ORDER :

(Sunita Agarwal, J.)

1. The instant petition is directed against the judgment and order dated 18.04.2024 passed by the Commercial Court at Vadodara in Commercial Civil Misc. Application No. 70 of 2023, whereby the petitioners herein has sought for Stay of the execution of arbitral award passed by the Sole-Arbitrator for, an amount of Rs.2,93,89,575/- along with the interest at the rate of 10 % from 03.07.2006 till realization, with the cost of arbitration at Rs.6,45,000/-.

2. At the outset, it may be noted that challenging the arbitral award dated 29.09.2023, the petitioner had moved an application under Section 34 of the Arbitration and Conciliation Act, 1996 (for short as the Act 1996 hereinafter), wherein, application for Stay of the execution of the award was filed under Section 36 (3), with the prayer that the execution of the award be stayed against furnishing bank guarantee of equivalent amount awarded to the respondent along with interest calculated till the date of deposit.

3. The Commercial Court, while dismissing the said application, has recorded that no arguments had been advanced on merits or demerits of the award. Only this much was argued before us that it was w