- (1.) The order impugned appears to be perfectly justified and the trial court was virtually at the end of its tether before rejecting the application for restoration of the suit. The suit had been dismissed twice before for default and some specious excuses were proffered in respect of the third dismissal.
(2.) It is submitted on behalf of the plaintiff that the matter pertains to shares held by the appellant in the first respondent-company and that such shares were apparently transferred to third parties without notice to the appellant. According to the appellant, the present value of the shares would be in excess of Rs. 50 lakh.
(3.) The appellant is afforded a final chance to prosecute the suit diligently. However, the appellant has to be put on terms. Subject to the appellant depositing a sum of Rs. 2 lakh with the trial court within three weeks from today, the order impugned dated June 17, 2016 will stand set aside and Misc. Case No. 644 of 2013 allowed by restoring Title Suit No. 319 of 2006 before the VII Bench, City Civil Court at Calcutta. Upon such deposit being made, the trial court will invest it by way of fixed deposit with any nationalised bank having its branch within the vicinity of the court. In the event the suit is decreed in favour of the plaintiff, the entire deposit together with the interest accrued thereon will be made over to the plaintiff. In the event, however, that the suit is dismissed for default any further, the entirety of the deposit, together with the interest accrued thereon will be made over to the first defendant-company by way of costs. In the event the suit is ultimately decided against the plaintiff, half of the deposit will be refunded to the plaintiff along with half of the interest accrued thereon and the balance principal amount and interest will be made over to the first defendant-company.;