(Per : HONOURABLE MR.JUSTICE JAYANT PATEL) The present applications are for interim injunction pending the First Appeal against the judgment and award passed by the Reference Court which is impugned in the First Appeal. This Court on 19.06.2012 had passed the following order -
"Rule returnable on 17.07.2012. By ad interim order, there shall be stay against the execution and implementation of the award on the condition that the applicant deposits the entire awarded amount together with the interest and costs with the Reference Court before the returnable date."
Mr. Valmik Vyas for Mr.Mehta states that as per the his instructions, the amount must have been deposited but if not deposited shall be deposited within a period of two weeks from today.
Under the circumstances, the ad interim relief granted earlier is confirmed with the further direction that if the amount is not deposited shall be deposited within a period of two weeks from today.
We have heard Mr.Vyas for Mr. Mehta for the applicant and Mr. Jayesh Patel for Mr. A.J.Patel for the respondents-original claimants on the aspect of withdrawal.
Considering the facts and circumstances, out of the amount which may be deposited, the original claimants shall be permitted to withdraw 50% of the amount and the remaining 50% of the amount shall be invested by the Reference Court in the Fixed Deposit Receipt with the nationalised bank initially for a period of 3 years in the cumulative scheme and such investment shall be continued from time to time until the appeals are finally disposed of. The original FDR shall be retained by the Nazir department of the Reference Court.
Applications are allowed to the aforesaid extent. Rule made absolute accordingly.
(JAYANT PATEL, J.) (C.L.
SONI, J.) *bjoy Top