1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPLICATION NO.2775 OF 2009 IN FIRST APPEAL NO. 2777 OF 2007 Office Notes, Office Memoranda of Coram, appearances, Court's orders or directions and Registrar's orders Court's or Judge's orders. Mr.Amit B.Borkar, for the applicants/original respondents in FA. Mr A.M.Savagave i/b Mr S.S.Patwardhan, for respondents/original appellant in FA. CORAM: D.B.BHOSALE AND R.Y.GANOO, JJ. DATE : 08/03/2010 PC: Heard learned counsel for the parties. By this civil application, the applicants/original respondents have prayed for allowing them to withdraw the entire decreetal amount deposited by the respondents/original appellants as per the impugned judgment dated 12.7.2007. The respondents have filed reply affidavit dated 6.3.2010, opposing the prayer made in the civil application. We T 2 have perused the reply and the annexures and it appears that admittedly, as of today, Rs.5.37 lacs are lying with the respondents-Bank after deducting the amounts paid by them to the claimants of the dividend warrants. In view thereof, Mr Patwardhan, learned counsel for the respondents, submits that the respondents-Bank has no objection for allowing the applicants to withdraw the amount of Rs.5.37 lacs, provided they indemnify the respondents-Bank against third party claims and furnish undertaking to this court that if the appeal is allowed, the applicants shall pay the entire amount with interest at the rate of 8% per annum within a period of three months from the date of decision. Mr Borkar,learned counsel for the applicants, submits that the applicants are prepared to execute indemnity bond and shall also furnish undertaking stating that if ultimately the appeal is allowed 3 they shall deposit the entire amount with interest at the rate of 8% per annum within a period of three months with the respondents-Bank. Insofar as the remaining amount is concerned, Mr Borkar, learned counsel, submits that they may be permitted to withdraw the same on their furnishing the Bank Guarantee of a nationalised Bank. Mr Patwardhan, learned counsel, has no objection for allowing this prayer. Hence, we pass the following order. The applicants are allowed to withdraw the amount of Rs.5.37 lacs with accrued interest, if any, on their furnishing indemnity bond within a period of four weeks from today. Insofar as the remaining amount is concerned, the applicants are allowed to withdraw the same on their furnishing the Bank Guarantee of a nationalised Bank within a period of four weeks from today, with an advance copy thereof to the advocate for the respondents-Bank. It 4 is needless to state that the applicants shall keep the Bank Guarantee alive till disposal of this appeal. The applicants to file undertaking that they shall repay the entire amount to the respondents-Bank, if their First Appeal is allowed with interest at the rate of 8% per annum from the date of withdrawal of the amount till the date of deposit. Undertaking to be furnished within a period of four weeks from today with an advance copy thereof to the advocate for the respondents. Unless the undertaking is furnished, the applicants are not allowed to withdraw the amount in pursuance of this order. Undertaking, if furnished, is accepted. The civil application is disposed of. (R.Y.GANOO, J.) (D.B.BHOSALE, J.) 5