IN THE PUNJAB AND HARYANA HIGH COURT AT CHANDIGARH FAO No.5581 of 2010 (O&M) Date of Decision: 16.12.2010 M/s Spirit Global Construction Limited ...Appellant Versus The Pepsu Road Transport Corporation and others .....Respondents CORAM: Hon'ble Mr. Justice Rajesh Bindal Present: Mr. Ashwani Talwar, Advocate for the appellant. Ms. Sonal Dutta, Advocate for respondents No.1 and 2. ..... RAJESH BINDAL, J. The challenge in the present appeal is to the order passed by the learned court below dated August 30, 2010 whereby the application filed by the appellant under Section 9 of the Arbitration and Conciliation Act, 1996 seeking interim stay, was dismissed. At the time of issuance of notice of motion this court restrained the respondents from encashing the bank guarantee. Today, learned counsel for respondents No.1 and 2 submitted that she has been instructed to state before the court that interim order passed by this Court on September 24, 2010 be made absolute as the corporation is not seeking encashment of the bank guarantee till the disposal of the arbitration proceedings pending before Punjab Infrastructure Regulatory Authority. It has been undertaken by the appellant that the bank guarantee furnished shall remain alive till the decision by the aforesaid authority. In view of the above stand of the counsels for the parties, the present appeal is disposed of. (RAJESH BINDAL) JUDGE 16.12.2010 sharmila