ca5230.11 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY BENCH AT AURANGABAD CIVIL APPLICATION NO.5230 OF 2011 IN FIRST APPEAL NO.448 OF 2010 1) Vithal s/o Baburao Giram, R/o-Navjeevan Shikshak Colony, Behind S.T. Bus Stand Road, Beed, Dist- Beed, 2) Prakash s/o Baburao Giram, R/o-Giram Galli, Beed, Dist-Beed, 3) Vishwas s/o Baburao Giram, R/o-Beed, Dist-Beed. ...APPLICANTS. VERSUS 1) The State of Maharashtra, Through the Collector, Beed, 2) The Executive Engineer, Telephone, Latur Division, Latur. ...RESPONDENTS. ... Shri.D.R. Jaybhar Advocate for Applicants. Shri.S.K. Kadam, A.G.P. for Respondent No.1. Shri. Alok Sharma, Assistant Solicitor General for Respondent No.2 - Appellant. ... ca5230.11 2 CORAM: NARESH H. PATIL AND T.V. NALAWADE, JJ. DATE : 11TH NOVEMBER, 2011. PER COURT : 1. Heard learned counsel for the parties. 2. Shri. Sharma, learned counsel for Respondent No.2 - original appellant, submits that Section 4 Notification was issued on 4th November, 1993. The Special Land Acquisition Officer granted compensation at the rate of Rs.3950/- per R whereas the Reference Court granted compensation at the rate of Rs.17,760/-. Shri. Sharma, learned counsel submits that from the sale instance dated 5th September, 1998, it could be noticed that in the year 1998 the said property was sold at the rate of Rs.14/- per sq. ft. Learned counsel further submits that an amount of Rs.76,86,986/- (Rupees Seventy Six Lakh Eighty Six Thousand Nine Hundred Eighty Six only) has been deposited with the Registry of this Court, consequent to the ca5230.11 3 order passed by this Court on 26th October, 2010. 3. Shri. Jaybhar, learned counsel for Applicants - claimants submits that subject land is situated in the city limits of Beed and has commercial potentiality. The subject land is adjoining to the District Court building of Beed. 4. Considering the material placed before us and the submissions advanced, we pass following order: A) The Applicants- claimants are entitled to withdraw 50% of the amount deposited by the Appellant with the Registry of this Court, on furnishing solvent surety, to the satisfaction of the Registrar (Judicial) of this Court. ca5230.11 4 B) The Registry is directed to invest rest of the amount in a fixed deposit scheme, in State Bank of Hyderabad, High Court Branch, Aurangabad, initially for a period of three years, with a renewal clause. C) The Civil Application is disposed of. [T.V. NALAWADE,J.] [NARESH H. PATIL,J.] asb/NOV11