1 APP 802 of 2010 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO.802 OF 2010 IN COMPANY PETITION NO.12 OF 2010 Srimauli Infrastructure Pvt. Ltd. ..... Appellant V/s. Unity Infraprojects Ltd. ..... Respondent Mr.S.C.Naidu a/w Mr.Gauri S. Rao, for the appellant. Mr.Sanjeev Kadam i/by Kadam & Co., for the respondent. CORAM :P.B.MAJMUDAR & ANOOP V. MOHTA, JJ. DATE : 27th OCTOBER, 2010 P.C. 1. This appeal is filed against the order of the learned Single Judge in Company Petition No.12 of 2010. By the impugned order, the learned Single Judge directed the petitioner company to pay a sum of Rs. 4,00,00,000/- to the petitioning creditor by 31-07-2010. In the event of such payment, it is directed that the petitioner before the Company Court shall not deal with the fixed deposits deposited with the Abhudaya Co-op. Bank Ltd., Dadar Branch, Dadar, without the leave of this Court. Liberty is also given to the petitioner company to apply in respect of the fixed deposits. It is directed that in the event of failure on the part of the company, public advertisement is to be given. 2 APP 802 of 2010 2. It is submitted by both the sides that time to deposit money is extended from time to time and no public advertisement is given. The said statement is recorded. The consent terms duly signed by the concerned parties are already taken on record and was marked ‘X’ for identification. The presence of the concerned parties was also recorded in our earlier order. The resolutions passed by both the Companies, are taken on record and the same shall be inserted in the consent terms. 3. It is submitted by both the Advocates appearing in the matter that the bank guarantee given by Abhudaya Bank on behalf of the appellant for the benefit of State Government shall continue to operate and that bank guarantee shall remain intact. It is also pointed out that in spite of notice, nobody appears for the Abhudaya Bank. 4. In view of the consent terms, the fixed deposits on the basis of which bank guarantee is given, is permitted to be replaced by way of fixed deposits made by the present appellants. The appeal is accordingly disposed of in view of the consent terms filed on record and the parties concern shall act accordingly. The order of the learned Single Judge is accordingly set aside to the aforesaid extent. 5. Let copy of this order be sent to the Branch Manager, Abhudaya Co-op. Bank Ltd., Dadar Branch, Mumbai, as well as to the Public Works Department, Latur, Division Aurangabad, forthwith. 3 APP 802 of 2010 6. Liberty is given to the State Government and the Abhudaya Co-op. Bank Ltd., to apply to this Court in case they have any grievance regarding recording of the consent terms within a period of one month from today. It is clarified that the consent terms shall come in force after a period of one month from today. 7. Registry to dispatch notice to the parties forthwith. ( ANOOP V. MOHTA, J. ) ( P.B.MAJMUDAR, J. )