Micro, Small and Medium Enterprises Development Act, 2006
Section 19—Order of Commercial Court permitting withdrawal of the amount by first respondent—Revision—In the proceeding under Section 34 of the Arbitration and Conciliation Act, the petitioner deposited the amount which was kept in the fixed deposit—Court is empowered to permit release of such percentage of amount deposited to the supplier—Court while dealing with a prayer to release the amount has to assign reasons for releasing such percentage of the amount—Petition under Section 36 of the A&C Act seeking stay of award was also pending—Propriety demands that the Commercial Court ought to have dealt with both the applications together—Commercial Court has not assigned any reason for releasing the whole amount by the petitioner in favour of first respondent—Impugned order set aside—Commercial Court directed to decide such application along with petition under Section 36 of the A & C Act after hearing the parties. [Arbitration and Conciliation Act, 1996, Sections 34 & 36]
[Paras 9 to 12]