Mangalam Cement Limited vs M/S Vaibhav Corporation
2022 Latest Caselaw 6664 Raj/2

       HIGH COURT OF JUDICATURE FOR RAJASTHAN
                   BENCH AT JAIPUR

          D.B. Civil Misc. Stay Application No.1300/2021
                                       in
               D.B. Civil First Appeal No. 290/2021

Mangalam Cement Limited & Ors.
                                                                  ----Appellants
                                   Versus
M/s Vaibhav Corporation & Anr.
                                                                ----Respondents

For Appellant(s) : Mr. J.P. Goyal, Sr. Adv.assisted by Ms. Jyoti Swami and Mr. Kshitij Mittal, Adv.

For Respondent(s) : Mr. Prakhul Khurana, Adv.

Mr. Samay Maheshwari, Adv.

Mr. Rajat Sharma, Adv.

HON'BLE MR. JUSTICE PRAKASH GUPTA HON'BLE MR. JUSTICE PANKAJ BHANDARI

Order

14/10/2022

Heard learned counsel for the parties on the stay

application.

Having regard to the submissions made by learned

counsel for the parties as also to the facts and circumstances of

the case, operation/execution of the impugned judgment and

decree dated 09.04.2021 passed by the Commercial Court

concerned is stayed on the condition that the appellants deposit

the entire decretal amount within one month from today with the

concerned Commercial court. On such deposit being made, the

respondents shall be at liberty to withdraw 50% of the said

amount on their furnishing an undertaking on oath to the effect

that if the appellants ultimately succeed in the appeal, the said

(2 of 2) [Stay No.1300/2021 in CFA No.290/2021]

amount shall be refunded by them to the appellants with interest

@ 9% per annum from the date of withdrawal till refund.

Remaining 50% amount be deposited in FDR of any Nationalized

Bank initially for a period of one year, which shall be renewed from

time to time

The stay application stands disposed of.

(PANKAJ BHANDARI),J (PRAKASH GUPTA),J

CHANDAN/MR/6

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