CENTRAL BANK OF INDIA vs STATE OF GUJARAT & ORS.

The Supreme Court held that in the absence of a stay order under Order 41 Rule 1 of the CPC, the decree was executable, and the judgment-debtor's deposit of the decretal amount in the executing court was valid. The Court ruled that once the decretal dues were deposited, there was no justification for the High Court's order to refund the amount to the judgment-debtor. The Court emphasized that the High Court could either direct payment to the decree-holder with safeguards for the judgment-debtor or order the amount to be deposited or invested until the appeal's resolution.