One Mobikwik Systems Ltd vs Provision Infratech Private Ltd on 27 February, 2023

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Punjab-Haryana High Court

One Mobikwik Systems Ltd vs Provision Infratech Private Ltd on 27 February, 2023

Bench: Avneesh Jhingan

                                                    Neutral Citation No:=2023:PHHC:035905




Civil Revision No. 220 of 2023                             [1]


           IN THE HIGH COURT OF PUNJAB & HARYANA
                        AT CHANDIGARH

                                 Civil Revision No. 220 of 2023
                                 Date of decision: 27th February, 2023

One Mobikwik System Ltd.
                                                                       Petitioner

                                     Versus

Provision Infratech Pvt. Ltd.
                                                                     Respondent



CORAM: HON'BLE MR. JUSTICE AVNEESH JHINGAN

Present:     Mr. Gaurav Chopra, Senior Advocate with
             Ms. Vasundhra Asija, Advocate for the petitioner.
             Mr. D. Bhardwaj, Senior Advocate with
             Mr. Sanjeev Roy, Advocate for the respondent.
                                     ****

AVNEESH JHINGAN, J (Oral):

This petition is filed aggrieved of order dated 30.11.2022 whereby the petitioner was directed to deposit the entire amount awarded during the pendency of objections under Section 34 of the Arbitration and Conciliation Act, 1996 (for short, 'the Act').

Vide order dated 13.1.2023, while issuing notice of motion, as an interim measure the petitioner was directed to furnish bank guarantee for securing the amount due.

Learned counsel for the parties are ad idem that the bank guarantee has been furnished.

Learned senior counsel for the respondent submits that the respondent agrees that the amount is secured, the petition be disposed of with the direction to the court concerned to decide the objections under 1 of 2 ::: Downloaded on - 02-06-2023 18:23:43 ::: Neutral Citation No:=2023:PHHC:035905 Civil Revision No. 220 of 2023 [2] Section 34 of the Act in a time bound manner. He also submits that till the decision of the objections under Section 34 of the Act, no prayers for coercive action against the petitioner shall be made by the respondent.

Learned counsel for the parties on instructions submit that no unwarranted adjournment shall be asked for by either of the parties.

In view of the above, the petition is disposed of. It is expected that the court concerned dealing with the objections under Section 34 of the Act shall make an endeavour to dispose of the objections expeditiously but not later than four months from today.

[AVNEESH JHINGAN] JUDGE 27th February, 2023 mk

1. Whether speaking/ reasoned : Yes / No

2. Whether reportable : Yes / No Neutral Citation No:=2023:PHHC:035905 2 of 2 ::: Downloaded on - 02-06-2023 18:23:44 :::

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Punjab-Haryana High Court