1 WP 7650 of 2010 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.7650 OF 2010 Briggs Trading Co. Pvt. Ltd. & Anr. .....Petitioners V/s. HDFC Bank Ltd. and Anr. ..... Respondents Dr.Virendra Tulzapurkar, Senior Advocate i/by PDS & Associates, for the petitioners. Mr.Chirag Balsara with Mr.Mihir Mody i/by M/s.Ashar & Co., for respondent No.1. CORAM :P.B.MAJMUDAR & ANOOP V. MOHTA, JJ. DATE : 06th OCTOBER, 2010 P.C. 1. The parties have placed on record the Minutes of Order. The Minutes of Order is marked Exh.X for identification. 2. This petition is filed challenging the order passed by the Debt Recovery Appellate Tribunal by which the petitioner is directed to deposit Rs.3,70,00,000/- on or before 14-07-2010 by way of pre-deposit. According to the petitioners, they have good case on merits and that such order could not have been passed. During the hearing of this petition, there is a consensus prevailing between the parties and since draft Minutes of Order have been placed on record, we dispose of this petition as per the Minutes of Draft placed on record. The Tribunal may accordingly dispose 2 WP 7650 of 2010 of the appeal within a period of two months from today. It is clarified that contentions of both the sides are expressly kept open to be agitated before the Appellate Tribunal. It is further clarified that after the decision in appeal, subject to further orders of the Court if any, it will be open to the respondents to recover the decretal amount under recovery proceedings, in case the Appellate Tribunal decides the appeal in favour of the respondents. In case, the appeal is dismissed, the petitioner shall deposit Rs.3,70,00,000/- at the first instance within a period of two weeks from the pronouncement of the order, subject to their right to challenge the said order by way of appropriate proceedings. It is also clarified that deposit of Rs.3,70,00,000/- should not mean that respondent is not entitled to execute the decree as a whole, in case the petitioner fails to get any interim order in a Writ Petition. 3. In view of the above, the Appellate Tribunal shall dispose of the appeal within a period of two months from today, without insisting for pre-deposit of Rs.3,70,00,000/- as ordered in the impugned order. The appeal may be heard on its own merits without insisting for pre-deposit. 4. In view of what is stated above, the writ petition is disposed of. ( ANOOP V. MOHTA, J. ) ( P.B.MAJMUDAR, J. )