Heard learned Advocate Mr. Amar N.Bhatt for the Applicant and learned Advocate Ms. Lopa M.Bhatt for the Respondent / Original Claimant.
In view of the contentions raised with regard to the jurisdiction as well as the contention based with regard to the quality and the other clause of the agreement based on the evidence, the matter required detailed hearing for which the Appeal has already been admitted.
As the stay has been granted on the condition of depositing 50% of the decretal amount, the Civil Application deserves to be allowed and accordingly the present Civil Application stands allowed. The interim relief granted earlier regarding the stay of the execution and operation of the impugned judgment and decree is hereby confirmed till the final hearing of the First Appeal.
However, 50% of the amount of decretal amount, which has been deposited with the Trial Court, as per the order passed by this Court is directed to be invested in a fixed deposit with any Nationalized Bank in the name of the Registrar / COC of the Court at Valsad on usual terms for a period of 5 years and no amount is permitted to be withdrawn by the Respondent including even the interest.
Rule is made absolute. No order as to costs.
(Rajesh H. Shukla,J) Jayanti* Top