M/S Agrawal And Hawale, Govt. Contractor, Through It S Partners Shridhar Shankar Hawale And Another v. The Executive Director, Godawari Marathwada Irrigation Dev. Corporation, A.Bad Thr Its Exe. Enginee

(1)

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

BENCH AT AURANGABAD CIVIL APPLICATION NO. 10211 OF 2017 IN ARBITRATION APPEAL NO.18 OF 2010 M/s Agrawal & Hawale, Govt Contractor Thr. its Partners ..APPLICANTS

VERSUS

The Executive Director, Godawari Marathwada Irrigation Development Corporation, Aurangabad ..RESPONDENT Mr R. R. Chandak, Advocate for applicants;

Mr B. R. Surwase, Advocate for respondent CORAM : NITIN W. SAMBRE, J.

DATE : 29th SEPTEMBER, 2017 ORAL ORDER :

Respective Counsel were heard for sometime. Of the amount deposited by the appellants, pursuant to the arbitration award, in my opinion, case for withdrawal of amount to the extent of 50%, viz. Rs.20,00,000/- (Twenty Lakhs only) is made out. However, the said withdrawal in

(2) favour of claimants-respondents will be subject to following conditions:- (a) They shall execute an undertaking before this Court to keep the appellants indemnified, in case any third party claim is made against the appellant.

(b) If required, they shall file fresh indemnity bond within a period of two weeks from today.

(c) They shall furnish before learned Registrar (Judl.) the solvent surety for the amount 1.5 times, that of the amount to be permitted to be withdrawn. Such solvency be furnished from four weeks from today. It is only upon the satisfaction of the Registrar (Judl.), the applicants are permitted to withdraw the amount as ordered.

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Civil Application stands disposed of in above terms.

( NITIN W. SAMBRE, J.) Tupe