(Per : HONOURABLE MR.JUSTICE AKIL KURESHI) Appeal is ADMITTED.
(AKIL KURESHI, J.) (C.L.
SONI, J.) ORAL ORDER IN CIVIL APPLICATION No. 2950 of 2012 RULE.
Mr. Dipesh Shah, learned Advocate, waives notice of rule for opponent No.1, Mr. K.K. Aggarwal-opponent No.2 appears in person and Mr. Pathak, learned Advocate waives notice of rule on behalf of opponent No.3.
This application shall be HEARD with First Appeal No. 534 of 2012.
(AKIL KURESHI, J.) (C.L.
SONI, J.) ORAL ORDER IN CIVIL APPLICATION No. 1822 of 2012 By way of this application, the applicant seeks stay of execution proceedings, pending appeal.
To ascertain the dues of the Judgment Creditor, we had requested the applicant as well as the Judgment Creditor to submit their respective calculations and such calculations are taken on record.
The applicant contends that as of now the due amount along with interest would come to Rs.2,50,800/-, whereas the decree holder assesses this figure to Rs.4,39,290/-. However, in the calculation made by the decree holder, we notice that he has calculated a sum of Rs.48,800/- towards costs of execution proceedings, a sum of Rs.75,000/- towards compensatory costs and another sum of Rs.60,000/- towards compensatory costs for causing undue delay and harassment to him. Out of the aforesaid three figures, second and third items have not been provided in any order. It may, however, be true that the executing Court has recorded that the costs of execution proceedings shall be payable.
Considering the facts and circumstances of the case, this application is ALLOWED. We grant STAY against the execution of the decree, on condition that the applicant deposits a sum of Rs.3,00,000/- before the trial Court, latest by 30th March, 2012. Upon such deposit being made, same shall be invested in any nationalized bank, initially, for a period of one year and the same shall be renewed from time to time, till the first appeal is disposed of by this Court.
First appeal to come up for hearing on 7TH MAY, 2012. In the meantime, office is directed to call for R&P from the concerned Court. This application stands DISPOSED OF, accordingly.
(AKIL KURESHI, J.) (C.L.
SONI, J.) Umesh/ Top