This would be somewhat easy considering you are working with a table with fixed proportions. Simply create a DIV inside the column you'd like to scroll vertically and give it the fixed dimensions of your liking and append to it an 'overflow-y:auto' attribute. The verflow-y attribute will make sure only to present a scrollbar if the content of the div exceeds viewable area. Example:
<style type="text/css">
.scrollable { width:300px; height:400px; overflow-y:auto; overflow-x:hidden; clip-rect:(0px, 300px, 400px, 0px); }
</style>
<table width="500" height="500" cellpadding="0" cellspacing="0" border="0">
<tr height="100">
<td colspan="2">Banner</td>
</tr>
<tr height="400" valign="top">
<td width="200">Left Column</td>
<td width="300"><div class="scrollable">Scrollable area<br><br><br><br><br><br><br><br><br><br><br>Scrollable area<br><br><br><br><br><br><br><br><br><br><br></div></td>
</tr>
</table>
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