M/S.Dayal Fertilizers Pvt. Ltd. And 2 Others v. Sulphur Mills Limited And Another

Application No.5618 of 2019 in C.S.No.410 of 2019 Krishnan Ramasamy, J.

This Application has been filed to permit the applicants 1 to 3 to deposit the sum of Rs.50,00,000/- each with the Registrar General, Madras High Court in lieu of the furnishing of Bank Guarantee as directed by this Court vide orders dated 16.07.2019 and 24.07.2019 and as security/guarantee for the compliance of any orders that may be passed in A.No.4918 and 5125 of 2019 in C.S.No.410 of 2019 and direct the Registrar General of this Court to keep such amount deposited by the applicants in an interest bearing bank account until further orders.

2. Mr.P.S.Raman, learned Senior Counsel has stated no objection to allow this application.

3.Today, Mr.P.S.Raman, learned Senior Counsel appearing for the applicants has produced three Demand Drafts before this Court, in favour of Registrar General, Madras High Court as per the directions of this Court dated 24.07.2019. The details of the Demand Drafts are as follows:

KRISHNAN RAMASAMY, J arr Sl.No.

D.D.No./Date Amount Name of the Bank 1.

011987/05.08.2019 Rs.50,00,000/- HDFC Bank 2.

927165/05.08.2019 Rs.50,00,000/- Oriental Bank of Commerce 3.

501114/05.08.2019 Rs.50,00,000/- ICICI Bank

4. The Registrar General, Madras High Court is directed to encash the aforesaid Demand Drafts and deposit the same in the Interest bearing Account for a period of three months and shall be renewed periodically.

5. This Application is ordered accordingly.

07.08.2019 (1/2) arr Application No.5618 of 2019 in C.S.No.410 of 2019