ssm sm sm IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL CIVIL CIVIL APPELLATE JURISDICTION APPELLATE JURISDICTION APPELLATE JURISDICTION CIVIL CIVIL CIVIL APPLICATION NO.1531 OF 2008 APPLICATION NO.1531 OF 2008 APPLICATION NO.1531 OF 2008 IN IN IN WRIT WRIT WRIT PETITION NO. 1764 OF 2008 PETITION NO. 1764 OF 2008 PETITION NO. 1764 OF 2008 Shri Pant Vastrodyog Sahakari Sanstha Maryadit, Tilawani. ...Applicant. Vs. Kolhapur Dist.Central Co-op. Bank Ltd. ...Respondent. Mr.P.D.Dalvi for the Applicants. Mr.S.S.Patwardhan for Respondents. CORAM CORAM CORAM : R.V.MORE, J. : R.V.MORE, J. : R.V.MORE, J. DATED DATED DATED : 18th July, 2008 : 18th July, 2008 : 18th July, 2008. P.C. P.C. P.C. . This Civil Application is filed by the Applicants - Original Respondents in Writ Petition NO.1764 of 2008, for extension of three months time to pay the entire arrears to the Respondents - Original Petitioners bank. 2. The present Applicants obtained injunction from the Co-operative Court against the present Opponents restraining them from taking actual physical possession of the secured property. This order was challenged in aforesaid Writ Petition. In the Writ Petition, the injunction was continued for the period of three months by this Court by an order dated ( 2 ) 27/03/2008, as the Respondents made statement that within that time they will clear up entire arrears of dues. The period of three months was already expired. The total dues according to the Applicants are Rs.1,56,00,000/- (Rupees One crore fifty six lacs only) and out of that they have deposited an amount of Rs.25,00,000/- (Rupees twenty five lacs only), after passing of the aforesaid order. Mr.Patwardhan, the learned counsel appearing for the Respondents disputes this fact. 3. The Applicants by this Civil Application, seek extension of time as stated above to enable them to clear up the entire dues. Mr.Dalvi, the learned counsel appearing for the Applicants submits that the Applicants’ proposal for providing finance before N.C.D.S.is pending and the Applicants expect that they will get the finance, at the earliest. Mr.Patwardhan, the learned counsel appearing for the Respondents submits that the extension for the period of three months as claimed by the Applicants is too long and states that extension for the period of two months will be more than sufficient. In the facts and circumstances of the above and in the interest of justice, I dispose of this Civil Application by ( 3 ) passing the following order:- O R D E R R D E R R D E R 1. Time granted to the applicants by the order dated 27/03/2008 is extended by the period of two months from today, to pay out entire arrears of the loan to the Respondents. 2. The office bearers of the Applicants Society as the condition precedent for extension of period shall file an undertaking in this Court within a period of two weeks from today to the effect that the arrears will be cleared in aforesaid period and the copy of the undertaking shall be given to the Respondents. 3. It is made clear that no further extension will be granted. 4. The Civil Application is disposed of, accordingly. ( 4 ) ( R. V. MORE, J.) R. V. MORE, J.) R. V. MORE, J.)