M/S. Sunrise Lifestyle And Homes Pvt.Ltd. Through Its Director. v. The Liquidator, Maratha Marg Peoples Co-Operative Bank Ltd.

rsk 1 8-CAC-129-16.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.129 OF 2016 IN CIVIL REVISION APPLICATION NO.9 OF 2011 WITH CIVIL APPLICATION NO.130 OF 2016 IN CIVIL REVISION APPLICATION NO.10 OF 2011 WITH CIVIL APPLICATION NO.131 OF 2016 IN CIVIL REVISION APPLICATION NO.11 OF 2011 M/s. Sunrise Lifestyle & Homes Pvt. Ltd.

through its Director ..Applicant Vs.

The Liquidator, Maratha Marg Peoples Co-operative Bank Ltd.

..Respondent Mr. J. G. Reddy (Aradwad) for the Applicant.

Mr. V. P. Sawant a/w Mr. Prabhakar Jadhav for the Respondent. CORAM: M.S. SONAK, J.

DATE: 25th SEPTEMBER 2017 P.C. :

.

In this case, by the order dated 26/3/2010, in the previous round of litigation, this Court had determined compensation at the rate of Rs.10 per sq. ft. This would come to Rs.4,700/- p.m. since, the said premises admeasures 470 sq. ft.

2.

Today, after 10 years, the reasonable compensation amount is doubled and rounded off upto to Rs.10,000/-. The said premises are located in the Crawford market and being used for commercial purpose.

rsk 2 8-CAC-129-16.doc 3.

Accordingly, the reasonable compensation is determined at the rate of Rs.10,000/- p.m. The interim relief granted earlier is continued subject to the condition that the Respondent deposits in this Court compensation at the rate of Rs.10,000/- p.m. with effect from 1/1/2014. The time limit for paying arrears shall be 3 months. 4.

It is made clear that in case of default in depositing arrears and further in case of any two consecutive or nonconsecutive defaults, interim order granted by this Court stand vacated without further reference to this Court.

5.

Civil Applications are disposed of in the aforesaid terms. (M.S. SONAK, J.)