M/S.Gammon India Ltd., v. State Of Goa, Rep. By Executive Engineer, Works Division Ii (Roads North) Pwd Panaji.,

IN THE HIGH COURT OF BOMBAY AT GOA

MISC.CIVIL APPLICATION NO. 12 OF 2016 IN APPEAL UNDER ARBITRATION ACT NO. 3 OF 2010 M/S.GAMMON INDIA LTD., ... Applicant

Versus

STATE OF GOA, REP. BY EXECUTIVE ENGINEER, WORKS DIVISION II (ROADS NORTH) PWD PANAJI., ... Respondent Mr. Parag S Rao, Advocate for the applicant. Mr. M.Salkar, GA for the appellant-respondent. Coram:- F. M. REIS & K. L. WADANE, JJ.

Date:- 14th January, 2016 P.C.

Heard Mr. Parag Rao, learned counsel appearing for the applicant and Mr.

Salkar, learned GA for the respondent.

This is an application for withdrawal of the amount deposited in this Court by the appellant-respondent while obtaining stay of the impugned judgment and order passed by the Courts below. It is not disputed that earlier amount deposited in this Court by the appellant-respondent was permitted to be withdrawn by the applicant by furnishing bank guarantee of the Nationalised Bank. Shri Salkar, learned GA submits that withdrawal, if any, can be permitted only in case the amount is properly secured.

In such circumstances, the applicant is permitted to withdraw the

MCA/12/2016 amount of Rs. 1,78,81,633/- deposited by the appellant-respondent subject to furnishing bank guarantee of the Nationalised Bank to the satisfaction of the Registrar (Judicial) of this Court which shall be kept alive until the disposal of the above appeal. Application stands disposed of accordingly.

K. L. WADANE, J.

F. M. REIS, J.

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