Disposed

Pandurang Dadarao Bansode v. the Maharashtra Industrial Development Corporation Thr Regional Officer, M.I.D.C. Latur and Anr.

Bombay HC10 Oct 2017CA/3583/2017

Case brief

AI extract

What is this about?

The High Court of Judicature at Bombay Bench at Aurangabad disposed of Civil Application No. 3583/2017, permitting the applicant to withdraw fixed deposit interest upon furnishing solvent security. If not, the Registrar will reinvest the amount for two years.

What did the court decide?

Applicant permitted to withdraw fixed deposit interest by furnishing solvent security; bank guarantee to be cancelled if security is provided.

Pandurang Dadarao Bansode Vs the Maharashtra… — Contract and Commercial Disputes | Bombay HC (2017)

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(1) CA No. 3583/2017 & anr.

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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BENCH AT AURANGABAD.

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CIVIL APPLICATION NO. 3583 OF 2017

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IN

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FIRST APPEAL NO. 2221 OF 2010

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Pandurang Dadarao Bansode

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Applicant.

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Versus

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The Maharashtra Industrial Development
Corporation, Through Regional Officer,
M.I.D.C. Latur and another

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Respondents.

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***

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Mr. V.D. Gunale, Advocate for applicant.

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Mr. S.S. Dande, Advocate for respondent No.1.
Mr. B.A. Shinde, A.G.P. for the State.

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***

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CORAM : R.D. DHANUKA &
SUNIL K. KOTWAL, JJ.

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Dated : 10-10-2017.

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PER COURT :-

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1.We have heard learned Counsel appearing for
the applicant and Acquiring Body and have perused the
order passed by the Supreme Court on 16.09.2015 in
Civil Appeal No. 13415 of 2015 and also the order dated
18.09.2017 passed by this Court in Civil Application

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(2) CA No. 3583/2017 & anr.

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No. 3689 of 2017 in First Appeal No. 2124 of 2010 and
other companion matters.

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2.Mr. Dande, learned Counsel for Acquiring Body
has no objection if the relief is granted in favour of
the applicant on the same basis on which this Court has
already allowed the relief vide order dated 18.09.2017,
clarified order dated 25.09.2017 and further clarified
clarified order dated 28.09.2017.

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3. The statement is accepted.

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4.The applicant is permitted to withdraw the
interest amount accrued on the fixed deposit upon
furnishing solvent security to the satisfaction of the
Registrar (Judicial), who shall pass an order in
respect of such solvent security after hearing both the
parties. If any such solvent security is furnished by
the applicant, the same shall be kept alive till
disposal of First Appeal No. 2221 of 2010 and for a
period of four weeks thereafter. If any such solvent
security is furnished by the applicant, the bank
guarantee submitted by the applicant, referred in the

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(3) CA No. 3583/2017 & anr.

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Civil Application, shall be returned to the applicant
for cancellation within one week from such solvent
security if furnished by the applicant, before the
learned Registrar (Judicial).

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5.If solvent security is not furnished by the
applicant within the time prescribed by the learned
Registrar (Judicial), the amount of interest shall be
reinvested by the learned Registrar (Judicial) in the
fixed deposit of Nationalized Bank for a period of two
years and for like period after obtaining further
orders from this Court.

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6.The parties as well as the Registrar

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(Judicial) to act on the authenticated copy of this
order.

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7.Civil Application No. 3581 of 2017 is
disposed of in aforesaid terms. No order as to costs.

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( SUNIL K. KOTWAL)( R.D. DHANUKA)
 JUDGE JUDGE

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vdd/

Pandurang Dadarao Bansode v. the Maharashtra Industrial Development Corporation Thr Regional Officer, M.I.D.C. Latur and Anr.

Case brief

What is this about?

What did the court decide?

Pandurang Dadarao Bansode v. the Maharashtra Industrial Development Corporation Thr Regional Officer, M.I.D.C. Latur and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

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