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Judgment
Tarun Agarwala, Presiding Officer
We have heard Shri Prakash Shah, learned counsel for the Appellant and Shri Venkatesh Dhond, learned Senior Counsel assisted by Shri Rashid
Boatwala, learned counsel for the Respondent. After hearing the matter through video conferencing we grant four weeks time to the Respondent to
file a reply. Three weeks thereafter to the Appellant to file rejoinder. Let the matter be listed for hearing and for final disposal on 2nd September,
2020.
In the facts and circumstances of this case, we direct the Appellant to deposit a sum of Rs.Thirty lakhs within four weeks from today before the
Respondent which would be subject to the result of the appeal. The amount so deposited shall be kept in an escrow account. If the aforesaid amount
is deposited further recovery shall not be made pursuant to the impugned order.
Misc. Application Nos.160 and 135 of 2020 are disposed of accordingly.
Parties are directed to contact the Registrar 48 hours before the date fixed to find out as to whether the hearing would take place through video
conferencing or through physical hearing.
The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor a
certified copy of this order could be issued by the registry. In these circumstances, this order will be digitally signed by the Presiding Officer on behalf
of the bench and all concerned parties are directed to act on the digitally signed copy of this order. Parties will act on production of a digitally signed
copy sent by fax and/or email.