2017 (9) TMI 1934

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....ajaria, Advocate For the Respondents: Mr. Aritra Basu, Mr. Ratul Das, Advocate ORDER This is an application for judgment upon admission. The claim in the suit is arising out of an inter corporate deposit of Rs. 5 crore created on 4th July 2011 for a period of three months. The transactions are not in dispute. It is also not in dispute that after the expiry period, the entire amount togeth....

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....f and Gati. It is submitted that unless the said arbitration proceeding is concluded and an award is passed, the respondent would not be liable for making any payment under the inter corporate deposit. It is submitted that the plaintiff has invested the aforesaid sum by way of an inter corporate deposit with an implied understanding that the said fund should be utilised for the hydroelectric proje....

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....mission of liability and in absence of any defence to the aforesaid claim, there shall be a decree for a sum of Rs. 10,83,55,294/-. In the event the aforesaid amount is paid by 20 monthly equal instalments commencing from 10th October 2017 and payable by the 10th day of each succeeding month, no interest is awarded on the aforesaid sum. However, in default in making payment of the first instalment....