Lsp IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (L) NO. 1183 of 2008 M/s. Wasan Realtors Pvt. Ltd. ...Applicant V/s. M/s. Melton Semiconductors Ltd. Through Official Liquidator High Court, Mumbai ...Respondents Mr. P.B.Shah i/b. Smita Mane for the applicant. Dy. Official Liquidator present. CORAM CORAM CORAM : A.M.KHANWILKAR,J. : A.M.KHANWILKAR,J. : A.M.KHANWILKAR,J. DATED DATED DATED : 21st November, 2008 : 21st November, 2008 : 21st November, 2008 P.C. . Not on Board. Upon production taken on Board. . Ordinarily, the applicant is bound by the terms and conditions of the sale. The applicant was obliged to deposit balance amount on or before 2nd November, 2008 which the applicant has failed to do. However, by way of indulgence applicant is granted six weeks further time from 2nd November, 2008 to deposit the remainder amount being 12,78,50,000/- (Rs. Twelve Crore, Seventy Eight Lakhs and Fifty Thousand only). This indulgence is shown to the applicant on condition that the applicant shall pay interest at the rate of 14% per annum which I am informed by the representative of the Official Liquidator is prevailing Bank lending rate. On 2 payment of principal amount alongwith interest as aforesaid within the extended time, Official Liquidator shall proceed to register conveyance in favour of applicant in accordance with terms and conditions of sale. In the event the applicant fails to deposit the balance amount alongwith interest as aforesaid within specified time, the Official Liquidator shall give effect to the terms and conditions of sale thereby forfeiting the EMD amount already deposited by the applicant and process the matter for resale of the property. 2. Application disposed of in the above terms. 3. It is made clear that no further request for extension of time on any count will be entertained at the instance of the applicant. [A.M.KHANWILKAR,J.] [A.M.KHANWILKAR,J.] [A.M.KHANWILKAR,J.]