1 S.B. CIVIL WRIT PETITION NO.6150/2010 Vikas WSP Limited Vs. IFCI Limited and Anr. DATE OF ORDER : 17.8.2010 HON'BLE MR. GOVIND MATHUR, J. Mr. Sanjeet Purohit, for the petitioner. Mr. M.S. Singhvi, for the respondents. This petition for writ is preferred seeking the following reliefs :- “a. the communication impugned dated 22.06.2010 (Annx.9) may kindly be declared illegal and the same may kindly be quashed and set aside; b. the communication impugned dated 12.05.2010 (Annx.5) may kindly be declared illegal and the same may kindly be quashed and set aside; c. the respondent be directed to withdraw the communication dated 22.06.2010 as well as 12th May 2010 and be restrained from taking any coercive action for the recovery of the dues payable under the credit facility granted to the 2 petitioner; d. the respondent be restrained from selling the pledged shares of the promoters of the petitioner held in the petitioner company and in Vikas Granaries Limited; e. the respondents be directed to grant an extension of the time period by at least four months for the payment of the quarterly installment due and payable on 15th May 2010 under the Corporate Loan; f. costs of the writ petition may kindly be awarded in favour of the petitioner.” This court by order dated 3.8.2010 restrained the respondent IFCI Limited from selling the pledged shares as referred in document Annexure-9 upto 15.8.2010, if the petitioner satisfies all outstanding, which was due on 15.5.2010 and also the installment due on 15.8.2010. Counsel for the parties are in agreement that the amount relating to the installment due on 15.5.2010 has already been deposited. In view of the fact that the amount due as on 15.5.2010 has already been deposited, the respondents are not required to sell the pledged shares on that count. However, for all the 3 subsequent events and eventualities, the parties are at liberty to act as per law. The petition for writ stands disposed of. (GOVIND MATHUR)J. RM/