Supreme Court has not laid down such hard and fast rule.
But such is the upshot of judgement by Justice G S Singhvi and Justice S J Upadhyay in case of New India Assurance Co versus Gopali reported in 2012 (12) SCC 384 on 5-7-2012
In some Countries, there are laws that when you ask for stay order, you must file an undertaking that in the event of stay being vacated by Court, you will pay damages to other side.
You can try looking up above judgement and see what you can do.
Haresh Raichura
6/3/2013
