OSIYER ROY Vs. SATNARAYAN ROY

JUDGEMENT

(1.) THIS revision has been filed to raise a technical and legal plea to the effect that should an award be not challenged under section 34 or otherwise of the Arbitration and Conciliation Act 1996 ? Would the award obtain a finality ?

(2.) THE court views the situation that the revisionist has taken a plea which is inequitable. Once the parties had agreed to resolve disputes between them that a sum of Rs. 2,78,965/ - would be paid by the opposite party -petitioner Osiyer Roy and the award had been acted upon after the payment of Rs. 46,000/ - but challenged the award midway is not appropriate and against the balance of convenience and equity both.

(3.) WITH the revisionist being permitted two months to deposit the balance payment before the executing court (Sub Judge -1, Chapra) in Execution Case no. 6 of 2002, further execution proceeding shall remain stayed. If the amount is not deposited the execution proceeding shall be put in motion forthwith.