M/S. V-Kool Films (India) Pvt. Ltd. v. The Bharat Co-Operative Bank Ltd. And ANR.

RNG2928.17prodn

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

APPELLATE CIVIL JURISDICTION WRIT PETITION NO.2928 OF 2017 M/s V.KoolFilms (India)Pvt.Ltd ...

.. Petitioner vs The Bharat Cooperative Bank (Mumbai) & anr.. Respondents Mr.I.S.Thakur and Ms.Sharan D'Souza I/b Global Juris Consultants for Petitioner.

Mr.Prashant Naik I/b Mr.S.R.Waghmare for Respondent no.1 Ms.Barsha Parulekar for Respondent no.2 CORAM: R.M.BORDE AND A.S.GADKARI, JJ DATE: 07 MARCH 2017 P.C.

Mentioned. Not on Board. Upon production taken on Board.

1.

We have perused the order passed by the Debt Recovery Tribunal. It is informed that the Petitioner is in arrears of more than Rs.16 crores payable to the bank and receivable by the RespondentBank. While granting interim protection, it has directed to the 1/2

RNG2928.17prodn Petitioner to deposit Rs.1 crore before 5 p.m. on 7 March 2017 as undertaken by the Petitioner and a further sum of Rs.1 crore within a period of four weeks thereafter with the Respondent-Bank. The Petitioner shall have to comply with the conditions prescribed by the Debt Recovery Tribunal while granting interim protection. In exercise of the Extra-Ordinary Jurisdiction under Article 226 of the Constitution of India, no interference is called for in the Petition. 2.

Writ Petition is devoid of merit and stands rejected. (A.S.GADKARI, J) (R.M.BORDE, J) 2/2