1 360.10-CA bgp IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.360 OF 2010 IN LETTERS PATENT APPEAL NO.272 OF 2010 IN WRIT PETITION NO.10546 OF 2009 Ved Textiles Pvt. Ltd. ..Applicant Vs. Sangli urban Coop. Bank Ltd. & Anr. ..Respondents Mr.A.V.Anturkar i/b. S.B.Deshmukh for applicant. Mr.G.H.Keluskar for respondent No.1. Mr.C.R.Sonawane, AGP for respondent No.2. CORAM : D.K.DESHMUKH & N.D.DESHPANDE,JJ. DATE : DECEMBER 23, 2010 P.C. Really speaking, the interim order which is sought in the Civil Application cannot be granted in this proceeding. It is also common ground that against the proposed action of the Bank of taking possession of the property of the appellant, the appellant has a remedy under the Securitization Act. However, as the learned Counsel appearing for the applicant has expressed willingness of depositing an amount of Rs.1.22 Crores with the respondent bank within a period of two weeks from today, in our opinion, the following order would meet the ends of justice. 2 360.10-CA a) In case the applicant deposits an amount of Rs.1.22 Crores with the respondent Bank within a period of two weeks from today, the Bank shall accept that amount without prejudice to its rights and contentions. b) The applicant shall be at liberty to adopt appropriate remedy against the possession notice dated 27th September, 2010 issued by the Bank in relation to the property and seek an appropriate interim order and final relief. c) For a period of four weeks from today, the respondent Bank shall not take any steps to take physical possession of the property to which the notice dated 27th September, 2010 relates. In case the amount is not deposited within the aforesaid period of two weeks, this interim order shall stand rejected. d) The present Civil Application stands disposed of. (N.D.DESHPANDE,J.) (D.K.DESHMUKH,J.)