KAMAL COTSPIN PVT. LTD Vs. CANARA BANK

JUDGEMENT

(1.) Heard on admission.

(2.) Learned counsel for the petitioner contended that the aforesaid proceeding arises out of the Arbitration Award dtd. 19/08/2017 and the execution of the same is pending before the IXtth Additional District Judge, Indore. He further submitted that by virtue of Sec. 15(2) of the the Act of 2015, all the proceedings of suits, applications and arbitration cases are liable to be transferred to the Commercial Courts, therefore, the execution proceedings, initiated based on the award passed under the Arbitration and Conciliation Act 1996, ('hereinafter to be referred to as 'the Act of 1996') are also liable to be transferred to the Commercial Courts.

(3.) On the other hand, learned counsel for the respondent submits that Sec. 15 of the Act of 2015 nowhere prescribes that the execution proceedings under Act of 1996 are liable to be transferred. He further contended that the award is liable to be executed by the Court where the properties are situated, therefore, there being no corresponding amendment in the Act of 1996 for the execution of the award by the Commercial Court only. In such a situation, the application is not tenable and is liable to be dismissed.