N.Vadivel v. The Management Of India Cements Ltd

W.A.No.1963 of 2022 & THE HON'BLE CHIEF JUSTICE and P.D.AUDIKESAVALU, J.

(Order of the Court was made by the Hon'ble Chief Justice) This is an application seeking withdrawal of the amount of Rs.38,29,158/- deposited by the first respondent Management before the Court.

2. Learned counsel for the first respondent submits that in fact the applicants 1, 6, 9 and 10 have received the amount deposited by the Management and the remaining applicants can also receive the said amount, which the Management is ready to pay.

3. Learned counsel for the applicants submits that at least Rs.1.00 lakh each may be allowed to be withdrawn by the applicants from the amount deposited by the Management.

4. Today, the entire amount in fixed deposit would be in nobody's interest. We may permit part amount to be withdrawn. At the same time, amount is required to be secured in the interest of the first respondent Management. Accordingly, we permit each of the 11 applicants to withdraw Rs.1.00 lakh (Rupees one lakh only) on furnishing solvent security of the like amount and the remaining amount be kept in fixed deposit.

5. The application stands disposed of.

(S.V.G., CJ.) (P.D.A.,J.) 07.07.2023 kpl

THE HON'BLE CHIEF JUSTICE and P.D.AUDIKESAVALU, J.

(kpl) 07.07.2023