1 87-caf 3477.10 w 4402.10 ndm IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO. 3477 OF 2010 WITH CIVIL APPLICATION NO. 4402 OF 2010 IN FIRST APPEAL NO. 1345 OF 2010 Lonavala Education Trust. ... Applicant Versus Renuka Kotak and others. ... Respondents ----- Ms Ashwini Takalkar i/b Mr. Nitin P. Deshpande for the Applicant. Mr. Sanjay Kshirsagar for Respondent No.1. ----- CORAM : A.S.OKA, J. DATE : 02 nd August, 2011. P.C. 1 First appeal preferred by the Applicant in Civil Application No.3477 of 2010 has been admitted for final hearing. In Civil Application No.3477 of 2010 which is filed by the Appellant for stay, this Court has granted stay subject to deposit of the entire decretal amount with this Court within a period of two weeks from 2 87-caf 3477.10 w 4402.10 the date of the order i.e. 4 th October, 2010. 2 Civil Application No.4402 of 2010 has been preferred by the Applicant / Appellant for modification of the order dated 4 th October, 2010. It is contended that the Applicant has been permitted by the University to start a new Science College, which will involve expenditure of Rs.25,00,000/-. Therefore, a prayer is made that instead of deposit of the decretal amount, the Applicant may be permitted to furnish bank guarantee for the amount. 3 The learned counsel appearing for the Applicant relied upon Government Resolution dated 7 th November, 2009 annexed to the Civil Application No.4402 of 2010. The learned counsel submitted that looking to the estimated expenditure of not less than Rs.25,00,000/- on the establishment of a new college, ad-interim relief granted earlier deserves to modified by permitting the Applicant to secure the entire amount by giving a bank guarantee. 3 87-caf 3477.10 w 4402.10 4 I have carefully considered the submissions. The finding of the trial Court is that even the accounts maintained by the Applicant – Trust show that the Applicant is liable to pay the amount to the Plaintiffs. Therefore, the Applicant will have to deposit the entire decretal amount as a condition for grant of stay. Though the prayer made in the Civil Application No.4402 of 2010 cannot be granted, sufficient time deserves to be granted to the Applicant to deposit the decretal amount. Considering the fact that the Applicant is required to incur expenditure on a new college, longer time deserves to be granted. 5 Hence, the applications are disposed of by passing the following order: i. There will be interim relief in terms of prayer clause (A) of the Civil Application No.3477 of 2010 subject to Applicant depositing the entire decretal amount in this Court on or before 30 th November, 2011. If compliance is not made 4 87-caf 3477.10 w 4402.10 within the stipulated time, stay will stand vacated without further reference to the Court ; ii. The Civil Application No.4402 of 2010 is rejected ; iii. As and when the amount is deposited by the Applicant, the same shall be invested in fixed deposit in any nationalized bank ; and iv. This direction will be without prejudice to the rights of the original plaintiffs to apply to this Court for permission to withdraw the decretal amount. [ A.S.OKA, J ]