Welspun Enterprises Limited vs Ravi Infrabuild Projects Pvt. Ltd
2023 Latest Caselaw 2131 Raj

HIGH COURT OF JUDICATURE FOR RAJASTHAN JODHPUR

D.B. Civil Misc. Appeal No. 488/2022

Welspun Enterprises Limited

----Appellant Versus Ravi Infrabuild Projects Pvt. Ltd

----Respondent

For Appellant(s) : Mr. M.S. Singhvi, Sr. Advocate Ms. Mumtaz Bhalla Mr. Karan Chopra (All through VC) For Respondent(s) : Mr. V. Giri, Sr. Advocate Mr. K. Goswami (All through VC)

HON'BLE MR. JUSTICE VIJAY BISHNOI HON'BLE MR. JUSTICE MADAN GOPAL VYAS

Order

09/03/2023

Arguments heard and concluded.

Judgment reserved.

At this stage, Mr. V. Giri, learned Senior Advocate has

requested that on last occasion, he assured this Court that till this

appeal is pending before this Court, the respondent would not

press its application under Section 17 of the Arbitration and

Conciliation Act, 1996 (hereinafter to be referred as 'the Act of

1996') before the Arbitration Tribunal. It is submitted that as a

matter of fact, two applications under Section 17 of the Act of

1996 are pending consideration before the Arbitration Tribunal and

out of which one is in relation to restrain the appellants from

encashing the bank guarantees, whereas another application is

with regard to permission to deposit the entire amount involved in

the bank guarantees. Mr. Giri has prayed that the Arbitration

(2 of 2) [CMA-488/2022]

Tribunal may be allowed to consider the application under Section

17 of the Act of 1996 with a prayer for depositing the entire

amount involved in the bank guarantees.

Having considered the submissions made by Mr. Giri, learned

Senior Advocate, we are of the opinion that any order passed by

the Arbitration Tribunal on the application under Section 17 of the

Act of 1996, with a prayer for depositing the entire amount

involved in the bank guarantees, will further create comlications,

therefore, it is expected that the Arbitration Tribunal shall not pass

any order on the application under Section 17 of the Act of 1996,

seeking depositing the entire amount involved in the bank

guarantees, till the decision in this appeal is delivered.

(MADAN GOPAL VYAS),J (VIJAY BISHNOI),J 1-Arun/-

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