1 jpc/- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 660 OF 2004 Shimnit Infrastructures Ltd. .. Petitioners Versus Katha Meditex India Ltd. .. Respondent Mr. Rajeev Narula i/by S.M. Khaire for the petitioner CORAM : S. J. KATHAWALLA, J. DATE : 30th September, 2010 P.C.: 1. The following order is passed by consent of the parties: i. The Respondent Company shall deposit an amount of Rs. 59,00,000/- (Rupees fifty nine lacs ) with the Prothonotary and Senior Master of this Court within a period of 12 weeks from today and shall forthwith inform the Petitioners and their Advocates, in writing, that the said amount has been so deposited. ii. Within two weeks from the date of deposit of the said amount of Rs.59,00,000/- by the Respondent Company, the Petitioner shall file a Suit pertaining to the subject matter of this petition and seek appropriate reliefs. The petitioner shall also forthwith forward a complete copy of the plaint in the Suit to the Respondent Company. 2 iii. Upon filing of the said Suit, the Prothonotary and Senior Master shall transfer the said amount of Rs.59,00,000/- to the suit account and shall invest the said amount in a nationalised bank for a period of one year at a time. However, the direction to invest the said amount would be subject to any ad- interim/interim orders passed in the suit filed by the petitioner. iv. The petitioner shall be at liberty to take out appropriate proceedings seeking ad-interim/interim reliefs in the said suit which will be decided on its own merits. v. All contentions of the parties are kept open. vi. In the event of the Petitioner failing to file a Suit as set out in clause- (ii) above, the Respondent Company, after giving written notice to the Petitioner and their Advocates, shall be entitled to withdraw the said amount of Rs.59,00,000/- deposited with the Prothonotary and Senior Master of this Court. vii. In the event of the Respondent Company failing to deposit an amount of Rs.59,00,000/- as set out in Clause (i) above, the Company Petition shall, without reference to this Court, stand revived, admitted, made returnable within six weeks of default and advertised in two local newspapers i.e. Free Press Journal 3 (in English) and Maharashtra Times (In Marathi) and Maharashtra Government Gazette. viii. Upon such default, the Petitioners shall, within one week from the date of default, deposit with the Prothonotary and Senior Master, a sum of Rs. 10,000/- (Rupees ten thousand) towards publication charges, failing which the Company Petition shall stand dismissed for want of prosecution. 2. The parties agree that the period taken for filing the present Company Petition and further time granted to deposit an amount of Rs. 59,00,000/- shall be excluded whilst computing the period of limitation in filing of the suit, in view of the decision of the Hon’ble Division Bench of this Court in Maharashtra State Farming Corporation Limited Vs. Belapur Sugar & Allied Industries Ltd.,reported in 2004(3) Mh.LJ.414. The parties are correct in their contention since section 14 of the limitation Act would be applicable. 3. The Company Petition is accordingly disposed of with no order as to costs. (S. J. KATHAWALLA, J.)