-: 1 :- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO. 889 OF 2010 IN APPEAL NO. 174 OF 2010 IN ARBITRATION PETITION NO. 2 OF 2002. Bina Sahni. ..Appellant. Versus Porecha Global Securities Pvt. Ltd. ..Respondent. Dr. B. B. Saraf i/b M/s. Mahesh Menon & Co., for the appellant. Mr. Simil Purohit i/b Purohit & Co., for the respondent. Coram : F.. I. REBELLO & R. V. MORE, J. Date : June 22, 2010. P. C. : 1. The respondent herein pursuant to an arbitral award was directed to deposit a sum of Rs.4,48,647.50 with interest at the rate of 9.% p.a. with further directions set out therein. It was two tier arbitration permissible under the bye-laws of the Bombay Stock Exchange. 2. Against that award, the respondent preferred a petition under section 34 of the Arbitration & Conciliation Act, 1996. There was delay, which was not condoned by the learned Judge against which an appeal was preferred. In the appeal, on behalf of the respondent herein it was srp -: 2 :- agreed that the appellant should take away the money with an undertaking that in the event the award is set aside the money should be brought back. Delay was condoned. 3. The learned Judge after hearing the parties was pleased to hold that there are no arbitral proceedings, however, stayed the operation of the order against which the present appeal has been preferred, which has been admitted. 4. Notice of motion has been taken out for continuation of the interim relief. In our opinion, at the highest the relief that we can grant, considering the award is set aside, is that the appellant need not comply with the undertaking and bring back the money. However, subject to the following condition : In the event appeal is dismissed, appellant to bring back the money alongwith interest, which this Court may order. Respondent to file an undertaking in terms of this direction within two weeks. 5. With these observations, notice of motion is disposed of. (R.V. MORE, J.) (F. I. REBELLO, J.) -: 3 :- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO. 954 OF 2010 IN APPEAL NO. 174 OF 2010 IN ARBITRATION PETITION NO. 2 OF 2002. Bina Sahni. ..Appellant. Versus Porecha Global Securities Pvt. Ltd. ..Respondent. Dr. B. B. Saraf i/b M/s. Mahesh Menon & Co., for the appellant. Mr. Simil Purohit i/b Purohit & Co., for the respondent. Coram : F.. I. REBELLO & R. V. MORE, J. Date : June 22, 2010. P. C. : 1. On instructions, learned counsel does not press for motion. Motion is dismissed as not pressed. (R.V. MORE, J.) (F. I. REBELLO, J.) srp