20-IA5755-2026.DOC Santosh IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION INTERIM APPLICATION NO. 5755 OF 2026 IN COMM ARBITRATION PETITION NO. 826 OF 2026 N P Enterprises ...Applicant In the matter between General Manager, Western Railway ...Petitioner Versus N P Enterprises …Respondent Mr. Dhananjay Deshmukh, a/w Snehil Rai and Shivam Vyas, for the Applicant in IA/5755/2026. Mr. T. J. Pandian, a/w Gautam Modanwal Noorjahan Khan, Vaishali Barot and Aarti Gupta, for the Respondent. CORAM: N. J. JAMADAR, J. DATED: 14th OCTOBER, 2026 PC:- IA/5755/2026 1. Heard the learned Counsel for the applicant. 2. This is an application to allow the applicant to withdraw the amount deposited by the petitioner subject to the outcome of the Commercial Arbitration Petition No.826/2026, on the condition of creating a second charge on the residential house property of the applicant. 1/3 SANTOSH SUBHASH KULKARNI Digitally signed by SANTOSH SUBHASH KULKARNI Date: 2026.10.16 09:18:32 +0530 20-IA5755-2026.DOC 3. The petitioner has opposed the prayer for permitting the withdrawal of the amount subject to the condition of creating second charge on the residential house property of the applicant-respondent. 4. Having regard to the situation in life and the financial position of the applicant, as emerges from the averments in the application which indicate that the secured creator has initiated measures to enforce the security interest created in the residential premises which is sought to be offered by way of security, this Court is not inclined to allow the withdrawal of the amount deposited by the petitioner on the condition of creating a second charge on the said secured asset. In the given circumstances, the second charge, in effect, provides no security. 5. The application thus stands allowed subject to the applicant furnishing a bank guarantee of the amount equivalent to the amount which is deposited by the petitioner. 6. The applicant – respondent is permitted to withdraw the amount subject to furnishing a bank guarantee of a Nationalized Bank in the sum equivalent to the amount deposited by the petitioner and permitted to be withdrawn by this order. 2/3 20-IA5755-2026.DOC 7. The application stands disposed. [N. J. JAMADAR, J.] 3/3