2000 (3) TMI 1095 - SC - Indian Laws

Summary

The Supreme Court allowed the appeal, set aside the impugned orders of the High Court and trial court, directed the trial court to consider objections under Section 30 of the Arbitration and Conciliation Act, 1996, and directed the appellant to pay Rs. 5,000 as special cost to the respondent. The court also instructed the investment of Rs. 24,37,868 deposited in the court in a Nationalised Bank for a specified period. The earlier order regarding keeping a net balance of Rs. 7 lacs in a bank account was deemed no longer valid.