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Judgment
Heard learned counsel for the appellant as well as learned counsel appearing on caveat.
Admit. Issue notice.
Mr. Sandeep Shah appears for respondent No.1. Requirement of service on respondent Nos. 2 & 3 is dispensed with.
Call for the record. Requisition be given "dasti" to learned counsel for the appellant.
Heard on stay application.
Though the present appeal questions the passing of the award by the competent authority, dismissal of the claim raised before the arbitrator and dismissal of objections under Section 34 of the Arbitration and Conciliation Act, 1996, in the circumstances of the case wherein several legal issues arise pertaining to the validity of the award passed by the Competent Authority, dismissal of the claim by the arbitrator and the rejection of the objections under Section 34, it is directed that if the appellant deposits a sum of Rs. 25,00,000/- with the Competent Authority i.e. SDO, Mount Abu, the rest of the award dated 13.05.2013 (Annexure 13) passed by the Competent Authority shall remain stayed during the pendency of the appeal. The amount so deposited be disbursed to respondent No. 1 on filing an undertaking that in case the present appeal is allowed, the amount shall be paid back along with interest @ 6% per annum.
The stay application stands disposed of.