IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 534 OF 2009 IN WRIT PETITION NO. 5628 OF 2006 Saokar Properties ..Applicant Vs. 1. Pune Peoples Co-Op. Bank Ltd. and anr. ..Respondents Mr. Mahesh Subramaniyam i/by Mr. S.V. Pitre for applicant. Mr. L.H. Patil with Mr. Kirit J. Hakani for respondent no.1. Mr. G.H. Keluskar for respondent no.2. CORAM: CORAM: CORAM: B.H. MARLAPALLE,J. B.H. MARLAPALLE,J. B.H. MARLAPALLE,J. Date Date Date : April 03, 2009. : April 03, 2009. : April 03, 2009. P.C.: P.C.: P.C.: 1. Heard Mr. Subramaniyam h/f Mr. S.V. Pitre the learned counsel for the applicant-firm. This application prays for leave to relieve the applicant from the undertaking to deposit the amount of Rs.50,00,000/- (Rupees Fifty Lakhs only) with the Registry of this court, as was furnished and noted in the order dated 29/4/2008. In Civil Application No. 1754 of 2008 further extension to deposit the amount was granted as per the order dated 8/8/08. 2. It appears that the applicant has still not complied with the undertaking so furnished and consequently the bank has taken out contempt proceedings against the applicant (Contempt Petition No. 325 of 2008). 3. It is obvious that this application is filed only to escape from the contempt proceedings. The undertaking was furnished as per the instructions of the applicant and subsequently extension was sought for to deposit the amount. 4. In these obtaining circumstances, it would not be appropriate that the applicant is relieved from the undertaking. 5. Hence, the application is rejected. (B. (B. (B. H. Marlapalle,J.) H. Marlapalle,J.) H. Marlapalle,J.)