IN THE HIGH COURT OF BOMBAY AT GOA MISC.CIVIL APPLICATION NO. 458 OF 2008 IN FIRST APPEAL NO. 280 OF 2007 M/S. MAINI SHIPPING PVT. LTD. ... Applicant Versus M/S. RESOURCES INTERNATIONAL AND 2 ORS., ... Respondents Mr. Mahesh Sonak, Advocate for the applicants. Mr. Coelho Pereira, Senior Advocate with Mr. J. Godinho, Advocate for the respondents. Coram:- S.C. DHARMADHIKARI & R.C. CHAVAN, JJ. Date:- 4th August, 2008 P.C. 1. This is an application for withdrawal of money which has been deposited by the respondents/original appellants in this Court. The amount deposited is Rs.87,49,399.35 which is now invested and we are now informed that interest has been accruing thereon. 2. The appeal is directed against the judgment and decree dated 21.06.2007 of the learned Civil Judge, Senior Division, Panaji. The applicants' Special Civil Suit No.99/2001/B has been decreed. The decree is undisputedly directing the original appellants to jointly and severally pay interest, to the respondents in the appeal, at the rate of 2% per month on the principal amount of Rs.1,26,93,014.71 from 01.09.2001 till the date of decree with further interest at the rate of 11% per annum from the date of decree till the actual payment. 3. The appeal has been admitted and stay of execution and implementation of the subject decree has been granted upon the appellants depositing in this Court the sum specified in the order in that behalf. 4. This application for withdrawal is contested by the Judgment Debtor on the ground that the suit itself was instituted for claiming interest. The original appellant has paid a sum of Rs.1,46,60,472.66 already. The amount of interest as decreed has been secured by depositing the same in the Court. In these peculiar circumstances, there is no warrant for permitting withdrawal of the money and that too, considering the nature of the dispute between the parties. The above stand taken in paragraph 7 of the affidavit is relied upon by the Senior Advocate Shri Coelho Pereira appearing for the judgment debtor. 5. On the other hand, Mr. Sonak, Advocate appearing for the decree holder submitted that this is money decree. Initially entire decreetal sum was not deposited and only Rs.30,44,719.02 were deposited in this Court and later on, on application subsequent sums have been deposited. In such circumstances and when the decreetal amount is much more than the sum deposited, withdrawal be allowed subject to such terms as this Court may deem fit to impose. 6. After perusing the application so also the reply, we are of the view that the substantial sum which is deposited in the Court and the Decree Holder is before us praying for withdrawal of the same. The decree holder is a Private Limited Company. The dispute between the parties is in regard to Interest. The appeal is not likely to be heard immediately or in near future. The application for withdrawal can be granted subject to the applicant furnishing security. The security may be in the form of bank guarantee. The Civil application is made absolute in terms of prayer clause (a) subject however to the Decree holder/respondent furnishing security to the satisfaction of the Registry of this Court. The respondent/Decree holder would have to abide by such orders interim or final including, bringing back the amount in the Court with interest. Subject to the above, application for withdrawal is granted. No costs. S.C. DHARMADHIKARI, J. R.C. CHAVAN, J. lh/.