UNION OF INDIA Vs. M/S HAKIM CHAND

JUDGEMENT

(1.) This appeal was disposed of by the order of this Court dated 13th January, 2009. An application being CM No.1313/2009 has been moved by the respondent for release of the surety bond and the bank guarantee which has already been allowed. Directions are however required with respect to the release of the amount of Rs. 30 lacs which has been deposited in this Court. The effect of the judgment of this Court dated 13th January, 2009 is that out of the total awarded amount of Rs. 42,96,225/-, the Claim No.2 of Rs. 18,72,738/- has been dis-allowed and which amount has therefore to be reduced from the total awarded amount of Rs. 42,96,225/-. Interest is payable thereafter on the net amount being a sum of Rs. 24,23,847/- at the rate of 12% per annum with. effect from 4th June, 1996 to 4th April, 2003, the date on which the amount of Rs. 30 lacs was deposited in this Court. The amount due to the respondent as on the date of deposit in this Court would be over Rs. 44 lacs as interest upto. 4th April, 2003 comes to Rs. 19,87,258.70. The entitlement of the respondent on 4th April, 2003 being more than the amount of Rs. 30 lacs deposited in this Court, therefore, the respondent is entitled to withdraw the entire amount of Rs. 30 lacs from this Court. The respondent will be free to recover the balance decretal amount as per law.

(2.) With these observations, CM No.1313/2009 is disposed of and also the issue of directions with regard to the amount of Rs. 30 lacs deposited in this Court. Disposed of.