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Judgment
Sri Udaya Holla, learned Senior Counsel appearing for Dua Associates, Advocates for the appellant, Ms.Anuradha Agnihotri & Sri Deepak Bhaskar, learned Counsel appearing for respondent No.1, after arguing for sometime, submit that the appeal may be disposed of by directing the Court of LX Additional City Civil Judge, Bengaluru to dispose of the appellant''s application in AA No.203/2017 which has been filed under Section 9 of the Arbitration and Conciliation Act, 1996 expeditiously and in any event within one month from today. The learned Counsel submit that the MFA No.3407/2017 parties will not seek for any adjournment in the matter. The learned Counsel further submit that, till the disposal of the aforesaid application, respondent No.2 namely, IDBI Bank Limited may be restrained from making any payment in respect of the following two letters of credit:
Letter of Credit dated 28.02.2017 bearing sender unique Ref. No. 850611 and documentary credit number 170377FLCU00042.
Letter of Credit dated 14.03.2017 bearing documentary credit number 170377FLCU00051.
In view of above, we make the following order:
(i) The Court of LX Additional City Civil Judge, Bengaluru is directed to dispose of the aforesaid application in AA No.203/2017 expeditiously and in any event within one month from today preferably by taking the case on a day-to-day basis.
(ii) Till the disposal of the application, respondent No.2-IDBI Bank shall not make any payment in respect of the aforesaid two letters of credit and thereafter, the payment shall depend on the order to be passed by the Court on the application in AA No.203/2017.
MFA No.3407/2017 The appeal is disposed of in the aforesaid terms. In view of disposal of the appeal, IA Nos.2 & 3 of 2017 do not survive for consideration; they stand disposed of accordingly.
Appeal disposed of.