Case Note & Summary
The case involved an appeal against an interim order passed by the High Court of Judicature at Bombay, Nagpur Bench, allowing the respondents to withdraw a substantial amount of Rs. 5 crore under certain conditions. The appellants, Vijayadevi Navalikishore Bhartia and another, contested this order, seeking to ensure that their rights were protected during the ongoing appeal process. The High Court had stipulated that the respondents could withdraw the funds only after providing a bank guarantee for 50% of the amount and security for the remaining balance. Additionally, the court mandated that the respondents maintain the bank guarantee throughout the appeal's pendency and for three months thereafter. The Supreme Court, upon hearing the parties, noted the appellants' willingness to furnish the necessary bank guarantee and directed that they could withdraw the remaining amount if they complied with the High Court's requirements. The appeals were thus disposed of with this directive, ensuring that the appellants' interests were safeguarded while allowing the respondents to access the funds under specified conditions.
Headnote
A) Civil Procedure - Interim Relief - Withdrawal of Amount - Code of Civil Procedure, 1908 - Court permitted withdrawal of funds upon furnishing bank guarantee to ensure security during appeal process. The court directed that the appellants may withdraw the amount if they provide a bank guarantee to the satisfaction of the High Court, ensuring compliance with the interim order issued previously (Paras Not mentioned).
Issue of Consideration
Whether the appellants can withdraw the amount deposited by the State with conditions.
Final Decision
The Supreme Court directed that the appellants may withdraw the balance amount upon furnishing a bank guarantee to the satisfaction of the High Court, thereby disposing of the appeals.
Law Points
- Interim relief
- bank guarantee
- appeal process
- security for amount
- investment of funds
