IN THE HIGH COURT OF BOMBAY AT GOA CIVIL APPLICATION NO. 56 OF 2008 IN APPEAL FROM ORDER NO. 23 OF 2008 INDUSTRIAL FINANCE CORPORATION OF INDIA (IFCI) AND 3 ORS., ... Applicants Versus DUGAL PROJECTS DEVELOPMENT PVT. LTD. AND ANR., ... Respondents Mr. M. S. Usgaonkar, Senior Advocate with Ms. A. A. Razaq for the Applicants. Mr. Sunil Manohar with Mr. S. N. Joshi for the Respondent No.1. Coram:- S.A. BOBDE, J. Date:- 3rd April, 2008 P.C. : 1. Heard. 2. Mr. Usgaonkar, learned counsel for the Applicants prays for stay. Prima facie in view of Section 34 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, and the fact that the applicants have taken action under Section 13(2) of the said Act and further in view of Section 17 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, and the fact that the application filed by the applicants is pending in the D.R.T. in which the Respondent No.1 is a party, it would be appropriate to grant an interim stay. However, Mr. Manohar, learned counsel for the Respondent No.1 expresses the willingness of the Respondent No. 1 to deposit part of the amount claimed by the Applicants. 3. In the circumstances, upon the Respondent No.1 depositing a sum of Rs.25,00,00,000/- (Rupees Twenty Five Crores) in this court within a period of two weeks from today, there shall be no stay of the impugned order. However, if the Respondent No.1 fails to deposit the said amount within the aforesaid period, the injunction order in appeal shall stand stayed and the applicants shall be entitled to take such steps as may be available to them in law. Civil Application disposed of accordingly. S.A. BOBDE, J. skc