1 IN IN IN THE HIGH COURT OF JUDICATURE OF BOMBAY THE HIGH COURT OF JUDICATURE OF BOMBAY THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (ST.) NO.1182 OF 2008 IN COMPANY PETITION NO.345 OF 2006 BIFR ..Petitioner And M/s.Akanksha Enterprises. ..Applicant. V/s. M/s.Meltron Semiconductors Ltd. & Anr. ..Respondents. Mr.Vishnu Solanki for applicant. Mr.S.Ramakanta, Dy. O.L. CORAM: CORAM: CORAM: A.M.KHANWILKAR,J A.M.KHANWILKAR,J A.M.KHANWILKAR,J DATE DATE DATE : NOVEMBER 17, 2008. : NOVEMBER 17, 2008. : NOVEMBER 17, 2008. P.C. P.C. P.C. : : : 1. Not on board. Upon mentioning taken on board. 2. Heard Counsel for the Applicant. 3. Ordinarily, in view of the terms and conditions on the basis of which auction was conducted, the same will have to be given effect to. However, by way of indulgence, Applicant can be permitted to deposit balance amount within further period of four weeks from 2nd November, 2008 on condition that the Applicant shall pay interest at 2 the rate of around 14%, which is stated to be the prevailing bank interest rate. It is reiterated that it is as an indulgence shown to the applicant. 4. In the event, the applicant fails to deposit balance amount of Rs.3,00,75,000/-(Rs.Three Crore Seventy five thousand only) alongwith interest thereon within the extended time, the Official Liquidator to proceed on the basis of original terms and conditions of sale. 5. In the event, amount is deposited within the extended time as aforesaid alongwith the interest, the Official Liquidator may accept the same and proceed to register conveyance in favour of the Applicant. 6. Application disposed of on the above terms. (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J)