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Judgment
(Per Hon’ble Sri Justice D.Ramesh
The present Commercial Court Appeal is filed by the appellant seeking to set aside the ex parte order dated 16.10.2026 passed in C.A.O.P. No.19 of 2026 on the file of the learned Special Court for Trial and Disposal of Commercial Disputes, Vijayawada.
Heard Sri Avinash Desai, learned Senior Counsel, appearing virtually on behalf of Sri D.S. Sivadharshan, learned counsel for the appellant, and Sri Dammalapati Srinivas, learned Senior Counsel, appearing on behalf of the 1st respondent.
After hearing the matter for a considerable length of time, learned Senior Counsel appearing on behalf of the appellant has given an undertaking that the appellant shall furnish a bank guarantee for an amount of Rs.7,79,93,675/- on or before 05.11.2026, before proceeding further with the petition filed under Section 9(1) of the Arbitration and Conciliation Act, 1996, read with Section 10(3) of the Commercial Courts Act, 2015.
In view of the aforesaid undertaking, it is observed that, upon furnishing the bank guarantee, the learned Commercial Court may proceed to hear the matter on its merits and pass appropriate orders in accordance with law.
In the meanwhile, the attachment ordered vide the impugned order dated 16.10.2026 in respect of the following bank accounts shall continue, and the said accounts shall remain frozen until the bank guarantee is furnished:
HDFC Bank Account No.: 00030330004897 IFSC Code: HDFC0000240
Axis Bank Account No.: 149010200000505 IFSC Code: UTIB0000141
It is made clear that this Court has not expressed any opinion on the merits of the matter, and the present order is passed solely in view of the undertaking of the learned Senior Counsel appearing on behalf of the appellant.
In view of the above observations and the undertaking, this Commercial Court Appeal is disposed of.
It is needless to observe that the petition filed under Section 9(1) of the Arbitration and Conciliation Act, 1996, shall be considered and disposed of by the learned Commercial Court as expeditiously as possible, in accordance with law.
There shall be no order as to costs.
Consequently, all pending miscellaneous applications, if any, shall stand closed.