Atv Projects India Ltd v. Central Bank Of India

s 1198 of 2001 (910).sxw

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION SUIT NO.1198 OF 2001 ATV Projects India Ltd.

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Plaintiff versus Central Bank of India and Ors.

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Defendants WITH CHAMBER SUMMONS (L) NO.1901 OF 2015 Ms. Mansi V.Kaku i/by M/s. Solomon and Co., for Plaintiff. Mr. T.N.

Tripathi i/by M/s. T.N.

Tripathi and Co., for Defendant No.1.

Mr. Anand Bagul, Chief Manager, Asset Recovery Branch, Central Bank of India, present.

CORAM: S.J. KATHAWALLA, J.

DATE: 20th JUNE, 2016 P.C.:

1.

Mr. Anand Bagul, Chief Manager of Defendant No.1 is present in Court. He states that no dues certificate is already issued to the Plaintiff on 16-062016. He states that since no shares are pledged with the bank by the Plaintiff, the question of releasing the same does not arise. He further states that the bank shall issue a letter to the Plaintiff stating that the charge of the bank on the assets of the company to the extent of their claim is released and that two personal/corporate guarantees issued by the Plaintiffs in favour of the bank shall stand discharged to the extent of the claim of the bank. A letter to this effect will be issued to the Plaintiff within a period of one week from today. The Bank shall also withdraw the Original ssp 1/2

s 1198 of 2001 (910).sxw Application No.13 of 2001 pending before the Debt Recovery Tribunal, Mumbai, within a period of one week and in turn, the Plaintiff shall within one week from today make written application in Debt Recovery Appellate Tribunal, Mumbai, for unconditional withdrawal of Appeal No.217 of 2009 filed by the Plaintiff. 2.

In view thereof, the Plaintiff seeks to withdraw the Suit as well as Chamber Summons with liberty to take out appropriate proceedings for reliefs sought in the Chamber Summons. The Suit as well as Chamber Summons are accordingly disposed of with liberty as sought. Refund of Court Fees, if any, as per rules. ( S.J.KATHAWALLA, J. ) ssp 2/2