YAMUNA CABLES ACCESSORIES PVT. LTD Vs. DESAI ENTERPRISE

JUDGEMENT

(1.) Learned advocate Mr. S. P. Majmudar appeared for the petitioner and learned senior advocate Mr. B. S. Patel with learned advocate Mr. Umang Oza appeared for the respondents.

(2.) By way of the present petition, the petitioner has invoked the jurisdiction of this Court under Article 227 of the Constitution of India to challenge the order dtd. 29/3/2022 passed by the learned Additional District Judge, Panchmahal at Halol, whereby the application filed by the petitioner below Exh. 20 for extension of time to deposit the 75% of the award amount as per the order dtd. 11/2/2022 passed below Exh. 5 in Commercial Court Application (CMA) No. 1 of 2021 was rejected.

(3.) The facts to be stated shortly are that the arbitration proceedings took place between the petitioner - M/s Yamuna Cable Accessories Pvt. Ltd. and the respondent - Desai Enterprises which culminated into award of the sole arbitrator dtd. 7/2/2020. The petitioner was directed under the said award to pay the respondent an amount of Rs.3,46,07,118.31 paisa with interest at 12% from the date of award till its realization. It appears that thereafter the respondent also filed an application under Sec. 33 of the Arbitration and Conciliation Act , 1996 before the Arbitrator for passing an additional award. The Arbitrator directed the petitioner to pay additional Rs.1,50,000.00 with interest from 7/2/2020 till its realization.