- 1 - IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION LETTERS PATENT APPEAL NO.114 OF 2001 IN WRIT PETITION NO.774 OF 1988 ... M/s.Merigold Metal Industries & Ors. ..Appellants v/s. The Pen co.op.Urban Bank Ltd. & ors. ..Respondents ... Mr.K.K.Jadhav for the Appellants. Mr.Y.R.Naik for Respondent No.1. ... CORAM: D.K.DESHMUKH & V.M.KANADE, JJ. DATED: 16TH JANUARY, 2008 P.C.: 1. The facts that are material and relevant for deciding this petition are that the - 2 - Respondent-co.operative Bank filed a dispute before the Co.operative Court for recovery of certain amounts from the Appellant. In that dispute written statement was filed by the Appellant. Perusal of that written statement shows that practically the debt was admitted. Thereafter, the Co.operative Court passed an exparte award against the Appellant. Against the exparte award an appeal was preferred by the Appellant before the Co.operative Appellate Court, but ultimately the Appeal was withdrawn. Date of the order withdrawing the appeal is 9th April, 1986. Thereafter, an application was moved before the Co.operative Court for setting aside the exparte award. That application was decided by order dated 10-7-1986 and the application was rejected. Against that order revision was preferred before the Co.operative Appellate Court. It appears that during the pendency of that revision the amount of principal was deposited by the Appellant. The Revisional court did not make any order whether the exparte award was to be set aside or no, but instead modified the award, in as much as the rate of interest was reduced. The Bank felt aggrieved by that and therefore it filed writ petition in this court. The learned single Judge of this court by order dated - 3 - 7-8-2000 allowed that writ petition and set aside the order passed by the revisional court. It is this order of the learned single Judge which is challenged in this Appeal. 2. We have heard the learned counsel for both sides. By consent of both sides the Appeal is disposed of in following terms: (i) Exparte award which was passed by the Co.operative court is set aside. (ii) The dispute is remitted back to the Co.operative Court. The Co.operative court shall go through the dispute and written statement and hear the parties and make a fresh award. (iii) The Co.operative Court shall award interest for the period before filling of the dispute at the contractual rate. So far as rate of interest from the date of filing of the dispute till the realisation of the amount is concerned, rate of interest shall be decided by the Co.operative Court in accordance with law. - 4 - (iv) As some amounts have already been deposited by the Appellant, the Co.operative Court shall take into consideration the amounts that have been deposited and the dates on which those amounts have been deposited and shall calculate the amount that is due to the Bank from the Appellant and make a specific decree. (v) We have been informed that the properties of Appellant are under attachment of the Bank because of the decree. The attachment still continue, however, the Appellant shall be at liberty to apply to the Co.operative Court for lifting the attachment. In case such an application is made, the Co.operative Court shall decide it in accordance with law. (vi) Appeal disposed of. (D.K.DESHMUKH, J.) (V.M.KANADE, J.)