JUDGMENT : 1. The appellant is before us by an application. It is a statutory body under the Central Government. 2. Mr Mukherjee, learned senior advocate appearing for the applicant, submits that his client is suffering liquidity crunch. Our order dated 4th August 2021 directing it to deposit Rs.3.5 crore with the learned Registrar General, be modified to the extent that instead of cash deposit, the applicant would be permitted to furnish a bank guarantee. 3. Learned advocate Mr Chowdhury opposes this prayer. 4. Our view is that the intention of the legislature is to secure the awarded sum pending hearing of the appeal under section 37 of the Arbitration and Conciliation Act, 1996. The principles in obtaining such security are those in Order XLI Rule 5(3)(c) of the Code of Civil Procedure, 1908. In the Code, security has not been restricted to only cash security. It could be any security to the satisfaction of the court, sufficient, to satisfy the decree or order that “may ultimately” be made. 5. The respondent has a point. If the security is in cash and invested in a bank, it could earn interest and the principal along with the interest would go to the respondent in the event of dismissal of the appeal. A bank guarantee is only a fixed amount. In the event of the respondent succeeding, the bank guarantee may not be sufficient to satisfy the award with accrued interest till the disposal of the appeal. 6. Taking the inconvenience of the applicant into account as also the point which the respondent has been able to make, we dispose of this modification application – CAN No.2 of 2021 – by directing that instead of cash security, the applicant would be entitled to furnish an automatically renewable bank guarantee for Rs.4.5 crore by a nationalised bank in favour of the learned Registrar General of this court, to be furnished by 31st August 2021 which will be retained by the learned Registrar General to the credit of the appeal. This enhanced amount would take care of the interest amount, in case the respondent is successful. 7. We make it clear that after disposal of the appeal, the bank guarantee so furnished would abide by any order to be passed by the appropriate court. 8. The learned court below shall hand over the revoked or cancelled guarantee with such endorsement to the applicant.