Interim Order 1

Order Details: COPY OF JUDICIAL PROCEEDINGS
Pdf Text: OMP (COMM.) No. 112/22
Himalaya Food International ltd v/s Dairy Chem Corporation
15.07.2022
Fresh petition received by way of allocation. It be
checked and registered.
Present: Sh. Malak Bhatt and Sh. Rajat Bector, ld. Counsels for
petitioner.
This is a petition under Section 34 of the Arbitration and
Conciliation Act, 1996 against the award dated 14.01.2020 passed by
the Arbitrator.
Along with the petition, an application is moved under
Section 36 (2) of the Act for stay of the arbitral award dated
14.01.2020. It is stated that petitioner has a prima facie case in its
favour and balance of convenience also lies in its favour and in case,
stay is not granted, it will suffer irreparable loss and injury.
As per Section 36 of the Arbitration and Conciliation
Act, 1996, as a mandate by the Act of 2015, the application for grant
of stay in the case of Arbitral award for payment of money, the
provisions of CPC 1908 are applicable. As per Order 21 Rule 5, CPC,
the applicant has to deposit security for the performance of the money
decree and the court cannot grant stay unless the security is furnished.
Therefore, it is incumbent on the objector to furnish security for stay
of the execution of the arbitral award.
Taking into consideration on the facts & circumstances,
the impugned award is stayed till 14.09.2022, subject to the petitioner
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depositing in the Court 100% of the Arbitral Amount in the form of
the FDR in the name of the Court within 4 weeks from today.
Issue notice of the petition to the respondent on filing of
PF/RC/Speed post/Courier/E-mail and all other modes as per High
Court Rules for 14.09.2022.
SANJIV JAIN
District Judge/Commercial Court-03
New Delhi / 15.07.2022
Note: In case any document or any judgment is to be sent, the
same may be sent on the e-mail id: readerdjcc03phc@gmail.com
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