Supreme Court - Daily Orders
Apollo International Limited Now ... vs Man Structurals Pvt. Ltd on 13 December, 2024
Bench: Abhay S. Oka, Pankaj Mithal
Petition(s) for Special Leave to Appeal (C) No(s). 29157/2024
ITEM NO.39 COURT NO.5 SECTION IV-B
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). 29157/2024
[Arising out of impugned final judgment and order dated 20-11-2024
in CR No. 5996/2024 passed by the High Court of Punjab & Haryana at
Chandigarh]
APOLLO INTERNATIONAL LIMITED
NOW APOLLO GREEN ENERGY LIMITED Petitioner(s)
VERSUS
MAN STRUCTURALS PVT. LTD. Respondent(s)
(FOR ADMISSION and IA No.281678/2024-PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES) Date : 13-12-2024 This petition was called on for hearing today.
CORAM : HON'BLE MR. JUSTICE ABHAY S. OKA
HON'BLE MR. JUSTICE PANKAJ MITHAL
For Petitioner(s) Mr. Devadatt Kamat, Sr. Adv.
Mr. Shreeyash Uday Lalit, Adv.
Mr. Revanta Solanki, Adv.
Mr. Ajay Desai, Adv.
Mr. Naveen Sharma, Adv.
Ms. Swati Bhushan Sharma, Adv.
Mr. S.K. Sharma, Adv.
Mr. Ishaan George, AOR
For Respondent(s) Mr. Mukul Rohatgi, Sr. Adv.
Mr. Pancham Surana, Adv.
Mr. Dheeraj P Deo, AOR
UPON hearing the counsel the Court made the following Signature Not Verified O R D E R Digitally signed by KAVITA PAHUJA Date: 2024.12.13 19:59:35 IST Reason: Heard the learned Senior counsel appearing for the petitioner. Though no case is made out for interference with the order 1 Petition(s) for Special Leave to Appeal (C) No(s). 29157/2024 granting conditional stay, on the prayer made by the learned senior counsel appearing for the petitioner, we extend the time to deposit the amount in terms of paragraph 12 of order dated 6th September, 2024 passed by the Commercial Court by a period of four months from today. If the amount is not deposited within four months from today with the Commercial Court, the stay shall stand vacated without any further reference to the Court.
We make it clear that as soon as the amount is deposited, the same shall be invested in the interest bearing Fixed Deposit in any Nationalised Bank. The Court in which petition under Section 34 of Arbitration and Conciliation Act, 1996 (for short, ‘the Act’), shall not permit withdrawal or disbursement of amount unless a specific application for withdrawal is made by the respondent and unless the petitioner is heard on the application. The High Court which is the Executing Court has attached three Bank Accounts of the petitioner under Order dated 21st October, 2024 passed in OMP (ENF) (COMM) No.18/2024. We direct the Executing Court (High Court) to transfer the amounts to the credit of the four accounts mentioned in paragraph 5 of the order dated 21 st October, 2024 to the court in which application under Section 34 of the Act is pending. The said amount shall be adjusted towards payment of decretal amount in terms of paragraph 12 of order dated 6th September, 2024 as modified above. If it is found that the amount transferred is less than what is payable in terms of paragraph 12, the balance amount shall be payable by the petitioner within a period of four months which was already granted. If the 2 Petition(s) for Special Leave to Appeal (C) No(s). 29157/2024 amount transferred is in excess of amount payable in terms of paragraph 12, necessary refund shall be made by the Court to the petitioner.
The Special Leave Petition is accordingly disposed of. If contempt proceedings is initiated against the petitioner for non-deposit of the amount payable as per the award, it is obvious that on the production of the proof of the deposit of the awarded amount by the petitioner, the contempt proceedings will not proceed further.
Pending application(s), if any, shall stand disposed of.
(KAVITA PAHUJA) (ANU BHALLA)
ASTT. REGISTRAR-cum-PS COURT MASTER (NSH)
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