GIRISH GODBOLE, J.

1. The fight over ownership of the shares of an airline, whose aircrafts ply at high altitude at sub zero temperatures, has generated a lot of heat and litigation which has led to the filing of these appeals. Both the Appeals are filed for challenging the Judgment and Order dated 4th May, 2011 passed by the Learned Single Judge (Dr. D.Y. Chandrachud, J) in Execution Application No. 161 of 2009 with Chamber Summons Nos. 551/09, 729/09, 603/10 & 477/11 and Notice No. 734 of 2009 in Arbitration Award dated 12 April 2007. The Appellants in Appeal No. 345 of 2011 (Jet Airways (India) Limited) was the first Claimant, whereas the Appellants in the cross-Appeal No. 456 of 2011 (Mr. Subrata Roy Sahara & ors.) were the second Claimants in the proceedings of Arbitration to which a reference would be made in due course.

2. Initially, the second Claimants being the Appellants in Appeal No. 456 of 2011 (Appeal (Lodg.) No. 293 of 2011) had alone filed their Appeal and on 6th May, 2011, we had passed an interim order which reads thus:

“Stand over to 14th June, 2011.

1. Mr.Janak Dwarkadas, learned senior counsel for the respondent no.1 states that the respondent no.1