CITI FINANCIAL CONSUMER FINANCE INDIA LTD Vs. VIJAY PAL JAKHAD & ORS
LAWS(RAJ)-2012-2-214
HIGH COURT OF RAJASTHAN
Decided on February 02,2012

CITI FINANCIAL CONSUMER FINANCE INDIA LTD Appellant
VERSUS
Vijay Pal Jakhad And Ors Respondents

JUDGEMENT

- (1.) Intra-court appeal has been preferred as against the order dated 7.9.2009 passed by the Single Bench in Civil Writ Petition No.9680/09. The writ petition was filed by the respondents against the order dated 15.7.2009 passed by the Additional District & Sessions Judge No.3, Jaipur City, Jaipur by which property which was mortgaged by the respondents was put to auction on 17.8.2009. Under interim order passed by this court, bankers cheque of Rs. 5 Lacs was paid. However, there remain demand of interest @ 24% per annum, total Rs.9,83,000/-. It was submitted by the respondents before the Single Bench that they want to avail the remedy against award provided under the Arbitration Act and prayed for interim protection. It was also prayed that appellant may be restrained from going ahead with auction till objections are filed by the petitioner under Section 34 of the Arbitration and Conciliation Act, 1996.
(2.) The Single Bench has granted 45 days time to avail the remedy. Interim order passed by this court shall remain in force during such period of 45 days and would expire on 26.10.2009. Apprehending that grant of 45 days time may amount to grant of limitation to raise objection against the award under Section 34 of the Act of 1996, the intra-court appeal has been preferred.
(3.) Shri N.K. Maloo, learned senior counsel has submitted that time to raise objection u/s. 34 could not have been granted.;


Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.