Bombay High CourtNMCD/120/2017disposed off

National Insurance Co. Ltd v. M/S Maa Ashish Textile Industries Pvt Ltd

2017-09-14Hon'Ble Shri Justice M.S. Sanklecha2 pages

Before : Shri A. M. Chandekar Prothonotary & Senior Master Date : 04th December, 2017 FOR DIRECTION :

NMCD/120/2017 CARBP/153/2017 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Ms. Ruchika Dave I/b. Asim Vidyarathi, Advocate for Applicants/Original Petitioners.

Ms. Shilpa Upadhyay I/b. India law, Advocate for Respondents.

P.C. :

Pursuant to Order dated 14.09.2017 passed by the Hon'ble Court, the Applicant would be entitled to a stay of the enforcement of the impugned award on a deposit of the amount of Rs. 3 crores with the Prothonotary and Senior Master of this Court. The Respondent would be entitled to withdraw the amount of Rs. 3 crores on furnishing a bank guarantee of the Nationalised Bank to the Prothonotary and Senior Master for the amount of Rs. 3 crores and keep the same alive till the disposal of this Petition. So also, as per aforesaid Order of the Hon'ble Court, the Respondents are directed to furnish bank Guarantee within four weeks of being intimated of the deposit of Rs. 3 crores by the Applicant.

The Registry informs that the Applicants deposited amount of Rs. 3 crores on 16.11.2017.

Accordingly, today Advocate for Respondents submits draft of Bank Guarantee of I.D.B.I Bank, Ville Parle (West) branch in the prescribed format approved by the High Court and a copy of same is served upon Advocate for Applicants.

2 Before : Shri A. M. Chandekar Prothonotary & Senior Master Date : 04th December, 2017 contd...

NMCD/120/2017 CARBP/153/2017 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) In view thereof, by consent, aforesaid draft of Bank Guarantee of I.D.B.I, Ville Parle (West) branch is approved as per corrections made therein, if any.

Respondents are directed to engross the aforesaid Bank Guarantee as per Order dated 14.09.2017 of the Hon'ble Court's Order.

Mr. Shinde, Master (Admn.) is directed to verify the engrossed Bank Guarantee as per corrections made therein. After engrossment of the Bank Guarantee, Respondents to furnish copy of engrossed Bank Guarantee to the other side and same to be kept in safe custody by the Registry.

Date : 04.12.2017 Prothonotary & Senior Master