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Arbitration Revision No.15/09
State of M.P. & another M/s A.C.Chenna Reddy
6.4.2011
Shri P.K.Kaurav, learned Dy.A.G. for applicants.
Shri V.R.Rao, learned Sr.Advocate with Shri S.Rao, Counsel
for respondent.
I.A.No.121/10 for stay of the impugned award dated 1.4.2009
passed by the M.P. Arbitration Tribunal, Bhopal in Reference Case
No.23/07
A prayer is made for staying the arbitration award passed by
the aforesaid Tribunal. The Tribunal passed an award of
Rs.1,37,74,000/- in favour of respondent alongwith interest at the rate
of 9% per annum with effect from 22.2.2006. It is stated by the
applicants that the respondent has initiated execution proceedings
and is trying to recover the aforesaid amount. It is further submitted
by Shri Kaurav that the company is situated at Mumbai and in case
this revision is allowed, there may be a possibility that the aforesaid
amount may not be recovered from the respondent.
Prayer is opposed vehemently by respondent who submitted
that in the case, the most of the amount relates to security and bank
guarantees which were furnished by the respondent and apart from
this, meagre amount has been allowed in respect of the claim raised
by the respondent.
At present, we are not inclined to decide aforesaid dispute as
we propose to list this case for final hearing at an early date.
Accordingly, we direct that this case be listed for final hearing on
19.7.2011. For any reason, this revision is not heard, the parties may
press for vacation of this interim order.
Till next date of hearing, operation of the impugned award
dated 1.4.2009 in Reference Case No.23/07 shall remain stayed.
Record of the Tribunal be sent for. Applicants to file private
paper book in four copies as required in Chapter 16 of the High Court
of M.P. Rules, 2008 duly numbered and indexed within a period of 60
days from today.
(Krishn Kumar Lahoti) (Smt.Sushma Shrivastava)
C. Judge Judge