Disposed

Vjtf Eduservices Ltd. (Formerly Known as Artheon Finance Ltd) and Anr. v. the State of Maharashtra and 4 Ors.

Bombay HC1 Feb 2018WP/387/2018

Case brief

AI extract

What is this about?

The court held that the writ petition need not be entertained due to the availability of an efficacious remedy. The petitioners were directed to file an appeal and deposit the amount before the appellate authority within 15 days and two months respectively. The Bank was directed to issue a Pay Order and the attachment was revoked upon compliance. The writ petition was disposed of.

What the court decided

AI extract

Vjtf Eduservices Ltd. (Formerly Known as Artheon Finance… — Banking and Recovery | Bombay HC (2018)

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WPL334_18.doc

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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WRIT PETITION (L) NO.334 OF 2018

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VJTF Eduservices Limited (formerly known as Artheon Finance Limited) and another … Petitioners Vs. The State of Maharashtra and others … Respondents

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Dr. Abhinav Chandrachud a/w. Mr. Akshay Puranik, Ms Yasmin Godrej and Ms Priyanka Deshmukh i/b. Crawford Bayley and Co. for Petitioners. Ms Geeta Shastri, AGP for Respondents No.1 to 3-State. Mr. Harish Pawar for Respondent No.4. Mr. Manoj Jain, CFO of VJTF Eduservices Limited present.

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CORAM : R. M. BORDE & R. G. KETKAR, JJ. DATE : FEBRUARY 01, 2018

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P.C. :

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In view of the availability of alternate efficacious remedy for redressal of the grievance of the petitioners raised, the instant Petition need not be entertained. The Counsel appearing for the petitioners, on instructions, states that the petitioners would tender an appeal before the appellate authority within a period of 15 days from today. It is further stated, on instructions, by the Counsel appearing for the petitioner that the petitioner would deposit the amount statutorily required to be deposited before the appellate authority within a period of two months from today.

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The Counsel appearing for the respondent No.4-Bank states that in pursuance of the notice issued by the Deputy Superintendent (Stamps), Mumbai, the bank account of the petitioners operated at the respondent No.4 Bank has been attached. It is further contended that the amount under the attachment is to the tune of Rs.1,44,48,822/-, which is

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WPL334_18.doc

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equivalent to the amount recoverable by the Stamp Authority from the petitioners.

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The appellate authority shall grant time in respect of deposit of amount for entertaining an appeal, as recorded above. On compliance of requirement in respect of deposit of amount by the appellants before the appellate authority, the said authority shall proceed to decide the appeal on its own merits and in accordance with law and the appeal shall be disposed of as expeditiously as possible, preferably within a period of two months from the date of deposit of the amount by the petitioners. All contentions raised in the instant Petition are specifically kept open for consideration by the appellate authority.

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Respondent No.4 Bank shall draw a Pay Order for an amount of Rs.1,44,48,822/- in the name of the Superintendent of Stamps, Mumbai and shall forward the said Pay Order to the Collector of Stamps, Mumbai within a period of one week from today.

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On compliance of the aforesaid directions, the attachment of the bank accounts of the petitioner maintained with the respondents No.4 and 5 shall stand revoked.

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With the aforesaid directions, Writ Petition is disposed of. All parties to act on the authenticated copy of this order.

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(R. G. KETKAR, J.)

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(R. M. BORDE, J.)

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Minal Parab

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Vjtf Eduservices Ltd. (Formerly Known as Artheon Finance Ltd) and Anr. v. the State of Maharashtra and 4 Ors.

Case brief

What is this about?

What the court decided

Vjtf Eduservices Ltd. (Formerly Known as Artheon Finance Ltd) and Anr. v. the State of Maharashtra and 4 Ors.

Case brief

What is this about?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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