1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.285 OF 2006 M/s.KMA Ltd. & anr. ..Petitioners V/s. T.M.Mantri & anr. ..Respondents WITH WRIT PETITION NO.195 OF 2006 Bank of Baroda & 3 ors ..Petitioners V/s. Kamani Employees' Union & ors ..Respondents WITH WRIT PETITION NO.459 OF 2007 Kamani Employees' Union ..Petitioners V/s. Bank of Baroda and others ..Respondents Mr.P.L.Mahadik, Advocate, for the petitioners in W.P.No.285 of 2006 Mr.C.U.Singh i/b.Ms.Jane Cox, for respondent No.2 in W.P.No.285 of 2006 Mr.C.U.Singh i/b.Ms.Jane Cox, for respondent No.1 in W.P.No.195 of 2006 Mr.C.U.Singh i/b.Ms.Jane Cox, petitioner in W.P.No.195 of 2006 Mr.D.G.Dhanure i/b.Mr.M.V.Kini, Advocate, for petitioner in W.P.No.195 of 2006 Mr.D.G.Dhanure i/b.Mr.M.V.Kini, Advocate, for the respondent Nos.1 to 4 in W.P.No.459 of 2007 Mr.Kedar Dighe, Advocate, for Official Liquidator Mr.S.B.Rao i/b.Mr.G.S.Rao, Advocate, for KMA Ltd. Workers and staff union, Banglore Mr.P.Rama Rao, Official Liquidator present Ms.Niladri Sen, AGM of Bank of Baroda present Mr.P.Y.Dethe, Manager of Dena Bank present 2 CORAM : J.N.PATEL & K.U.CHANDIWAL, JJ. DATE : 8TH JULY, 2008 P.C. . The parties to these three petitions have filed the Consent Terms. The Consent Terms are signed by all the concerned parties and their respective advocates and the contents of the Consent Terms are admitted by the parties and their advocates. The Consent Terms are in the matter of Bank of Baroda and three others Vs. Kamani Employees' Union & ors in Writ Petition No.195 of 2006 came to be filed by Bank of Baroda and three others whereas Writ Petition No.459 of 2007 has been filed by Kamani Employees' Union against secured creditors i.e.Bank of Baroda and others and the third Writ Petition No.285 of 2006 is filed by M/s.KMA Ltd. & anr against T.M.Mantri & anr. 2. The learned counsel for the parties submit that these three petitions may be disposed of in accordance with the Consent Terms. The Consent Terms are taken on record and marked 'X' for 3 identification. It has been brought to our notice by the learned counsel appearing for official liquidator that the Company Petition in the matter has been admitted by the Company Judge by Order dated 29th September, 2005 and the official liquidator has been appointed as provisional liquidator of the Company to take charge of the books, assets and business and to exercise all the powers under the Companies Act. 3. It is submitted that due to paucity of funds the official liquidator could not take any further steps in the matter and submit his report to the Company Judge. In view of the fact that the Company is now under liquidation and the Company Judge is seized with the liquidation proceedings of M/s.KMA Limited, it will be appropriate that the parties also seek concurrence of the learned Company Judge in the matter of the Consent Terms which has been filed in these three petitions before this Court. 4. In our view, without concurrence of the 4 learned Company Judge it will not be proper on the part of the parties to this petition to act upon the terms & conditions agreed upon by them under the Consent Terms. 5. We, therefore, dispose of all these three petitions in accordance with the Consent Terms subject to the concurrence of the Company Judge. We make it clear that these Consent Terms do not in any manner extinct right of any creditor to lodge his claim with the official liquidator in the proceedings pending with the learned Company Judge in the Company Petition No.778 of 2005. All the three Writ Petitions stand disposed of. Interim orders passed by this Court in two Writ Petitions would continue to operate till the Company Judge accord his concurrence to the settlement arrived at between secured creditors and workmen through their Union of M/s.KMA Ltd & anr. (J.N.PATEL, J.) (K.U.CHANDIWAL, J.) 5