IN THE HIGH COURT OF BOMBAY AT GOA MISC.CIVIL APPLICATION NO. 653 OF 2006 IN FIRST APPEAL NO. 3 OF 1998 DR. JAGADISH J.N. COUNTO, BAMBOLIM ....Applicant - GOA. Versus STATE OF GOA THROUGH LAND ....Respondent ACQUISITION OFFICER, PANAJI GOA. Mr. V.A. Lawande, Advocate for the Applicant. Ms. W. Coutinho, Govt. Advocate for the Respondent. Coram:- P.V. KAKADE, J. Date:- 6th October, 2006 P.C.: Heard Advocate for the Applicant as well as Goverment Pleader for the respondent. This is an application for production of alternate Solvency Certificate and withdrawal of balance interest, seeking permission to produce alternate Solvency Certificate either from the Collector of Goa or State Bank of India, Panaji to the extent of Rs. 11,00,000/-, relieving him from the undertaking given on 23/04/2003 for receipt of Rs. 9,24,500/-, so as to enable him to sell the impugned flat. He has also sought permission to withdraw the interest amount arrued from the last date of calculation of interest by Land Acquisition Officer, P.W.D., on behalf of State i.e. 01/03/2002, to withdraw the deposited amount and further interest on the balance interest. Earlier, by order dated 27/06/2002, the present applicant was allowed to withdraw the amount deposited by the State, after furnishing Bank Guarantee for 50% of the withdrawl and balance withdrawal was directed subject to the Solvency Security to the satisfaction of the Additional Registrar. Said order was by consent of the parties. Subsequently, by order dated 04/04/2003, the applicant was permitted to give Sovency Certificate himself, as he had also done so in respect of the flat. The Solvency Certificate was accepted by the office subject to verification and petitioner filing an undertaking not to deal with, dispose of, alienate, encumber or create any third party right, title and/or interest in, to, upon, or in respect of the said flat. On this background, the present application is made submitting that due to unavoidable circumstances, he wants to dispose of the flat urgently and for that purpose, he has sought permission to get the flat released of his undertaking and has offered to give alternate Solvency Certificate. For that purpose today, he has brought the letter of Assistant General Manager, State Bank of India, Panaji Branch dated 05/10/2006, stating that the Bank is prepared to issue Solvency Certificate for Rs. 11,00,000/-, to the applicant and Bank is ready to follow instructions whatever are issued by this Court. The said letter is taken on record and marked 'X' for identification. In view of this position, I do not see any reason why the applicant should not be granted permission to give alternate security after relieving him from undertaking, furnished earlier consequent to the Court order. He would also be entitled to collect the accrued interest on the earlier amount. In view of the facts and circumstances, application is therefore, allowed in terms of prayer clause (a) and (b). It is clarified that the amount of Rs. 11,00,000/- lying in the account of the applicant with Panaji Branch of State Bank of India shall be locked in the said account, pending the appeal and shall not be dealt with in any manner whatsoever, either by the applicant or by the Bank, without permission of this Court as the said amount is being offered as alternate security for the amount which is withdrawn by the applicant earlier. With these directions, the application stands disposed of with no orders as to costs. P.V. KAKADE, J. NH