IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.273 OF 2010 Zoom Developers Pvt. Ltd. & Ors. .. Petitioners Vs. SICOM Limited .. Respondents Mr. D. D. Madon, Sr. Advocate, with Ms. Bhoomi Patel i/b Mulla & Mulla CB & Co. for Petitioners Ms. Jaymala Raut i/b Jurisconsults for Respondents CORAM : J. N. PATEL & A.P. BHANGALE, JJ DATE : 18th MARCH, 2010. P.C. : 1. In view of the fact that the parties have entered into the Memorandum of Understanding on 17th March 2010, the Learned Counsel for the Petitioners states that the Petitioners do not want to proceed with this Petition and that the order passed by this Court on 1st January 2010, observing that the Petitioners may deposit in this Court a sum of Rs.2.5. Crores on or before 7th February 2010, has been complied with. Thereafter, this court further directed on 11th January 2010, that in order to show their bonafide for discharging their liability, the Petitioners have agreed to liquidate the loan by depositing the principal amount in this Court i.e. Rs.40 crores together with interest within a period of 8 weeks from the passing of the order and the said undertaking was accepted by the Court and the matter came to be adjourned. The Court had also observed that in case the Petitioners failed to comply with the undertaking of depositing the amount, the Petition would stand dismissed without further reference to the Court and that the Respondents would be at liberty to proceed in accordance with law. Now it is stated that as the matter is settled out of Court, the Petitioners may be discharged of their undertaking. We accordingly recall our order and discharge the Petitioners from their undertaking given to this Court, which has been recorded on 11th January 2010. 2. Copy of Memorandum of Understanding is taken on record and marked ‘X’ for identification. 3. The Petition is disposed of as settled out of court. ( J. N. Patel, J) (A.P. BHANGALE, J)