IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) TUESDAY, THE THIRTIETH DAY OF SEPTEMBER, TWO THOUSAND EIGHT ONLY PRESENT: THE HON’BLE MR. JUSTICE C.V.NAGARJUNA REDDY WRIT PETITION Nos.7746, 9919, 9920, 10964, 13468, 13472 and 13473 of 2005 Between: The Prudential Cooperative Bank Limited, Rashtrapathi Road, Secunderabad, rep., by its Liquidator Sri V. Amarendar Rao. … Petitioner (in all writ petitions) AND The Visakhapatnam Cooperative Bank Ltd., Visakhapatnam, rep., by its Secretary, & another. … Respondents (in all writ petitions) Counsel for the petitioners : Sri S. Ashok Anand Kumar Counsel for respondent No.1: Sri A. Ramalingeshwar Rao This Court made the following: THE HON’BLE SRI JUSTICE C.V.NAGARJUNA REDDY WRIT PETITION Nos.7746, 9919, 9920, 10964, 13468, 13472 and 13473 of 2005 COMMON ORDER:- This batch of writ petitions is ﬁled against the orders of the Andhra Pradesh Cooperative Tribunal, Visahapatnam, in O.P.Nos.381, 535 and 536 of 2004 and I.As., filed therein. WP.Nos.13468, 13472 and 13473 of 2005 are ﬁled against order dated 05.05.2005 passed in O.P.Nos.381, 535 and 536 of 2004 respectively. WP.Nos.7746, 9919, 9920 and 10964 of 2005 are ﬁled against interlocutory orders of attachment before judgment, pending the abovementioned O.Ps. After these writ petitions were heard at considerable length by this Court on 26.08.2008, they were adjourned to enable the parties to explore the possibility of an out of Court settlement. Today, Sri M. Venugopal Sharma, the liquidator of the petitioner Bank in all these writ petitions and Sri P.V.Narsimha Murthy, Secretary of the Visakhapatnam Cooperative Bank Limited, respondent No.1, are present in the Court. After some deliberations, both of them agreed in the presence of their counsel Sri S. Ashok Anand Kumar and Sri A. Ramaligeswar Rao for an out of Court settlement and reduced the said settlement to writing. Due to paucity of time, they could not get the same typed. A manuscript of the joint understanding is ﬁled before this Court, which is taken on record. According to the said understanding, which is styled as Joint Memorandum of Compromise arrived at between the petitioner and respondent No.1, they agreed for the following terms: 1. The petitioner agrees to pay an amount of Rs.7 crores immediately through cheque dated 01.10.2008 to be drawn on Axis Bank, Secunderabad to respondent No.1 in partial discharge of the amount due to it under the pending E.Ps., before respondent No.2. 2. The balance amount payable under the pending E.Ps., would be paid in six (6) quarterly instalments on prorata basis to respondent No.1 and also DICGCI (Deposit Insurance and Credit Guarantee Corporation of India) in six (6) quarterly instalments commencing from 01.10.2008 with available liquidity, and; 3. Both the parties agreed that the writ petitions may be disposed of on the abovementioned settlement terms. In view of the above understanding reached by the parties, all the writ petitions are disposed of in terms of the above-reproduced settlement arrived between them. As a sequel to disposal of the writ petitions in the manner indicated above, WPMP.Nos.10291, 12896, 12897, 14062 of 2005 in WP.Nos.7746, 9919, 9920 and 10964 of 2005 respectively, WPMP.Nos.17083 of 2005 and 189 of 2007 in WP.No.13468 of 2005, WPMP.Nos.17090 of 2005 and 185 of 2007 in WP.No.13472 of 2005 and WPMP.Nos.17091 of 2005 and 183 of 2007 in WP.No.13473 of 2005 are disposed of as infructuous. ____________________________ C.V.NAGARJUNA REDDY, J Date: 30.09.2008 ES