AO/250/2021
2023 Latest Caselaw 158 UK

      IN THE HIGH COURT OF UTTARAKHAND
                 AT NAINITAL
           HON'BLE THE CHIEF JUSTICE SRI VIPIN SANGHI
                              AND
              HON'BLE SRI JUSTICE MANOJ K. TIWARI

                         10th JANUARY, 2023
          APPEAL FROM ORDER No. 250 OF 2021

Between:

M/s Aska Equipments Ltd.
                                                                  ...Appellant

and

The Gujarat State Disaster
Management Authority.
...Respondent

Counsel for the appellant.          :   Mr. Jitendra Chaudhary and Mr.
                                        Siddhartha Sah, the learned counsels.

Counsel for the respondent.         :   Mr. Ramji   Srivastava,   the   learned
                                        counsel.

JUDGMENT : (per Sri Vipin Sanghi, C.J.)

              Counsel         for   the       appellant       has       taken

instructions.       He states that the appellant is ready and

willing to accept the impugned order passed by the

Commercial Court, under Section 34 of the Arbitration

and Conciliation Act, 1996, setting aside the award, and

to re-initiate arbitration, so that a fresh award is rendered

after hearing all the parties.


2.            We, accordingly, dispose of this Appeal as

withdrawn. The matter is remanded back to the Arbitral
 Tribunal to render a fresh award, after hearing the parties

on the basis of the record already available. The Arbitral

Tribunal shall hear the parties, and pass a reasoned

award.



3.          The appellant has received Rs. 2.50 crores

under the impugned award, pursuant to the directions

passed by the Supreme Court. However, no security has

been furnished by the appellant, while receiving the said

amount. Since the award has been set-aside, and the lis

is still pending, it is absolutely necessary that the

appellant    should   furnish   a   solvent   security   to    the

satisfaction of the Commercial Court in the form of either

a charge on an immovable property, or by furnishing a

bank guarantee.


4.          Counsel for the appellant, on instructions,

states   that   the   appellant     shall   furnish   the     bank

guarantee.      Let   the   bank    guarantee    be    furnished

positively within four weeks, to the satisfaction of the

Commercial Court.


5.          The Appeal stands disposed of in the aforesaid

terms.



                                2
 6.         Consequently, pending applications, if any, also

stand disposed of.



                                    ________________
                                     VIPIN SANGHI, C.J.


                                   _________________
                                   MANOJ K. TIWARI, J.

Dt: 10th January, 2023 Rahul