Idbi Bank Ltd. v. City And Industrial Development Corporation Of Maharashtra Ltd.

AS_504_caw1248_2017.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.1248 OF 2017 IN WRIT PETITION NO.6232 OF 2017 IDBI Bank Ltd.

...Applicant In the matter between IDBI Bank Ltd.

...Petitioner

Versus

City and Industrial Development Corporation of Maharashtra

...Respondent

.....

Mr. Zal Andhyarujina with Ms Zeba Khan and Mr. Sanket Palshikar i/b. M/s. Dave and Girish and Co. for the Applicant. Mr. B.B. Sharma for the Respondent.

CORAM : SHANTANU KEMKAR & SMT. ANUJA PRABHUDESSAI, JJ.

DATED : 11th SEPTEMBER, 2017.

P.C.:- Heard the learned counsel for the parties on the prayer for interim relief. On the Petitioner's depositing the total outstanding amount of Rs.12,82,22,973/- as on 20th September, 2017, the Respondent CIDCO shall issue no objection certificate to the Petitioner within a week from the date of deposit of the said amount. However, issuance of the no objection certificate as also deposit of the said Megha 1/2

AS_504_caw1248_2017.doc amount by the Petitioner shall be subject to final outcome of this Petition. In case, the Petitioner succeeds, the Respondent-CIDCO shall refund the said amount to the Petitioner as may be directed by the Court within one month.

2.

The application stands disposed of.

(ANUJA PRABHUDESSAI, J.) (SHANTANU KEMKAR, J.) Megha 2/2