Harsha Devani, J.

1. Rule. Mr. Nisarg Desai, learned advocate for Nanavati Associates, learned advocates for the respondent, waives service of notice of rule on behalf of the respondent.

2. Having regard to the lengthy arguments advanced by the learned counsel for the respective parties, the matter was taken up for final hearing.

3. By this application, the applicant seeks permission to withdraw from the District Court, Bharuch the amount of Rs. 3,06,35,000/- deposited by the respondent herein and interest accrued thereon subject to such terms and conditions that may be deemed fit by this court.

4. The application has been filed in the backdrop of the following facts.

4.1 The applicant - M/s. Manibhai & Brothers is a partnership firm which is engaged in the business of construction activities as Civil Works Contractors. The respondent - M/s. Birla Cellulosic had awarded a contract to the applicant for construction of a Weir/Bridge across river Kim. Various disputes arose between the parties in respect of the contract and ultimately, the matter was referred to the sole arbitration of Hon'ble Mr. Justice D.A. Desai (Retired) who rendered the final award on 18th August, 2002 wher