Single judge order granting interim relief for detention of decretal amount deposit in civil application filed during arbitration appeal.
Interim order for detention of decretal amount deposit in court pending withdrawal by respondent on furnishing bank guarantee.
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acd
IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION
CIVIL APPLICATION NO. 15 OF 2013 IN
ARBITRATION APPEAL NO. 18 OF 2013
National Highways Authority of India
. Applicant.
Vs.
M/a Ashoka Buildcom Ltd.
(Joint Venture with Birla GTM Enterpose Ltd) ..Respondent.
Mr. S.K. Chari i/b M.V. Kini & Co.,for Applicant. Mr. R.S. Apte with A.A. Garge, the Respondent.
CORAM : R.D. DHANUKA, J. DATE : APRIL 01, 2013.
PC.
1 On applicant depositing the entire decretal amount with interest within a period of 6 weeks from today in this court, there shall be interim relief in terms of prayer clause (a) of the application.
2 It is made clear that if the amount as directed is not deposited, the interim order shall stand vacated without further reference to the court. On depositing the amount by the applicant, the respondent would be at liberty to
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withdraw the said amount on furnishing the bank guarantee of nationalized bank in the name of Registrar General of this court of the decretal amount with interest thereon @ 9% per annum initially for a period of two years.
3 If the respondent does not seek to withdraw the amount as directed, the Registrar General to invest the same in fixed deposit for a period of two years in nationalized bank.
4 Hearing of the appeal is expedited. Both parties to file joint compilation of pleadings and documents in this court within 4 weeks.
5 Civil application is disposed of.
R.D. DHANUKA, J.
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M/a Ashoka Buildcom Ltd.
R.D. Dhanuka
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
