Disposed

Ashik Woollen Mills Ltd. and Ors. v. the State of Maharashtra

Bombay HC15 Feb 2005WP/148/2005

Case brief

AI extract

What is this about?

In a writ petition challenging a recovery certificate and attachment order, the court accepted the petitioners undertaking to convert post-dated cheques and pay the balance amount within specified timelines. The appeal was disposed of directing no attachment sale during the interim.

What did the court decide?

Petition disposed of; attachment not to be converted into sale during interregnum; no further directions necessary.

Ashik Woollen Mills Ltd. and Ors. Vs the State of… — Banking and Recovery | Bombay HC (2005)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE

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WRIT PETITION NO.148 OF 2005 Ashik Woollen Mills Ltd. & Ors. : Petitioners V/s. State of Maharashtra & Ors. : Respondents

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: Respondents

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Mr.S. G. Aney with Mr. Milind Vasudeo instructed by M/s.Bhaishankar Kanga & Girdharlal for the petitioners.

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Mr.Shailesh Shah instructed by Mr.V. Deshpande for respondent No.2.

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Mr.Joseph instructed by M/s.Joseph & Associates for respondent Nos.5 & 6.

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CORAM : DALVEER BHANDARI, C.J. & S.A. BOBDE, J.

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DATE : FEBRUARY 15, 2005.

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P.C. :

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1. The petitioners have approached this Court for quashing

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the recovery certificate dated 30.11.2004 amounting to Rs.5,51,96,292/- issued by respondent No.4, Assistant Registrar of

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Co-operative Societies.

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The short contention of the petitioners is that respondent

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no.2 admittedly has post-dated cheques of the amount of

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Rs.5,41,27,583/-. The petitioners undertake to get these cheques converted into Banker' s cheque or Draft and give it to respondent No.2 on or before 31.3.2005. The petitioners further undertake that

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the balance amount and interest, if any, would be paid to the petitioners on or before 30.4.2005. It is made clear that in case the petitioners fail to get the post-dated cheques of the amount of Rs.5,41,27,583/- converted into Banker's cheque or Draft on or before 31.3.2005, this Petition shall stand dismissed. The learned counsel appearing for the parties agree that during the interregnum, the attachment shall not be converted into sale of the property. In case the petitioners are not able to get the entire amount of Rs.5,51,96,292/- from other sources, the deficiency they would be permitted to make good themselves, but they would give respondent no.2 the entire amount of Rs.5,51,96,292/- on or before 31.3.2005. No further directions are necessary. This Petition is, accordingly, disposed of.

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Sd/- CHIEF JUSTICE

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Sd/-

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S.A. BOBDE, J.

Ashik Woollen Mills Ltd. and Ors. v. the State of Maharashtra

Case brief

What is this about?

What did the court decide?

Ashik Woollen Mills Ltd. and Ors. v. the State of Maharashtra

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

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