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(2024) Law Today Live Doc. Id. 19028 = 2024(2) L.A.R. 135
(Arising out of S.L.P (Civil) No(s).15229-15231 of 2020)
Decided on: 04.03.2024
For Petitioner(s):
Ms. Aruna Gupta, AOR
For Respondent(s):
Mr. Bobby Anand, Adv., Mr. Rahul Malhotra, Adv., Ms. Sanyogita Jain, Adv., Mr. Avinash Gautam, AOR
Arbitration and Conciliation Act, 1996 (26 of 1996), Section 34, 37 – Arbitration appeal – Stay -- Substantive appeal pending against an order made on a petition u/s 34 of the Arbitration Act -- It will be appropriate if the interim stay continued till the disposal of the appeal -- If the appeal is not heard within a period of one year, it will be open for the respondent to make a fresh application in the pending appeal for withdrawal of the amount on appropriate terms and conditions.
(Para 3-5)
ORDER
1. Heard the learned counsel appearing for the parties.
2. Leave granted.
3. The substantive appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (for short, “the Arbitration Act”) is pending against an order made on a petition under Section 34 of the Arbitration Act.
4. Looking to the controversy, it will be appropriate if the interim stay granted by this Court vide order dated 17th December, 2020, is ordered to be continued till the disposal of the appeal under Section 37 of the Arbitration Act. Accordingly, we direct that the order of stay granted by this Court on 17th December, 2020 shall continue to operate till the disposal of the appeal under Section 37 of the Arbitration Act. The High Court may take up the appeal for hearing.
5. If the appeal under Section 37 of the Arbitration Act is not heard within a period of one year from today, it will be open for the respondent to make a fresh application in the pending appeal for withdrawal of the amount on appropriate terms and conditions.
6. If such an application is made, the High Court will decide the same without being influenced by the stay granted by this Court.
7. The Appeals are disposed of on the above terms.
Order accordingly.
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