1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.401 OF 2006 M/s.Dugal Engineering Company ...Petitioner. vs. 1.Citizen Co-operative Bank Ltd. and ors. ...Respondents. --- Mr.R.V.Govilkar, for Petitioner. Mr.P.S.Dani, for Respondent no.1. Mr.A.B.Anturkar i/b. Mr.S.B.Deshmukh, for Respondent no.3. --- CORAM: D.K.DESHMUKH, J. DATED: 18th JANUARY,2008. P.C.:- Heard the learned Counsel appearing for both 2 the sides. By consent of parties, the petition is disposed of in the following terms:- 1. The learned Counsel appearing for respondent no.3 states that he was in possession of the following property viz. (i) the Office premises admeasuring 1333 sq. ft. alongwith basement area on the ground floor, (ii) the apartment no.2 admeasuring 1130 sq.ft. on the first floor (above parking), (iii) the apartment no.3 admeasuring 1130 sq.ft, all situated in the “Gulshan” Apartment at Mouje Baner, Pune, bearing S.No.273/1/1+2/4/1 within limits of Pune Municipal Corporation and that he has created licence in favour of Bank of India of the premises on the ground floor of the building and he has also given the premises on the first floor on leave and licence. He states that he will not create any further third party interest in the property without seeking leave of this Court till repayment of loan is completed. 2. He further states that he will pay Rs.10,000/- per month to the respondent no.1 Bank 3 till the entire loan which was taken by the petitioner from that bank is wiped out. 3. He further states that he will not commit any default in payment of Rs.10,000/- per month promptly to the bank. The statements are accepted. 4. In view of these statements, in my opinion, no further order is necessary except that in case respondent no.3 commits default in payment as per his statement to the Bank, the respondent no.2 Special Recovery Officer shall stand appointed as Receiver of the property described above and the Receiver shall be entitled to receive licence fee that may be paid by the person occupying the premises, and the Receiver shall make over the amount recovered by him to the respondent no.1 bank till repayment of debt of respondent no.1-Bank. Thereafter, the Receiver shall stand discharged. This order is being made without prejudice to the rights and contentions of both the sides. 5. Mr.Dani, the learned Counsel appearing for 4 respondent no.1 bank states that within a period of one week from today, the bank will communicate to the petitioner and the respondent no.3 both, how much amount so far is recovered and how much amount is due. Petition is disposed of. ---