Shiroz Consultants Pvt. Ltd. Through Chandramohan Moreshwar Sane v. Indus Floritech Ltd And ANR

ATUL GANESH KULKARNI 30-ia243-2022 in revn319-2018 corrected.doc AGK

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CRIMINAL APPELLATE JURISDICTION ATUL GANESH KULKARNI Date: 2022.12.23 14:58:22 +0530 INTERIM APPLICATION NO.243 OF 2022 IN CRIMINAL REVISION APPLICATION NO.319 OF 2018 Shiroz Consultants Pvt. Ltd ... Applicant V/s.

Indus Floritech Ltd. & Anr.

... Respondents Mr. Harihar Bhave with Ms. Rupa Bhave and Divya Menon i/by Bhave & Co. for the applicant.

Mr. Vinesh J. Jain for the respondent no.1.

Mr. A.R. Patil, APP for the respondent no.2/State. CORAM :AMIT BORKAR, J.

DATED :NOVEMBER 11, 2022 P.C.:

1.

This is an application by the complainant in a proceedings under section 138 of the Negotiable Instruments Act, 1881. The revision application has been filed by the accused having been convicted by the learned Magistrate and confirmed by the learned Sessions Judge. While convicting the accused, the learned agistrate directed to pay fine of Rs. 20 lakh. The said order has been confirmed by the learned Sessions Judge.

2.

During the pendency of the revision application, the accused has deposited an amount of Rs. 7 lakh before the learned Sessions Court and Rs. 3 lakh before the learned Magistrate.

30-ia243-2022 in revn319-2018 corrected.doc 3.

Taking into consideration the scheme of the Negotiable Instruments Act, 1881 and the application having been filed by the complainant in a proceedings where the accused has been convicted by both the Courts below, the applicant has made out a case for grant of permission with withdraw an amount of Rs. 10 lakh deposited. Hence, following order:

The applicant is permitted the amount of Rs. 7 lakh deposited with the learned Sessions Court and Rs. 3 lakh deposited with the learned Magistrate along with accrued interest, subject to filing an undertaking without four weeks from today that in case the revision is decided against the complainant, he will reimburse the accused entire amount withdrawn along with interest at the prevalent bank rate.

The applicant shall file undertaking in this court till 31st December 2022.

4.

The interim application is disposed of in above terms. No costs.

(AMIT BORKAR, J.) (The order is modified as per order dated 23rd December, 2022. The corrections in paragraph no.3 of the order are shown in italics)