1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPELLATE JURISDICTION CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.3591 OF 2005 CIVIL APPLICATION NO.3591 OF 2005 CIVIL APPLICATION NO.3591 OF 2005 IN IN IN FIRST APPEAL NO.1142 OF 2002 FIRST APPEAL NO.1142 OF 2002 FIRST APPEAL NO.1142 OF 2002 Virendra Engineering Co. & Ors. ...Applicants Vs. State of Maharashtra & Ors. ...Respondents ----- Mr.Y.C.Dhebar i/b. M/s. Dhebar & Shah for Applicants Mr.K.K.Tated for Respondents CORAM: H.L.GOKHALE & CORAM: H.L.GOKHALE & CORAM: H.L.GOKHALE & SMT.R.S.DALVI,JJ. SMT.R.S.DALVI,JJ. SMT.R.S.DALVI,JJ. DATED: 22ND AUGUST, 2005 DATED: 22ND AUGUST, 2005 DATED: 22ND AUGUST, 2005 P.C. P.C. P.C. 1. Heard Mr. Dhebar in support of this 1. Heard Mr. Dhebar in support of this 1. Heard Mr. Dhebar in support of this Application. Mr. Tated appears for Respondents. Application. Mr. Tated appears for Respondents. Application. Mr. Tated appears for Respondents. 2. The Application prays that the amount which is 2. The Application prays that the amount which is 2. The Application prays that the amount which is to be withdrawn on giving a Bank guarantee should be to be withdrawn on giving a Bank guarantee should be to be withdrawn on giving a Bank guarantee should be allowed to be withdrawn by giving a solvency allowed to be withdrawn by giving a solvency allowed to be withdrawn by giving a solvency certificate. The matter had been heard by the certificate. The matter had been heard by the certificate. The matter had been heard by the Division Bench earlier which passed the order on 12th Division Bench earlier which passed the order on 12th Division Bench earlier which passed the order on 12th October, 2004 allowing the Applicant to withdraw October, 2004 allowing the Applicant to withdraw October, 2004 allowing the Applicant to withdraw Rs.21,87,200.60 without security. He had to give Rs.21,87,200.60 without security. He had to give Rs.21,87,200.60 without security. He had to give security for the remaining amount. Mr. Dhebar says security for the remaining amount. Mr. Dhebar says security for the remaining amount. Mr. Dhebar says that it is not possible for the Applicant to obtain that it is not possible for the Applicant to obtain that it is not possible for the Applicant to obtain the Bank guarantee which was directed by way of the Bank guarantee which was directed by way of the Bank guarantee which was directed by way of security. The amount is deposited and is lying in the security. The amount is deposited and is lying in the security. The amount is deposited and is lying in the trial Court. trial Court. trial Court. 2 3. In the above circumstances we direct the trial 3. In the above circumstances we direct the trial 3. In the above circumstances we direct the trial Court to invest the remaining amount in a Nationalised Court to invest the remaining amount in a Nationalised Court to invest the remaining amount in a Nationalised Bank for a period of 37 months and to continue to Bank for a period of 37 months and to continue to Bank for a period of 37 months and to continue to renew the same by 13 months at a time until further renew the same by 13 months at a time until further renew the same by 13 months at a time until further orders are received. orders are received. orders are received. . The Civil Application is disposed off. . The Civil Application is disposed off. . The Civil Application is disposed off. (H.L.GOKHALE,J.) (H.L.GOKHALE,J.) (H.L.GOKHALE,J.) (SMT.R.S.DALVI,J.) (SMT.R.S.DALVI,J.) (SMT.R.S.DALVI,J.)