TATA CAPITAL LIMITED Vs. SHRI BISHNU PRASAD YADAV

JUDGEMENT

(1.) The Court: The affidavit of service filed in Court today be kept on record. Learned counsel having instruction to appear on behalf of the respondents seeks some time to file his Vakalatnama.

(2.) Accordingly, leave is granted to the learned Advocate to file his Vakalatnama by the end of this week. An interesting question has been raised in the present matter. The instant application under Sec. 9 of the Arbitration and Conciliation Act, 1996 has been filed in respect of the subject-matter of an ongoing arbitral proceeding, where there is a pending application under Sec. 17 of the 1996 Act as well at the behest of the petitioner.

(3.) Learned counsel for the petitioner submits that the rider in Sec. 9(3) of the 1996 Act is satisfied in the present case inasmuch as the remedy available before the Arbitrator under Sec. 17 is not efficacious, thereby empowering this Court to interfere under Sec. 9.