JAGSON INTERNATIONAL LIMITED Vs. HINDUSTAN AERONAUTICS LIMITED

JUDGEMENT

(1.) These applications (lAs. 3969/99 & IA. 10309/99) arise from the Award dated 24/03/1993.

(2.) The first application, i.e., IA. 3969/99 is filed On behalf of respondent No. 1/H.A.L. under Section 151 Civil Procedure Code praying for stay of the operation of the impugnedAward dated 24.3.1993. The prayer clauses in the said application read as follows :-a) Stay of operation of the Award dated 24.3.99 to the extent that the Awarddirects the Applicant to deliver the aircraft to the plaintiff in flying conditionwithin one week of receipt of payment of Rs. One crore, and levies a penaltyof Rs. 50,000.00 per day upon the failure of the Applicant to do so within oneweek of receipt of the payment. b) Permit the Applicant to encash the cheque bearing No. 175451 dated01.4.1999 drawn on State Bank of Hyderabad, for the Sum of Rs. One crore,issued by the Plaintiff in favour of the Applicant, pending disposal of theobjections, and further directs the Plaintiff to take possession of the aircraftfrom the Applicant at Kanpur in as is where is condition."

(3.) The second application (IA. 10309/99) is filed on behalf of the petitioner/JagsonInternational Ltd. (Hereinafter referred to as 'Jagson') under Section 151 CPCseeking directions as to delivery/return of the cheque dated 1.4.1999 for Rs. Onecrore by the respondent as petitioner is no more interested/willing to make paymentof Rs. One Crore as the respondent has already defaulted in complying with theAward. The prayer clause in IA. 10309/99 reads as follows:-