1 NMW 584 of 2010 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.584 of 2010 IN WRIT PETITION (L) NO.1454 OF 2010 M/s.Jwala Micro Devices Pvt. Ltd. & Ors. ..... Petitioners V/s. Axis Bank Ltd. ..... Respondents Mr.Rohit Kapadia, Senior Advocate with Mr.Rishabh Shah, Mr.Rajeev Bhatia, Mr.Shreyas Mehta, Mr.Abhishek Sawant and Mr.Atit Shukla i/by M/s.Apex Consillis, for the petitioners. Mr.S.U.Kamdar, Senior Advocate with Mr.Vivek Phadke i/by Ms.Kaikani Phadke, for respondent. CORAM :P.B.MAJMUDAR & ANOOP V. MOHTA, JJ. DATE : 29th OCTOBER, 2010 P.C. 1. Heard the learned counsel for the parties. 2. Learned counsel for the petitioners has handed over a draft of Rs.10,00,000/- to the learned counsel appearing for respondent Bank. The petitioner is asking for extension of time for payment of remaining amount of Rs.30,00,000/- upto 30-11-2010. There is a strong objection on behalf of the respondent Bank on the ground that the petitioner is having resources, but deliberately avoiding the payment. 3. The petitioners are permitted to deposit further amount of Rs.10,00,000/- by 16-11-2010 and the same deposit may be made with 2 NMW 584 of 2010 the respondent Bank. The petitioner thereafter, may deposit remaining amount of Rs.20,00,000/- by 30-11-2010 with the respondent Bank. The learned counsel for the petitioners states that the petitioners undertake to deposit the aforesaid amount of Rs.10,00,000/- by 16-11-2010 and the remaining amount of Rs.20,00,000/- by 30-11-2010. The said oral undertaking is accepted which is given by Mr.Vipul Doshi, Director of the petitioner Company, who is personally present in the Court and who is identified by the learned counsel for the petitioners. 4. In view of the above, the respondent Bank may not proceed to execute the decree till 30-11-2010. It is clarified that in case the first installment of Rs.10,00,000/- is not paid by 16-11-2010, it will be open to the respondent Bank to execute the decree after 16-11-2010 without waiting upto 30-11-2010. However, if the said amount is deposited by 16-11-2010, the respondent Bank shall not execute the decree till 30-11-2010. 5. In view of what is stated above, the notice of motion is disposed of. ( ANOOP V. MOHTA, J. ) ( P.B.MAJMUDAR, J. )