M/S. Syntheti Colour Chem. Industries And ORS v. Deutsche Bank A. G.

hcs 902.w12988.18.odt

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.12988 OF 2018 M/s. Syntheti Colour Chem Industries and Ors.

.. Petitioners.

Vs.

Deutsche Bank A.G.

.. Respondent.

Mr.Siddharth Samantary i/b Vivek V. Phadke for the Petitioners. Mr.R.Motwani for the Respondent.

CORAM : A.A. SAYED & A.K. MENON, JJ.

DATED : 22ND NOVEMBER, 2018.

P.C. :

1.

Learned counsel for the petitioners has tendered an affidavit undertaking on behalf of the petitioners which reads as follows : "2. We undertake to pay the aforesaid sum of Rs.4,06,57,023.41 (including Rs.30 lakhs paid by us on 19th November, 2018 through Demand Drafts) to the Respondent towards full and final settlement of the dues of the Respondent in all the three accounts on or before 10th December, 2018. We further undertake that in case of our failure to pay the aforesaid amount on or before 1/2

902.w12988.18.odt 10th December, 2018, we will hand over the vacant and peaceful possession of Flat No.ME-1-1502, Marathon Era-1, Ganpatrao Kadam Marg, Lower Parel (E) Mumbai 400 013 to the Respondent on 11th December, 2018 @ 12.30 pm."

2.

In the circumstances, we accept the undertaking on behalf of the petitioners and dispose of the petition. The respondent bank shall handover the title deeds in respect of secured asset to the petitioners within 15 days of payment by the petitioners.

3.

The Petition to stand disposed of accordingly. (A.K. MENON,J.) (A.A. SAYED,J.) 2/2