Bombay High Court
Sbicap Securities Limited vs Shailesh Bhupatrai Bhalaria And Anr on 29 September, 2021
Author: G. S. Kulkarni
Bench: G. S. Kulkarni
3-IAL 20254-21 in arbpst 20247-21.doc
Prajakta Vartak
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INTERIM APPLICATION (L.) NO.20254 OF 2021
IN
ARBITRATION PETITION (ST.) NO.20247 OF 2021
SBICAP Securities Limited ...Applicant
V/s.
Shailesh Bhupatrai Bhalaria & Anr. ...Respondents
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Mr. Simil Purohit with Mr. Deepak Dhane i/b. Corporate Pleaders for
Applicant.
Mr. Ranjit Bhonsale with Mr.Anshuman Sugla i/b. Joby Mathew &
Associates for Respondents.
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CORAM : G. S. KULKARNI, J.
DATE : SEPTEMBER 29, 2021
PC :
1. This interim application has been filed in a petition filed by the applicant under Section 34 of the Arbitration and Conciliation Act, 1996. By a detailed order passed today, the Section 34 petition filed by the applicant has been admitted. By the interim application, the applicant/ petitioner has prayed for stay of the impugned award.
2. Mr.Purohit has pointed out that respondent no.2 may release the award amounts to respondent no.1 as per its rules, as the amount was already debited. The NSE is directed not to release the amounts debited from the applicant and keep the amount invested for the benefits, if at all it accrues to the respondents at the final hearing of the petition.
2. Interim application is accordingly disposed of.
3. NSE to act on an authenticated copy of this order.
(G. S. KULKARNI, J.) Digitally signed by PRASHANT PRASHANT VILAS VILAS RANE RANE Date:
2021.10.02 19:11:05 +0530 1/1