1 caf1771.10 ast IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.1771 OF 2010 IN FIRST APPEAL NO. 689 OF 2010 Konkan Railway Corporation Ltd. ....Applicant. Vs. Shri Sunil M. Mayekar & Ors. ....Respondents Smt. Kiran Bhagalia i/b. Krishna Kelkar for applicant. Mr. Rakesh Bhatkar for Respondent No.1. Smt. G.P.Mulekar, AGP for Respondent No.2. CORAM:- A.M.KHANWILKAR AND A.A.SAYED, JJ DATED:- JULY 14, 2010 P.C. 1. This application is for stay of the Judgment and Decree passed by the Reference Court during the pendency of the appeal. The appeal has already been admitted vide our order dated 13th July, 2010. The appellant/applicant is willing to deposit 50% of the decreetal amount after giving adjustment to the amount already deposited on the earlier occasion in terms of the order dated 30th November, 2004. 2 caf1771.10 2. According to the learned Counsel for the Appellant, even if the Respondents are allowed to withdraw the said amount, that should be on the basis of furnishing security for the commensurate amount as the respondents have already withdrawn the amount deposited in terms of the order dated 30th November, 2004. This submission does not commend to us for the simple reason that in companion matters this Court has permitted the claimants to withdraw the entire 50% of the decreetal amount to be deposited by the Appellant without furnishing security. Counsel for the Appellant however, submits that the said arrangement was on the basis of the statement made on behalf of the Appellant in those proceedings. We see no reason why the Appellant cannot take the same position. Considering the fact that the Reference Court has given enhancement of only around Rs.1000/- by determining the market price at the rate of Rs.3,500/- per Are instead of Rs.2500/- per Are as determined by the SLAO, interest of justice would be met, if the claimants are permitted to withdraw the entire 50% amount without furnishing any security. Inasmuch as, the claimants in any case are entitled to withdraw the amount to the extent of market price determined by the SLAO at Rs.2,500/- per Are and statutory benefits thereon. 3 caf1771.10 3. Accordingly, we direct the Appellant to deposit 50% of the decreetal amount in the trial Court within four weeks from today, failing which interim protection granted by this Court in terms of the order dated 30/11/2004 shall stand vacated forthwith without further reference to the Court and this application will be treated as dismissed for non-prosecution. 4. In the event, the Appellants/Applicants were to deposit 50% of the decreetal amount within the specified time, the impugned Judgment and Decree shall remain in abeyance during the pendency of the appeal. 5. It will be open to the Respondents to withdraw the amount so deposited by the Appellant without any security within four weeks from the date of deposit, but on submitting undertaking before this Court to the effect that in the event, the Court were to so direct them and the persons claiming through them, would bring back the amount withdrawn or any portion thereof alongwith interest thereon from the date of withdrawal till the date of redeposit, subject to such orders to be passed by the Court at the appropriate stage. 6. In the event, the claimants fail to withdraw the amount within four weeks, 4 caf1771.10 it will be open to the trial Court to invest the said amount in appropriate fixed deposit scheme of Nationalised Bank forthwith. 7. Application disposed of accordingly. (A.A.SAYED, J) (A.M.KHANWILKAR, J)