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Comed Chemicals Limited vs Blue Star Limited on 7 October, 2016

Bench: J. Chelameswar, Abhay Manohar Sapre

                                                 1

     ITEM NO.1                          COURT NO.5                 SECTION IX

                               S U P R E M E C O U R T O F      I N D I A
                                       RECORD OF PROCEEDINGS

     Petition(s) for Special Leave to Appeal (C)               No(s).   11861/2015

     (Arising out of impugned final judgment and order dated 19/02/2015
     in CA No. 2084/2015 19/02/2015 in FA No. 321/2015 passed by the
     High Court Of Gujarat At Ahmedabad)

     COMED CHEMICALS LIMITED                                         Petitioner(s)

                                                VERSUS

     BLUE STAR LIMITED                                               Respondent(s)

     (with interim relief and office report)

     Date : 07/10/2016 This petition was called on for hearing today.

     CORAM :
                         HON'BLE MR. JUSTICE J. CHELAMESWAR
                         HON'BLE MR. JUSTICE ABHAY MANOHAR SAPRE

     For Petitioner(s)             Mr. M.R. Calla, Sr. Adv.
                                   Mr. Santosh Kumar - I,Adv.

     For Respondent(s)             Mr. Bankey Bihari,Adv.
                                   Mr. Shivanshu Kumar, Adv.
                                   Ms. Medha Tandon, Adv.

                         UPON hearing the counsel the Court made the following
                                             O R D E R

The special leave petition is preferred against an interlocutory order dated 19.2.2015 in an appeal under Section 37 of the Arbitration Act. By an order dated 24.4.2015, this Court, while issuing notice, directed the stay of the execution of the proceedings, subject to the condition that the petitioner deposits an amount of Rs. 50 lakhs before the executing Court within a period of three weeks and further directed that this amount shall be kept in a short-term interest bearing fixed deposit.

In the circumstances, we do not see any reason to Digitally signed by DEEPAK MANSUKHANI Date: 2016.10.07 22:01:43 IST Reason: keep the special leave petition pending. The special leave petition is disposed of permitting the sole respondent to withdraw the amount deposited by the petitioner pursuant to the order dated 24.4.2015 along with interest accrued thereon subject to the condition that the respondent  2 furnishes immovable property security to the satisfaction of the executing Court.

(DEEPAK MANSUKHANI)                   (RAJINDER KAUR)
    AR-CUM-PS                           COURT MASTER