MANAGING DIRECTOR Vs. UNION OF INDIA

JUDGEMENT

(1.) The learned counsel for the petitioner wishes to withdraw the present application with liberty to file an appropriate application before the learned Additional District Judge (Commercial), Dehradun.

(2.) The learned counsel for the petitioner shall file a memo to that effect, which shall be kept on record.

(3.) The writ application is dismissed as withdrawn with liberty to the petitioner to file an appropriate application before the learned Additional District Judge (Commercial), Dehradun (P-1) in Arbitration Case No.48 of 2021 to reconsider the matter and to decide, after hearing the respondent, the plea of the present petitioner i.e. the appellant before the Additional District Judge (Commercial), Dehradun to deposit 75% of the awarded amount under challenge by subtracting the amount already deposited in the first round of litigation under Sec. 34 of the Arbitration and Conciliation Act, 1996. If such an application is filed, in our opinion, the amount already paid by the petitioner should be considered for the purpose of calculating the percentage requisite of 75% of the amount awarded to be deposited under Sec. 19 of the Micro, Small and Medium Enterprises Development Act 2006 (for short "MSMED Act"). However, the Additional District Judge shall take a decision as per law after hearing both the parties by passing a speaking order, as early as possible. The petitioner is also at liberty to file an appropriate application for non-disbursal of the amount in favour of the respondents till the disposal of the application under Sec. 34 of the Arbitration and Conciliation Act i.e. Arbitration Case No. 48 of 2021.