Calcutta High Court (Appellete Side)
Kc Hrishikesh Heemghar Private Limited ... vs The West Bengal Financial Corporation & ... on 14 February, 2018
Author: Debangsu Basak
Bench: Debangsu Basak
1
22
14.02.2018
W.P. No. 3318(W) of 2018 KC Hrishikesh Heemghar Private Limited & Anr.
Vs. The West Bengal Financial Corporation & Ors. Mr. Joy Saha Mr. Koushik Pradhan.
... for the petitioners.
Mr. Joydeep Kar Mr. Aritra Basu Mr. Abhijit Sarkar Mr. Abhik Chitta Kundu.
... for the WBFC.
The petitioner seeks specific performance of the settlement arrived at between the parties.
Learned senior advocate for the petitioner submits that, the petitioner had entered into a settlement with the West Bengal Financial Corporation (WBFC) for full and final settlement of the dues at Rs.5.20 crores. Out of such settled amount, the petitioner had paid a sum of Rs.1.30 crores. The petitioner is in a position to pay another sum of Rs.25 lakhs within seven days. He submits on instruction that, the balance amount of Rs.3.65 crores will be paid by the petitioner by March 31, 2018. He points out that, the WBFC has already taken possession of the property. He seeks stay of the sale of such properties in the meantime.
Learned senior advocate for the WBFC submits that, the petitioner had failed to pay in terms of the settlement. The one time settlement is, therefore, no longer enforceable. There are huge 2 understandings of the petitioner. No interim order is called for.
Having heard the rival contentions of the parties, in my view, interest of justice would be sub-served by allowing the petitioner to pay a sum of Rs.50 lakhs within seven days from date. This payment will be without prejudice to the rights and contentions of the parties. This payment is directed to be made to consider the bona fides of the petitioner at the interim stage. WBFC will not proceed any further till March 2, 2018 or until further orders, whichever is earlier.
List the writ petition on February 23, 2018 under the same heading for further consideration.
Urgent certified website copies of this order, if applied for, be made available to the parties upon compliance of the requisite formalities.
(Debangsu Basak, J.)