Municipal Corporation Of Greater Mumbai v. Walter Bau Ag (Il)

Before : Shri A. M. Chandekar Prothonotary & Senior Master Date : 23rd February, 2018 FOR DIRECTION (C. S. DEPARTMENT) :

COMAP/27/2018 ARBP/433/2014 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Mr. Kevic Setalvad, Sr. Counsel a/w. Mr.

Yashodeep Deshmukh and R. Y. Sirsikar, Advocate for Appellants.

Mr. Hursh Meghani a/w. Javed Gaya and Vidya Chaudhari I/b. Chambers of Javed Gaya, Advocate for Respondents.

P.C. :

In the instant matter, Appellant - M.C.G.M has deposited amount of Rs. 35,61,81,190/- in Commercial Execution Application No. 35/2017 and Commercial Appeal (L) No. 92/2017 in Arbitration Petition No. 433/2014. As per direction, matter was kept on board along with three lines Praecipe dated 25.01.2018, in which the Respondents have claimed withdrawal of deposited amount.

Heard Ld. Counsels for both the parties.

Both the parties read and relied on paragraph Nos. 38 to 42 of the Judgment dated 22.12.2017 passed by the Hon'ble Division Bench. According to the Respondents, they are entitled to withdraw deposited amount. Whereas, as per the Ld. Counsel for the Appellants, they have challenged Judgment of the Hon'ble Division Bench before the Hon'ble Apex Court and in view of the observation of the Hon'ble Division Bench in paragraph no. 41, the Respondents are not entitled to receive amount.

2 Before : Shri A. M. Chandekar Prothonotary & Senior Master Date : 23rd February, 2018 contd...

COMAP/27/2018 ARBP/433/2014 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) I heard both the parties at length. I find that there is no direction to this office from the Hon'ble Division Bench to release amount in favour the Respondents. As per direction of this office, amount is already deposited and invested in Nationalized Bank for 30 days on 14.02.2018. Hence, Praecipe submitted by the Respondents for withdrawal of deposited of amount is disposed of.

Office is directed to renew the investment till further directions.

Office to take follow up action.

Date : 23.02.2018 Prothonotary & Senior Master