American Merchandizing Ltd v. Lic

19.01.2022 (S/L-01) Ct.-18 (P. Jana) (Via Video Conference) C.O. 3705 of 2018 American Merchandizing Ltd.

-Vs- Life Insurance Corporation of India Ltd.

Mr. Chayan Gupta, Ms. Jayati Chowdhury, Mr. Soumyajit Nandy, Mr. Rithick Chowdhury, Mr. Asuthosh Singh, .... For the Petitioner.

Ms. Tanushree Dasgupta, Mr. Sounak Mondal, ... For the Opposite Party/LICI.

Mr.

Chayan Gupta, learned advocate, appears on behalf of the petitioner and submits that the dispute between the parties has been amicably settled, as such, the petitioner is not willing to proceed with the revisional application. C.O. 3705 of 2018 is dismissed as not pressed without any order as to costs.

Mr. Gupta, however, prays that in terms of the order passed in the connected appeal, a sum of Rs.5,00,000.00 (Rupees five lakhs) has been deposited by the petitioner with the learned Register, City Civil Court, Calcutta and he prays that necessary directions may be passed allowing the opposite party/LICI to withdraw the said amount.

Leave is granted to the parties to approach the Appeal Court below for an appropriate order permitting the opposite party to withdraw the said amount subject to the satisfaction of the Appeal Court below.

Notwithstanding the disposal of the said appeal, the Appeal Court below shall consider the said prayer of the parties in accordance with law.

Urgent photostat certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities. (Biswajit Basu, J.)