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1986 DIGILAW 474 (SC)

Everest Gema v. Ishwar Lal Prabhulal Parekh & Co.

1986-10-21

G.L.OZA, P.N.BHAGWATI

body1986
ORDER : Parties are agreed that the first and second respondents will take delivery of the goods in question which are at present lying in cold storage with Customs Authorities on payment of Rs. 1,17,26,165/- toer with interest on the same calculated at the rate of 18% per annum with effect from 16th October 1986 upto the date of payment. This amount will be paid and delivery of the goods will be taken within 4 weeks from today. This order is conditional on the 1st and 2nd respondents depositing with the Prothonotary and Senior Master of the Bombay High Court a sum of Rs. 30 lakhs on or before 30th October, 1986 as and by way of security for payment of the aforesaid amount against delivery of the goods in question, within the stipulated period. If the sum of Rs. 30 lakhs is not deposited by respondents Nos. 1 & 2 with the Prothonotary and Senior Master on or before 30th October 1986, the petitioners will be at liberty to take delivery of the goods in question against payment of the redemption fine and other monies due from them. If for any reason whatsoever, the 1st and 2nd respondents do not make payment of the aforesaid amount and take delivery of the goods in question within stipulated period, the sum of Rs. 30 Lakhs deposited with the Prothonotory and Senior Master will stand forfeited and it will be handed over by the Prothonotory and Senior Master to the petitioners unconditionally. If on the other hand, the 1st and 2nd respondents make payment of the aforesaid amount and take delivery of his goods in question within the stipulated Period, the sum of Rs. 30 Lakhs deposited by them with the Prothonotory and Senior Master shall be returned by the Prothonotory and Senior Master to them forthwith. This order will not be regarded as a precedent for any future imports which may be made.