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Lmj International Ltd vs Sleepwell Industries Co. Ltd on 5 March, 2018

Bench: Chief Justice, A.M. Khanwilkar, D.Y. Chandrachud

     ITEM NO.3                              COURT NO.1                   SECTION XVI

                                 S U P R E M E C O U R T O F          I N D I A
                                         RECORD OF PROCEEDINGS

     Petition(s) for Special Leave to Appeal (C)                  No(s).540/2018

     (Arising out of impugned final judgment and order dated 22-08-2017
     in GA No.3306/2016 passed by the High Court At Calcutta)

     LMJ INTERNATIONAL LTD                                                 Petitioner(s)

                                                    VERSUS

     SLEEPWELL INDUSTRIES CO. LTD                                          Respondent(s)

     (As per R.P. dated 05.01.2018, call on 05.03.2018 for final
     disposal.)


     Date : 05-03-2018 This petition was called on for hearing today.

     CORAM :
                          HON'BLE THE CHIEF JUSTICE
                          HON'BLE MR. JUSTICE A.M. KHANWILKAR
                          HON'BLE DR. JUSTICE D.Y. CHANDRACHUD


     For Petitioner(s)               Mr. Ajit Kumar Sinha, Sr. Adv.
                                     Mr. Vikash Sethi, Adv.
                                     Mr. Deepak Goel, Adv. [AOR]

     For Respondent(s)               Mr.   Rakesh Sinha, Adv.
                                     Mr.   Pinaki Addy, Adv.
                                     Mr.   Shailendra Jain, Adv.
                                     Ms.   Sharda Garg, Adv.
                                     Mr.   Chira Ranjan Addy, Adv. [AOR]

                           UPON hearing the counsel the Court made the following
                                              O R D E R

This Court, on 05.01.2018, while issuing notice, has directed as follows :

“Delay condoned.

SUBHASH CHANDER Issue notice.

As Mr. Shyam Diwan, learned senior counsel along with Mr. Chira Ranjan Reddy, learned counsel has entered appearance on behalf of the respondent, no further notice need be issued.

SLP(C)No.540/18 ... (contd.)

- 2 -

We have been apprised that Rs.1.8 crore has already been deposited before the Calcutta High Court and Rs.3.24 crore has been secured by way of bank guarantee. The respondent- company will be entitled to withdraw Rs.1.8 crore without furnishing any guarantee or security.

Needless to say, the said withdrawal shall be subject to final adjudication of the present matter.

Call on 05.03.2018 for final disposal. As agreed to by the learned counsel for the parties, it shall be taken up on that day at 2.00 P.M.” It is submitted by learned counsel for the respondent that he is not in a position to withdraw the amount as the respondent- company has its headquarters in Thailand.

Though we have taken note of the said submission, we direct the concerned Registrar of the High Court of Calcutta to release the amount, that has been deposited before it, in favour of the respondent subject to obtainment of permission of remittance from the competent authority of the Reserve Bank of India.

List after four weeks.

             (Subhash Chander)                                  (H.S. Parasher)
                AR-cum-PS                                     Assistant Registrar