Ratnam Sudesh Iyer vs Jackie Kukubhai Shroff
2021 Latest Caselaw 6763 Bom

                                                                                 2-apl-4901-2020.doc




                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                   ORDINARY ORIGINAL CIVIL JURISDICTION

                    ARBITRATION APPEAL (L) NO. 4901 OF 2020
                                      IN
                     ARBITRATION PETITION NO. 167 OF 2015
                                    AND
                   INTERIM APPLICATION (L) NO. 4905 OF 2020
                                      IN
                   ARBITRATION APPEAL LD VC NO. 99 OF 2020
                                      IN
                     ARBITRATION PETITION NO. 167 OF 2015

Ratnam Sudesh Iyer                                                     ...Appellant

            Versus

Jackie Kakubhai Shroff                                                 ...Respondent
                                                ......

Mr.Dinyar Madon, Senior Advocate a/w. Ms.Ankita Singhania,
Mr.Vishal Gandhi and Ms.Anvitaa Rastogi i/b.M/s. Gandhi &
Associates for the Appellant.

Mr.Shyam Dewani a/w. Mr. Chirag Chanani i/b. M/s. Dewani
Associates for the Respondent and the Applicant in IAL No. 4905 of
2020.
                               .......

                                        CORAM : R.D. DHANUKA &
                                                 V.G.BISHT, JJ.

DATE : 27th April, 2021

P.C.:

1. Heard learned Senior Counsel appearing for the appellant and

learned Counsel appearing for the respondent.

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                                                                         2-apl-4901-2020.doc

2. The matter is placed on board for seeking stay of the judgment

dated 20th April, 2021 passed by this Court on the application filed

by learned Senior Counsel for the appellant.

3. Mr. Madon, learned Senior Counsel for the appellant, states

that the appellant could not remain present when the judgment was

pronounced by this Court on 20th April, 2021. He submits that the

respondent has applied for withdrawal of the said amount deposited

by the appellant with the HDFC Bank Ltd. immediately upon

pronouncement of the said judgment on 20th April, 2021

4. Mr.Dewani, learned Counsel for the respondent, on the other

hand, opposes this application for stay on the ground that the

respondent is deprived of the said amount lying deposited with the

HDFC Bank in the account of the appellant and has also lost

substantial amount of interest on the said amount.

5. A perusal of the said judgment dated 20 th April, 2021 indicates

that this Court had granted injunction against the appellant not to

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2-apl-4901-2020.doc

withdraw the said amount for a period of eight weeks from the date

of the said judgment. This Court granted liberty to the respondent

to file appropriate proceedings in respect of the said amount.

6. Since the appellant seeks to impugn the said judgment before

the Hon'ble Supreme Court, the directions issued in paragraph

No. 104 (b) is extended till 31 st July, 2021. The respondent shall not

apply for withdrawal/ withdraw the said amount till 31st July, 2021.

7. If any Special Leave Petition is filed by the appellant, a copy of

the Petition shall be served upon the respondent in advance.

8. Praecipe is disposed of in aforesaid terms.

         (V.G.BISHT, J.)                     (R.D.DHANUKA, J.)




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