Nma/331/2009 Of Sahney Kirkwood Pvt. Ltd v. Addl.commissioner Of Income Tax Range

Murlidhar and Mr. Rajesh Shah i/by Rajesh Shah &Co. for the Appellants. Mr. J.S. Saluja with Mr. P.S.Sahadevan for the Respondent. CORAM : F.I. REBELLO &R.S. MOHITE, JJ.DATE : 17TH MARCH, 2009 Civil Procedure. Order 41 Rule 5(1) reads as under. "An appeal shall not operate as a stay ofproceeding under a decree or orderappealed from except so far as theAppellate Court may order, nor shallexecution of a decree be stayed by reasononly of an appeal having been preferredfrom the decree; but the Appellate Courtmay for sufficient cause order stay ofexecution of such decree". under. Order 41 Rule 5(3) thereafter reads as (c) that security has been given by the applicant for the due performance of suchdecree or order as may ultimately bebinding upon him". rectification application be heard and also observed as under. moved the present motions on 5.9.2008. 6.At the hearing of the motions on behalf resolution of the Board of Directors to that effect has also been annexed. It is pointed out on behalf of the deposited within two months from today and thebank guarantee to be furnished within one monthfrom today. On such deposit/furnishing bankguarantee there will be an interim relief interms of prayer clause (a). In the mean time,the respondent is directed not to take coercivesteps to recover the amount. Liberty to therespondent to apply for withdrawal of the amount.If no application for withdrawal is made withintwo months from deposit then amount to beinitially invested for a period of two years and for equal periods thereafter till hearing and final disposal of the appeal. 12. The aforesaid motions are accordingly,disposed off. (R.S. MOHITE, J.) (F.I.REBELLO, J.)