of this Court within a period of two weeks from today and shall forthwith inform the Petitioner and its Advocate, in writing, that the said amount has been so deposited. 2 iii. The Petitioner shall file a Suit as regards its balance claim against the Respondent within a period of two weeks from the receipt of written communication from the Advocate for the Respondent Company to the effect that they have deposited the said amount as set out in clause (ii) of this order. iv. Upon filing of the said Suit, the Prothonotary and Senior Master shall transfer the said amount of Rs.2,85,000/- to the Suit account and shall invest the said amount in a nationalised bank for a period of one year at a time. However, the direction to invest the said amount would be subject to any ad-interim/interim orders passed in the suit filed by the petitioner. v. The Petitioner shall be at liberty to take out appropriate proceedings seeking ad-interim/interim reliefs including the reliefs seeking withdrawal of the said amount of Rs. 2,85,000/- in the said suit which will be decided on its own merits. vi. All contentions of the parties are kept open. vii. In the event of the Petitioner failing to file a Suit as set out in clause- (iii) above, the Respondent Company, after giving written notice to the Petitioner and its Advocate, shall be entitled to withdraw the said amount of Rs. 2,85,000/- deposited with the Prothonotary and Senior Master of this Court. 3 viii. In the event of the Respondent Company failing to pay Rs.9,53,950/- to the Petitioner or failing to deposit an amount of Rs. 2,85,000/- as set out in Clauses (i) and (ii) above, the Company Petition shall, without reference to this Court, stand revived, admitted, made returnable within six weeks of default and advertised in two local newspapers i.e. Free Press Journal (in English) and Maharashtra Times (In Marathi) and Maharashtra Government Gazette. ix. Upon such default, the Petitioner shall, within one week from the date of default, deposit with the Prothonotary and Senior Master, a sum of Rs. 10,000/- (Rupees ten thousand) towards publication charges, failing which the Company Petition shall stand dismissed for want of prosecution. x. The parties shall act on an authenticated copy of this order. 2. The Company Petition is accordingly disposed of with no order as to costs. (S. J. KATHAWALLA, J.)