ORDER :

1. The instant revision has been filed challenging the order dated 18.02.2013 dismissing I.A. No. 1477 of 2012 in Arbitration OP No. 141 of 2010 on the file of the first Additional District Judge, Salem. Brief facts leading to the filing of the revision:

2. The petitioner filed an application under section 9 of the Arbitration and Conciliation Act, 1996 in Arbitration OP No. 141 of 2010 before the District Court at Salem, seeking for an interim injunction restraining the respondent from in any way executing the Arbitration Award if any passed against the petitioner as well as for grant of interim injunction restraining the respondent in any way registering the Arbitration Award in the Sub-Registrar's Office, Rasipuram and to make entry in the Encumbrance Register.

3. It is the case of the petitioner that the respondent was a lessee under them under a registered lease deed dated 25.03.2005 registered as Document No. 891 of 2006, SRO Rasipuram. According to them, the petitioner committed default with Indian Bank in the re-payment of the loan and SARFAESI proceedings were initiated by Indian Bank against the petitioner. The respondent was also ousted from the property by Indian Bank through the SARFAESI proceedings. Thereafter, the petitioner settled the dues of Indian Bank and as on date, they are in possession of the property. On 05.10.2005, the respondent filed a suit on the file of the Sub-ordinate Judge of Namakkal and prayed for restoration of possession and the same was transferred to Sub-ordinate Judge of Rasipuram due to change in pecuniary jurisdiction and re-numbered as O.S. No. 144 of 2008 and the said suit was dismissed for default on 06.07.2009 since the matter was settled amicably between the petitioner and the respondent. Since the loan dispute between the petitioner and the Indian Bank was pending before the DRT, Coimbatore, the petitioner requested the respondent to make cancellation of lease. After taking possession of the property, the petitioner has also sold the property to a 3rd party by named Mohan and Selvamurthy under a registered sale deed dated 20.04.2009 registered as document No. 1769 of 2009 at SRO, Rasipuram and handed over physical possession of the land and the unit to the purchasers. The petitioner and the purchasers requested the respondent to cancel the lease deed. But instead of cancelling the lease deed, the petitioner received a notice from a so called Arbitrator calling upon the petitioner to come for arbitration in respect of a claim made by the respondent against the petitioner. The petitioner expressed their unwillingness to go for arbitration since the matter has already been settled between the petitioner and the respondent. Thereafter, the so called Arbitral Tribunal at Coimbatore passed an Award directing the petitioner to pay the respondent a sum of Rs. 47,00,000/- towards the lease amount along with interest and for mental agony and for compensation. According to the petitioner, it is a fraudulent Award passed against the petitioner. It is also the case of the petitioner that the original Arbitration Award was not served on them by the Arbitrator. The respondent in his counter in Arbitration OP No. 141 of 2010, has stated that an ex-parte award dated 26.07.2010 has been passed against the petitioner by the Arbitrator for a sum of Rs. 46,88,000/- which has been registered before the Sub-Registrar's Office, Rasipuram.

4. In view of the aforesaid statement made by the respondent in his counter, the petitioner filed an application under Order 23, Rule 1 CPC seeking to withdraw the Arbitration OP No. 141 of 2010 with liberty to file an application under section 34 of the Arbitration and Conciliation Act to challenge the Award dated 26.07.2010 passed against the petitioner in favour of the respondent by the Arbitrator.

5. The trial Court, by its order dated 18.02.2013 in I.A. No. 1477 of 2012 in Arbitration O.P. No. 141 of 2010, dismissed the application filed by the petitioner under