BHUPESH BHAYANA Vs. KUNAL SETH

JUDGEMENT

(1.) Leave granted.

(2.) Arbitration proceedings dating back to September, 2012, culminated in cross appeals by both parties under Sec. 37 of the Arbitration and Conciliation Act, 1996 [hereinafter, 'the Arbitration Act']. The common judgment dtd. 27/9/2023 passed in the said appeals by a Division Bench of the Delhi High Court is presently under challenge by one of the parties.

(3.) By order dtd. 10/7/2024, this Court directed the appellants to deposit Rs.50,00,000.00 before the High Court without prejudice to their rights and contentions. Disbursal of that amount to the respondents was made subject to the final outcome of these cases. On 5/12/2025, this Court stayed further proceedings in OMP(ENF)(COMM) No. 54 of 2024, the execution petition filed by the respondents before the Delhi High Court in relation to the arbitral award in question.