Order
1. Leave granted.
2. The learned counsel for the respondent is present on caveat and with the consent of the learned counsel for the parties, the matter is heard and disposed of finally in terms of the following order:
There is a decree for payment of mesne profits based on an inquiry held under Order 20 Rule 12 CPC in favour of the respondent (landlord) against the appellant (tenant). The decretal amount is Rs 40,47,999. As against the said decree directing payment of mesne profits, an appeal has been filed before the District Court which is yet to be heard on merits. As against the order passed on application for stay, the matter has come up before the High Court. Before the High Court, the appellant offered to furnish bank guarantee in an amount of Rs 25,00,000 (Rupees twenty-five lakhs) as a condition for stay of recovery under the decree. The High Court has accepted the offer of the appellant but at the same time directed security other than bank guarantee to be furnished for the balance amount also. The appellant has sought for review of the order of the High Court wherein the High Court has not allowed any interim relief to the appellant. Feeling aggrieved, the appellant has filed these appeals by special leave.
3. The learned counsel for the respondent has taken a very reasonable stand submitting that the appellant may furnish the bank guarantee, as offered by it, and the figure of balance amount may be reduced by an amount of Rs 4,18,000 which has already been paid and for such balance amount the appellant Company may furnish the personal bond of any of the Directors. In view of that statement, it is directed that the execution of decree passed by the trial court shall remain stayed during the hearing of the appeal subject to the appellant furnishing a bank guarantee in an amount of Rs 25,00,000 and a personal bond by any of the Directors of the Company in an amount of Rs 11,30,000 (Rupees eleven lakhs and thirty thousand only) within a period of four weeks from today. This shall be without prejudice to rights of either party.
4. The review petition before the High Court is rendered infructuous and the same be treated as disposed of.
5. The appeals stand disposed of in the above terms.
6. No order as to the costs.
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