State Trading Corporation of India Ltd. v. M/s. Global Steel Holding Limited and Ors.

(Dipak Misra and Prafulla C. Pant, JJ.)

State Trading Corporation of India Ltd. _________________ Petitioner

v.

M/s. Global Steel Holding Limited and Ors. __________ Respondent(s)

(with appln. (s) on behalf of Respondent Nos. 1 and 2 for adjourning the criminal complaints under Section 138 of the Negotiable Instruments Act, pending before Patiala House Courts, Delhi and office report)

I.A. No….. of 2015 in Petition(s) for Special Leave to Appeal (C) No(s). 14585/2015, decided on October 12, 2015

The Order of the court was delivered by

Order

1. It is submitted by Mr. Kapil Sibal, learned senior counsel appearing for the respondents that the petitioner is proceeding under Section 138 of the Negotiable Instruments Act, 1881 on the foundation that the amount is payable. It has been further submitted that there is no dispute that the amount is payable, though there might be some dispute with regard to the figure.

2. Be that as it may, as directed earlier, Rs. 70 crores shall be paid to the petitioner – Corporation by 7^th December, 2015.

3. As directed earlier, the matter shall be taken up on 14^th December, 2015, on which date, the respondents shall file a schedule of payment so that this Court can be apprised of the nature of commitment already made by the respondents and also the attitude to make the payment in a rational manner.

4. In view of the above, the proceedings under Section 138 of the Negotiable Instruments Act shall not proceed till 14^th December, 2015.

5. I.A. No… of 2015 is, accordingly, disposed of.

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