1 IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN AT JODHPUR -------------------------------------------------------- SPL. APPL. WRIT No. 935 of 2008 M/S. RATAN INDUSTRIAL CORPORATION V/S RAJ. FINANCIAL CORPORATION & ORS DR. SACHIN ACHARYA, for the appellant / petitioner Dr. RAKESH SINHA for DR. PRATISTHA DAVE, for the respondent Date of Order : 22.10.2008 HON'BLE SHRI N P GUPTA,J. HON'BLE SHRI KISHAN SWAROOP CHAUDHARI,J. ORDER ----- By this appeal, the appellant seeks to challenge the order of the learned Single Judge dt. 20.8.2008 dismissing the writ petition whereby the appellant had sought to challenge the auction notice Annexure-3 dt. 1.5.2008, and the letter dt. 2.5.2008 being Annexure-8. It appears from the order that the matter had gone to the Hon'ble Supreme Court more than once, and vide order dt. 7.4.2007 as quoted in the impugned order the Hon'ble Supreme Court found that the demand of Rs. 27,54,000/- by the Corporation is justified, and the petitioner was granted three months time for paying the amount, and it was directed that if the amount is paid before that time the possession of the property will be restored. In case the amount is not paid by that time, it will be open to the 2 respondent to take action in accordance with law. Of course, the amount was not paid, and today learned counsel for the appellant agrees that the appellant will pay the amount of Rs. 24,05,000/- (Twenty Four Lakh Five Thousand) as mentioned in the letter dt. 13.5.2008 Annexure R/4 along with contractual rate of interest thereon from 15.5.2008, and for that he may be given time upto 25.11.2008. This request is seriously opposed by the learned counsel for the respondent. In our view, a look at the letter dt. 13.5.2008 issued by the Corporation available on the file of this D.B. Special Appeal at page-225 shows that it did proceed with noticing the outstanding amount against the appellant being Rs. 27.41 lacs, and after adjusting the payments made by the appellant the outstanding settlement amount was conveyed to be Rs. 17,24,473/-, and then adding interest upto 15.5.2008 a sum of Rs. 24,05,000/- was claimed to be outstanding, and the appellant was directed to deposit the amount on or before 14.5.2008. We are informed that the writ petition was filed on 12.5.2008. In these circumstances, on the face of it it would be to insist on an impossiblity to call upon the appellant to deposit the amount of Rs. 24,05,000/- say within 24 hours. But then the fact remains that after filing of the present writ petition, the Corporation was claiming this 3 amount to be outstanding. In these circumstances, in the interest of justice we think it appropriate to settle the controversy once for all by directing that if the appellant pays a sum of Rs. 24,05,000/- along with contractual rate of interest by 25.11.2008, the writ petition will stand allowed, the liability of the appellant would stand discharged, and the Corporation will restore possession of the assets taken possession of by them. Obviously the auction would stand cancelled. We are mindful of the fact that auction has been conducted during pendency of the writ petition, but then by virtue of interim order of this Court that has not been finalised, and that is also said to be made on deferred payment basis. However, looking to the past conduct of the appellant it is further clarified, that if the appellant fails to deposit the amount as aforesaid, on or before 25.11.2008, the appeal and the writ petition will stand automatically dismissed, and the Corporation will be free to finalise the auction, and proceed ahead with it. The appeal is accordingly disposed of as above. ( KISHAN SWAROOP CHAUDHARI ),J. ( N P GUPTA ),J. /Sushil/