NEELDEEP INVESTMENTS PRIVATE LIMITED Vs. CUSTODIAN
LAWS(SC)-2006-1-89
SUPREME COURT OF INDIA
Decided on January 20,2006

Neeldeep Investments Private Limited Appellant
VERSUS
CUSTODIAN Respondents


Cited Judgements :-

UNION OF INDIA VS. B C BIYANI [LAWS(BOM)-2009-10-103] [REFERRED TO]


JUDGEMENT

- (1.)It is proposed by learned counsel appearing on behalf of the appellant that his client will pay an amount of Rs 1,26,25,000.00 (Rupees one crore twenty-six lakhs and twenty-five thousand) being the balance of the decretal amount of Rs 1,42,00,000.00 (Rupees one crore and forty-two lakhs) less an amount of Rs 15,75,000.00 (Rupees fifteen lakhs seventy-five thousand) paid by the garnishee in three instalments in the course of 2006. The first instalment shall be paid on 3/4/2006; the second on 10/7/2006 and the third by 4/12/2006.
(2.)The learned Solicitor General appearing on behalf of the Custodian has submitted that as far as contempt proceedings are concerned, his client is willing to accept the offer of the appellant but submits that this should not in any way affect the ultimate liability of the appellant to pay the decretal amount.
(3.)In this view of the matter we adjourn the passing of the order on the basis of the consent as arrived at between the parties, till 3/4/2006 when the petitioner will bring the first instalment of the amount to the Court. In the event the payment of all the instalments is made as aforesaid, this appeal will stand allowed and the order of the High Court will stand set aside and the garnishee notice will be discharged.


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