Bombay High Court
Rajendra S/O Jugalkishore ... vs The Akola Janata Commercial ... on 9 February, 2022
Bench: S.B. Shukre, Anil Laxman Pansare
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY,
NAGPUR BENCH : NAGPUR.
CIVIL APPLICATION (C.A.W. NO.279/2022)
AND
WRIT PETITION NO.306/2022
1. Rajendra S/o Jugalkishore Gadodia,
aged about 61 Yrs., Occ. Business.
2. Narayan S/o Chhaganlal Gadodia,
aged about 72 Yrs., Occ. Business.
3. Lakhiprasad S/o Ramniwas Gadodia,
aged about 65 Yrs., Occ. Business.
4. Smt. Seema W/o Santosh Gadodia,
age about 53 Yrs., Occ. Housewife.
All Nos.1 to 4 R/o Gadodia Niwas,
Near Tilak Putla, Khamgaon,
Dist. Buldhana.
5. Ms Mangilal Chhaganlal Gadodia,
A Partnership Firm, through it's Partner
Mr. Madhusudan S/o Ramniwas Gadodia,
having their business at Hans Cotton
Compound, Near Tilak Putla, Khamgaon,
Dist. Buldhana. ..Petitioners.
..Vs..
1. The Akola Janata Commercial Co-operative
Bank Ltd., A Multi State Schedule Cooperative
Bank, having it's branch office at Shriram
Chowk, Pharshi Road, Khamgaon,
Dist. Buldhana.
2. Authorized Officer,
The Akola Janta Commercial Cooperative
Bank Ltd., having office at Shriram Chowk,
Pharshi Road, Khamgaon, Dist. Buldhana. ..Respondents.
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Dr. Mrs. Renuka S. Sirpurkar, Advocate for the petitioners.
Mr. R.L. Khapre, Senior Advocate with Mr. D.R. Khapre, Advocate for respondent
Nos.1 and 2.
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CORAM :- SUNIL B. SHUKRE AND
ANIL L. PANSARE, JJ.
DATED :- 9.2.2022.
ORAL JUDGMENT (Per Sunil B. Shukre, J.)
Hearing is conducted through Video Conferencing and all the
learned Advocates agreed that the audio and visual quality was proper.
2. Heard. Rule. Rule made returnable forthwith. Heard finally
by consent.
3. The petitioners have made a request for grant of extension of
time to comply with the conditions of the order dated 19.1.2022 and
have filed Civil Application (C.A.W.) No.279/2022 for the same.
4. Taking a sympathetic view, we find ourselves inclined towards
extending the time accordingly.
5. We, therefore, direct, in modification of the order dated
19.1.2022, the petitioners now shall deposit with respondent No.1
bank an amount of Rs.1.5 Crores latest by 28.2.2022. The petitioners
shall also deposit with respondent bank amount of Rs.1.5 Crores latest
by 25.3.2022. If the petitioners commit default in respect of deposit
of any of the above referred amounts, the bank shall be at liberty to
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proceed against the petitioners to enforce it's security interest, in
accordance with law. It is made clear that the deposit of the above
referred amounts, if made by the petitioners, shall be without
prejudice to the right of the bank to proceed against the petitioners for
recovery of it's outstanding dues, in accordance with law. We also
grant liberty to the petitioners to make a representation to respondent
bank for consideration of the petitioners proposal for reaching a one
time settlement of the dispute and if such a representation is made by
the petitioners, same shall be considered by respondent bank treating
it as a fresh proposal for settlement, in accordance with law. The
petition is partly allowed on the above terms. Rule accordingly. No
costs.
The Civil Application (C.A.W. No.279/2022) also stands
disposed of. No costs.
JUDGE JUDGE
Tambaskar.
Signed By:NILESH VILASRAO
TAMBASKAR
Private Secretary
Signing Date:09.02.2022 15:45
