9911796707
TMI Blog1997 (11) TMI 422X X X X Extracts X X X X X X X X Extracts X X X X ..... filed this application under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 ('the Act') alleging that K.C. Sodhia was appointed as sole arbitrator to adjudicate the disputes relating to purchase order No. 4/81/6(14) /81 - MMO dated 12-6-1981 regarding supply of griding media and he gave his award dated 30-6-1992 directing the respondent to pay Rs. 1,34,283 within 30 day ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n appointed as operating agency, as alleged. It is stated that the award is still to be made the rule of the Court. Only the proceedings to execute the decree, if any, are liable to be stayed under section 22. 3. In support of the contention that on identical facts further proceedings were stayed under section 22(1), Shri S.K. Taneja has invited my attention to a decision in Lloyd Insulations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in category (2). It has been urged by the learned counsel for the appellant-company that such proceedings fall in category (2) since they are proceedings against the property of the sick industrial company. The submission is that the leasehold right of the appellant-company in the premises leased out to it is property and since the eviction proceedings would result in the appellant-company being d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jections under sections 30 and 33 of the Arbitration Act filed by the respondent are yet to be decided and the stage for recovery of dues by way of execution, distress or similar process against the property of the respondent has not reached so far. That being the position, in view of the ratio in Shree Chamundi Mopeds Ltd's case ( supra ), proceedings in the cases cannot be stayed under afore ..... X X X X Extracts X X X X X X X X Extracts X X X X
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