ORDER :

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CM No.24438/2021(for exemption)

1. Allowed, subject to just exceptions and as per extant Rules.

2. The application is disposed of.

FAO (COMM) 52/2021

3. The appellant is aggrieved from dismissal of its application, being OMP (I) (COMM) No.129/2020, under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as “the Arbitration Act”) vide order dated 27th June, 2020 of the District Judge (Commercial)-01, South-East, Saket Courts, New Delhi.

4. The appellant filed the application aforesaid under Section 9 of the Arbitration Act, pleading (i) that the respondent no.2 Punjab National Bank had entered into a contract with the respondent no.1 Vector Projects (India) Private Limited for renovation of premises of the respondent no.2 Bank; (ii) that the respondent no.1 had appointed the appellant as a sub-contractor for the said works; and, (iii) that an amount of Rs.1,20,45,603/-was due from the respondent no.1 to the appellant, which the respondent no.1 was not paying inspite of the respondent no.2 bank having released payments under the contract aforesaid to the respondent no.1. Interim measure, of freezing of the amount of Rs.1,20,45,