... 1 ... IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL CIVIL CIVIL APPELLATE JURISDICTION APPELLATE JURISDICTION APPELLATE JURISDICTION CIVIL CIVIL CIVIL APPLICATION NO.6122 OF 2005 APPLICATION NO.6122 OF 2005 APPLICATION NO.6122 OF 2005 IN FIRST FIRST FIRST APPEAL NO.2507 OF 2005 APPEAL NO.2507 OF 2005 APPEAL NO.2507 OF 2005 Konkan Railway Corporation Ltd. ...Applicant Vs. Shri Raja Dharma Powar & Ors. ...Respondents Ms Kiran Bhagalia i/by Ms. Lalita Punchakshari for the Applicant. Mr K.K. Tated, A.G.P. for the State. CORAM CORAM CORAM : A. S. OKA, J. : A. S. OKA, J. : A. S. OKA, J. DATE DATE DATE : MARCH 09, 2006. : MARCH 09, 2006. : MARCH 09, 2006. P.C.: P.C.: P.C.: 1. Rule. Heard Advocate appearing for the Applicant. The learned Advocate appearing for the Applicant/ Appellant submitted that as the Application for reference under Section 18 of the Land Acquisition Act, 1894 was barred by limitation, the Applicant is entitled to unconditional stay without deposit of the amount payable under the impugned Award. 2. By the impugned Judgment and Award the, claim for enhancement made by the original claimant has been allowed. The Land Acquisition Officer awarded compensation at the rate of Rs.668/- per Are for Varkas land. The said rate has been enhanced by the Reference Court to Rs.4,000/- per Are. The Applicant has been directed to pay solatium at the rate of 30 per cent under section 23(2) of the Land Acquisition Act, 1894. The Applicant has been also directed to ... 2 ... pay interest at the rate of 12 per cent on the market value as required by section 23(1)(A) of the said Act of 1894. The notification under Section 4 has been issued on 16th May, 1997. Award under Section 11 was made on 31st August, 1998. The claimants received notice under section 12(2) on 19th January, 1999. The reference Court has also awarded interest under section 28 of the said Act of 1894 at the rate of 9 per cent per annum and at the rate of 15 per cent per annum. Thus, on the total compensation amount, the Applicant/Appellant will have to pay interest at the rate of 15 per cent per annum from the date on which period of one year elapsed from the date of taking over possession of the land. 3. In the event the Applicant/Appellant fails in Appeal, the Applicant which is public sector undertaking will have to pay interest at the rate of 15 per cent per annum atleast from the year 2000 on the entire compensation amount. Looking to the present pendency of the First Appeals in this Court there is no likelihood of this Appeal being heard finally in near future. At present Appeals of the year 1988 under Land Acquisition Act are pending in this Court. Considering the fact that filing of the Appeals has considerably increased thereafter, this Appeal may not be heard for a long time. It is ... 3 ... pertinent to note that even on Government Securities the highest rate of interest is 8 per cent per annum and only by way of exception, senior citizens are paid interest at the rate of 9 per cent per annum. In my view, it will be in the interest of the Applicant that the entire amount is deposited by the Applicant/Appellant. So that interest at the rate of 15 per cent per annum stops running. If the Appellant fails in Appeal and if unconditional stay without ordering deposit is granted, the Appellant will have to pay interest at the rate of 15 per cent per annum till the date of decision of Appeal. This will cause huge loss to the public exchequer. Hence, prayer for unconditional stay is rejected. 4. Considering the fact that prima facie there appears to be some substance in the submission made as regards limitation, the claimant will not entitled to withdraw the amount. 5. Hence, there will be ad-interim relief in terms of prayer clause (a) subject to Applicant/Appellant depositing the entire amount payable under the impugned Judgment and Award with the Reference Court within period of twelve weeks from today. ... 4 ... 6. As and when the amount is deposited with the Reference Court, the Applicant will give intimation of the deposit to the Respondents. The Reference Court will invest the amount, if deposited, in any nationalised bank in fixed deposit initially for a period of one year subject to further order which may be passed in this Application. 7. If the amount is not deposited within the stipulated period, ad-interim stay granted will stand vacated automatically without reference to the Court. JUDGE JUDGE JUDGE