NMS2344-09

1

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION

NOTICE OF MOTION NO.2344 OF 2009

IN

SUIT NO.1598 OF 2009

K.Marmo Pvt.Ltd.

.. Plaintiff

Versus

National Flask Industries Ltd.

.. Defendants

Mr.Zal Andhyarujina with H.N.Thakore & Jyoti Ghag i/b. Thakore

Jariwala & Associates for plaintiff

Mr.R.S.Apte, Senior Advocate with N.R.Bubna for defendant No.1.

CORAM : S.C.DHARMADHIKARI, J.

DATE : 19th November 2010.

P.C.:

1]

The plaintiff is a company incorporated under the Companies

Act, 1956 so also is the defendant No.1.

2]

First defendant as owner of the property (Industrial plot) more

particularly described at Exh. A to the plaint, agreed under an MOU to

sell it to the plaintiffs on the terms and conditions particularly set out

NMS2344-09

2

therein. The MOU and the supplemental writing are annexed as

Exh.B and C to the plaint. Under the MOU, a total sum of Rs.2.95

Crores was to be paid by plaintiff to defendant No.1.

3]

Clause 3 of the MOU states that the property was mortgaged to

State Bank, Shamrao Vitthal Bank and North Canara Bank and to

release from the mortgage the Banks’ NOC was required. The

obligations of the