FARAD CONTINUATION SHEET IN THE HIGH COURT OF JUDICATURE OF BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD Office Notes, Office Memoranda of Coram, appearances, Court’s orders or directions and Registrar’s Orders. COURT’S OR JUDGE’S ORDERS CA/15055/2010 M/S ANIL V/S GMIDC 1. This is an application filed by applicant for withdrawal of the amount deposited by non- applicant in this Court. 2. Heard Shri Bajaj, learned Advocate for the applicant and Shri Thombre, learned Advocate for non- applicant. 3. The amount deposited is pursuant to the award passed by the Arbitrator. Proceedings under section 34 of the Arbitration and Conciliation Act, 1996, ("Act of 1996") filed by non-applicant, came to be dismissed by the learned Principal District Judge, Parbhani, against which, an Arbitration Appeal has been filed in this Court. 4. This Court has directed non-applicant to deposit the amount. Pursuant thereto, non-applicant has deposited Rs.3,76,87,753/- in this Court. Shri Bajaj, learned Advocate for applicant submits that the applicant is ready to furnish the bank guarantee of the said amount. Shri Thombre, learned Advocate for non- applicant opposes the application on the ground that non-applicant has got strong case on merits and has got every hope of success in the appeal. 5. The amount deposited by non-applicant would be lying idle in the Court. It would not be in the interest of anybody to keep the amount idle in the Court. Moreover, the award is in favour of applicant. So also, learned District Judge in a proceeding under Section 34 of Act of 1996 has confirmed the said award. FARAD CONTINUATION SHEET IN THE HIGH COURT OF JUDICATURE OF BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD Office Notes, Office Memoranda of Coram, appearances, Court’s orders or directions and Registrar’s Orders. COURT’S OR JUDGE’S ORDERS 2 As such, at this stage, prima facie, applicant is entitled for the said amount. At the same time, the amount to be allowed to be withdrawn by applicant, needs to be safeguarded. 6. In the result, application is allowed. The applicant is allowed to withdraw Rs.3,76,87,753/- deposited by non-applicant on furnishing the bank guarantee of any Nationalized or Scheduled Bank. No order as to costs. 7. Parties to act on an authenticated copy of this order. Dt.19.11.2010 (S.V.GANGAPURWALA, J.) akl