- (1.) Record reveals that an award was passed under the Punjab Co-operative Societies Act, 1961 (hereinafter referred to as the Act) against the petitioners for recovery of Rs. 6,91,448/- on 18.09.2009. Petitioners have filed an appeal under Section 68 of the Act, which was dismissed on 14.06.2011. Thereafter, petitioners have filed a revision before respondent No.2 challenging the award dated 18.09.2009, as well as, dismissal of the appeal vide order dated 14.06.2011. Interim stay application staying the operation and effect of the award was dismissed by respondent No.2 on 12.08.2011, however, revision was directed to be heard on 26.09.2011.
(2.) Learned counsel for the petitioners submits that during the pendency of the revision, learned Revisional Authority should have stayed the recovery pursuant to the award, otherwise, revision will become infructuous.
(3.) In the opinion of this Court, if revision is admitted challenging the award and appellate order, ordinarily stay should be granted subject to deposit of part of award amount or on furnishing security to the satisfaction of the Revisional Authority. In the present case, without calling any security or without granting any opportunity to the revisionists to deposit the award amount, stay application was rejected which is not correct in the opinion of this Court. Therefore, present petition is allowed at the admission stage itself with direction to the petitioners to deposit Rs. 3 lacs in cash before the Revisional Authority within three weeks from today, subject to the final decision in the revision. If Rs. 3 lacs are deposited with the Revisional Authority within three weeks from today, recovery of the award amount shall remain stay. Revisional Authority is further directed to decide the revision on the next date fixed i.e. 26.09.2011 or in any case within 60 days thereafter positively, at its own merit, in accordance with law.;