Rajeshri Realtors vs Sweet Angel Home Builders And 5 Ors
2021 Latest Caselaw 11254 Bom

                                 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                       ORDINARY ORIGINAL CIVIL JURISDICTION


                                     INTERIM APPLICATION (L) NO.2809 OF 2021
                                                        IN
                                       EXECUTION APPLICATION NO.56 OF 2021


                 M/s. Rajeshri Realtors                        .. Applicant/Judgment Creditor
                                 Vs.
                 M/s. Sweet Angel Home Builders & Ors.         .. Judgment Debtors/
                                                                   Org.Respondents



                 Mr. Vishal Thaker for the applicant.

                 Mr. Nigel Quraishy i/b. Dushyant Krishnan for respondents.


                                                         CORAM : A. K. MENON, J.

DATED : 18TH AUGUST, 2021.

P.C. :

1. This is an application seeks leave to withdraw 50% of amount

deposited in this court pursuant to an order dated 19 th January,

2021 passed Interim Application (L) no.220 of 2021 in Writ

Petition no.1308 of 2019. That order clarifies that the applicant

is at liberty to recover the balance decretal amount. As a result,

the applicant moved this court to seek a direction against the

Digitally respondent to pay over a sum of Rs.3,44,62,008/- lying with the signed by SANDHYA SANDHYA BHAGU BHAGU WADHWA WADHWA Date:

2021.08.20 17:32:40 +0530

9.ial-2809-21.doc wadhwa credit of the respondent which was lying deposited with the

Prothonotary and Senior Master not to disburse the aforesaid

amount to the respondent. The total amount lying with the

Prothonotary was Rs.6,89,24,016/- had not been invested. As a

result, the respondents share of 50% set out above was directed to

be invested in any nationalized bank for the term of one year

subject to further renewals. It was clarified that the applicant was

not prevented from receiving his 50% share but the petitioners

were granted liberty to challenge the compensation amount vide

paragraph 4(iii) of the order dated 19th January, 2021.

2. Today Mr. Thaker states that the applicant's share has since been

withdrawn, by this application, he seeks leave to withdraw other

half of the amount which today lies invested. The reason that Mr.

Thaker has canvassed before me is a fact that the applicant is in

urgent need of funds. The admitted position is that a challenge to

the Award has been admitted on 22 nd July, 2019 and it awaits

disposal.

3. The application today for withdrawal will have to be therefore

considered in that light. In the event, the petitioner therein

succeed this amount of Rs.3,44,62,008/- may have to be brought

9.ial-2809-21.doc wadhwa back and to this effect, it would be necessary to secure the interest

of the respondents.

4. During the course of arguments, I have therefore called upon Mr.

Thaker to take instructions from the applicants as to whether

applicants are ready to give bank guarantee to the Prothonotary

and Senior Master in the usual form. Mr. Thaker fairly states that

his clients are not in a position to secure the amounts proposed to

be now withdrawn. In these circumstances, I am afraid it is not

possible to accede the request of the applicant seeking to

withdrawal of the amount.

5. In view of the above, I pass the following order;

(i) Application is dismissed.

(ii) No orders as to costs.

(A. K. MENON, J.)

9.ial-2809-21.doc wadhwa