( 1 ) RULE. Learned Advocate Mr. Thakar for M/s. Trivedi and Gupta, advocates waives service of notice of Rule. Upon request of the party-in-person and advocate for respondent, the matter is taken for its final hearing. The present writ petition is filed under Article 226 and 227 of the Constitution of India for setting aside the order dated 13th June,2005 passed by respondent no. 1, who was Presiding Arbitrator in dispute between the present petitioner and the respondent no. 2.

( 2 ) THE question of law involved in present petition is that whether the award passed by the Arbitrator is enforceable during the pendency of an application under section 34 of the Arbitration and Conciliation Act,1996 (hereinafter referred to as Act) filed by respondent no. 2 before the district Court, Valsad. The main thrust of the argument of the party-in-person or petitioner is that the amount awarded in the arbitration award, is at Rs. 3,78,30,197/-, out of which, amount at Rs. 1,20,70,955/- is required to be paid by the Presiding Arbitrator from the Escrow amount to the present petitioner. It is submitted by party-in-person that though application under section 34 of the Act is pending, the amount a

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