1 FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD CIVIL APPLICATION NO.13429 OF 2011 IN ARBITRATION APPEAL NO.14 OF 2011. Office Notes, Office Memoranda of Coram, appearances, Court's orders or directions and Registrar's orders. Court's or Judge's orders Mr.J.N.Singh, advocate for the applicant. Mr.B.R.Survase, advocate for the Respondent. CORAM : S.V.GANGAPURWALA,J. Date : 16.11.2011. PER COURT : 1. Heard. 2. This is an application for withdrawal of the amount deposited by the non-applicant, pursuant to the orders passed by this Court. The award has been passed in favour of the present applicant and application U/s 34 of the Arbitration and Conciliation Act, also came to be rejected. Against that the present non-applicant has filed appeal. This Court while granting stay to the impugned award had directed the present non-applicants to deposit 50% of the amount under the award. 3. Heard Mr.J.N.Singh, learned counsel for the applicant and Mr.B.R.Survase, learned counsel for the non-applicants. 2 4. Mr.Survase, learned counsel for the non-applicant submits that the non-applicant has got a strong case on merits and the applicant may not be allowed to withdraw the amount. 5. It would be in nobody's interest to keep the amount idle in the Court. At the same time, the interest of the non-applicant is also to be protected. Mr.J.N.Singh, learned counsel requests for withdrawal of the amount on undertaking. 6. In light of the above, I pass the following order : (i) The applicant is allowed to withdraw 50% of the amount deposited on furnishing a Bank guarantee of the like amount and remaining 50% of the amount on furnishing a solvent security of the like amount. (ii) The Civil Application is disposed of. (S.V.GANGAPURWALA,J.) Dt.16.11.2011. asp/office/Ca13429.11 3