In C.R. No. 1503 of 2023 (O&M)-PUNJ HC- If request is made by parties for expeditious disposal of objection petition u/s 34 of Arbitration & Conciliation Act, then same would be considered in accordance with law, says P&H HC while asking petitioner to deposit 75% of awarded amount
Justice Avneesh Jhingan [15-03-2023]

Read Order:  STATE OF PUNJAB VS M/S CDS INFRA PROJECTS LTD. AND OTHERS

Mansimran Kaur

Chandigarh, March 18, 2023:  While considering two revision petitions filed against the order whereby during the pendency of the objection petitions under Section 34 of the Arbitration and Conciliation Act, 1996, the petitioner was directed to deposit 100% of the awarded amount in the form of fixed deposit, the Punjab & Haryana High Court has took into account the respondent’s submissions that he had no objection if the impugned order was modified to the extent that 75% of the amount is deposited instead of 100%.

Justice Avneesh Jhingan disposed of the instant petitions by observing that there  is   no doubt that in case a request is made by the parties before the Court concerned for expeditious disposal of objection petition under Section 34 of the Act, the same would be considered in accordance with law. 

These two revision petitions were filed on being aggrieved of order dated February 1, 2023 whereby during the pendency of the objection petitions under Section 34 of the Arbitration and Conciliation Act, 199, the petitioner was directed to deposit 100% of the awarded amount in the form of fixed deposit. 

 Counsel for the petitioner on instructions submits that as per offer given to respondents before this Court on March 9, 2023, the amount shall be deposited with the Court concerned within fifteen days from today. 

 Advocate for respondents submitted that he had no objection if the impugned order was modified to the extent that 75% of the amount is deposited instead of 100%. He further submitted that objections under Section 34 of the Act be decided in a time bound manner.

In view of above, the petitions were disposed of and an impugned order dated February 1, 2023 was from today with the Court concerned. 

“There is   no doubt that in case a request is made by the parties before the Court concerned for expeditious disposal of an objection petition under Section 34 of the Act, the same would be considered in accordance with law," the Court further observed. 

The petitions were disposed of accordingly.