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1. After the matter was argued at some length, the Learned Counsel appearing on behalf of the Applicant sought time to file a Rejoinder to the Affidavit in Reply.

2. The stand taken by the Respondents in the Affidavit in Reply is essentially that the Agreement, based on which the Arbitration has been invoked, was a backdated Agreement, which was entered into after the entire Mugdha 1 of 2 2 18-CARAP 236-21.doc transaction between the parties had infact come to an end and all payments made by the Applicant to the Respondents had been duly discharged. It is the contention of the Learned Counsel for the Respondents that nothing remained in the matter when the said Agreement was allegedly executed. It is for this reason that the Learned Counsel for the Applicant seeks time to file a Rejoinder.