1 AP501/08 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.501 OF 2008 M/s Raj Automobiles ...Petitioners v/s The Jaybharat Credit Ltd. ...Respondents Mr S.R. Saudagar for Petitioners. Mr Dilip Rai i/b Ms Aruna Singh for Respondents. CORAM : D.K. DESHMUKH J. DATE : 25TH MARCH 2011. 2 AP501/08 P.C. :- 1] By consent of parties, the petition is disposed off in following terms. 2] On the petitioners depositing an amount of Rs.94,00,000/- in this Court within a period of six months with due intimation to the respondents, the award impugned in the petition shall stand set aside. Mr Vivek Sharma, Advocate, High Court, having his office at Kamer Building, 2nd Floor, Cawasji Patel Street, Fort, Mumbai 400 001 shall stand appointed as Arbitrator. Parties shall appear before him, he shall decide the dispute in accordance with law. 3] The Arbitrator, while making the award shall make appropriate orders in relation to the amount that is being deposited by the petitioners pursuant to this order. Disposal of that amount which the petitioners would be depositing as per order, shall be governed by the order that may be 3 AP501/08 passed by the Arbitrator. 4] Till the amount is deposited pursuant to this order, property which is attached by the Executing Court, shall continue to be attached. On the amount being deposited as per this order, the attachment will come to an end. The amount, on being deposited, shall be invested in fixed deposit in a nationalised Bank for appropriate period. 5] In case the petitioners fail to deposit the amount as per this order, this petition shall stand dismissed and the respondents shall be entitled to execute the award. Petition is disposed off. Parties to act on the copy of this order duly authenticated by the Associate / Private Secretary of this Court. Certified copy expedited. ( JUSTICE D.K. DESHMUKH )