2009 (12) TMI 1019

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....HE PETITIONER ORAL ORDER 1.0 The petitioner by way of this petition has prayed for directing the respondent No.1 to decide the application of the petitioner at Annexure-D forthwith and to intimate the parties the outcome of the same; and further directing to lodge the prosecution against the respondent No.1 on the ground that non-production of licence and non-obtaining licence is an offence ....

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.... sum of Rs. 24 crores from the petitioner calculating the interest at the rate of 146% per annum. Therefore, disputes arose between the petitioner and respondent No.3 and as per the terms of the loan agreement, the matter was referred for arbitration. 2.2 During pendency of proceedings before the Arbitrator, Miscellaneous Application No.636 of 2006 was filed by the loaner before the Ahmedabad C....

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....dent No.3 was granted the liberty to withdraw the said amount on furnishing the requisite bank guarantee. Pursuant to the above order of this Court, the petitioner deposited the said amount with the trial Court within the stipulated period. Thereafter, an application was made by the loaner at Ex.36 for withdrawal of amount, but since the Court imposed the condition of producing solvent surety of R....

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.... any action against the respondent No.3. Hence, this petition. 3.0 During the course of hearing, Mr.J.K. Shah, learned Assistant Government Pleader, on the instructions received from Mr.C.M. Parmar, Assistant District Registrar and Ms.Prajapati, Inquiry Officer, who are present in the Court, states that the respondent No.1 will decide the application pending before it, at Annexure-D at page No.....