M/S. Teracom Ltd., v. M/S. Sojitz Corporation Represented By Mr. Masahiro Ota

IN THE HIGH COURT OF BOMBAY AT GOA

COMPANY APPLICATION NO. 28 OF 2014 IN COMPANY APPEAL NO. 10 OF 2013 M/S. TERACOM LTD., ... Applicant

Versus

M/S. SOJITZ CORPORATION REPRESENTED BY MR. MASAHIRO OTA ... Respondent Mr. Ashwin D. Bhobe, Advocate for the applicant. Mr. D. V. Patkar, Advocate for the respondent. Coram:- F. M. REIS & K. L. WADANE, JJ.

Date:- 12th October, 2015 P.C.:

Heard Mr. A.D. Bhobe, learned Counsel appearing for the applicant and Mr. D.V. Patkar, learned Counsel appearing for the respondent.

2. This is an application, inter alia, seeking transfer of a sum of Rs.1,32,46,951/- deposited by the applicant (appellant in the Company Appeal) in terms of an order dated 14th June, 2013. Mr. Bhobe, learned Counsel appearing for the applicant (appellant in the Company Appeal) has filed the above application for transfer of the said amount of Rs.1,32,46,951/- in favour of the respondent and the interest accrued thereon, if any, be reimbursed to the applicant (appellant in the Company Appeal). It is also pointed out by the

COAP/28/2014 learned Counsel that the disputes between the parties have been amicably settled.

3. Mr. D.V. Patkar, learned Counsel appearing for the respondent has no objection and prays that the said amount be transferred in the account No. 2164002100008925 with the Punjab National Bank as referred to in the affidavit filed on behalf of the respondent, to which Mr. A. D. Bhobe, learned Counsel appearing for the applicant has no objection.

4. Hence, we pass the following Order : The Registry is directed to transfer the said sum of Rs.1,32,46,951/- in the account No. 2164002100008925 with the Punjab National Bank and, the interest, if any accrued on the said sum, be reimbursed in favour of the applicant M/s Teracom Ltd. The application stands disposed of accordingly. K. L. WADANE, J.

F. M. REIS, J.

ssm.