M/S.Bbcl Shrishti Homes Llp v. D.K.Bhagavathi Nath

B.PUGALENDHI, J.

AND V. LAKSHMINARAYANAN, J.

( Order of this Court is delivered by V. LAKSHMINARAYANAN, J.) This petition has been filed to modify the order passed by this Court dated 05.05.2023 in CRP No.1603 of 2023 and CMP No.10475 of 2023.

2. As per the order dated 05.05.2023, this Court has directed the petitioner to deposit 25% of the compensation amount, within a period of three weeks.

3. The learned counsel for the petitioner submitted that, instead of depositing the amount, the petitioner may be permitted to furnish Bank Guarantee to the tune of Rs.10,61,581/-, which is 25% of the compensation amount, as directed by this Court. The idea is to secure the amount, in the event of petitioner fails in the proceedings before this Court.

4. We are satisfied with the reasons stated in the affidavit and hence inclined to allow the petition.

5. Accordingly, the order passed by this Court in CRP No.1603 of 2023 and CMP No.10475 of 2023 dated 05.05.2023 is modified to the effect that the petitioner is directed to furnish Bank Guarantee to the tune of Rs.10,61,581/- (Rupees ten lakhs sixty one thousand five hundred and eighty one only), within three working days i.e. on or before 30.05.2023. The petitioner shall keep the bank guarantee alive throughout the period of pendency of CRP No.1603 of 2023.

6. With the above direction, this petition is allowed. (B.P., J.) (V.L.N.,J.) 25.05.2023 mst

B.PUGALENDHI, J.

AND V. LAKSHMINARAYANAN, J.

25.05.2023