The court condoned procedural delays and ordered the release of accrued interest on deposited funds to the respondent, while the appellant undertook to maintain a bank guarantee for the principal amount pending the final disposal of the appeal.

O R D E R

CM APPL. 49879/2026 (for exemption)

1. Allowed, subject to just exceptions.

2. The application is disposed of.

CM APPL. 49875/2026

3. This is an application filed for seeking permission to file lengthy synopsis and list of dates.

4. For the reasons stated in the application, the application is allowed.

5. The application is disposed of.

CM APPL. 49877/2026

6. This is an application filed for condonation of delay of 15 days in filing the appeal.

7. For the reasons stated in the application, the delay of 15 days in filing the appeal is condoned.

8. The application is disposed of.

CM APPL. 49878/2026

9. This is an application filed for condonation of delay of 18 days in re-filing the appeal.

10. For the reasons stated in the application, the delay of 18 days in re-filing the appeal is condoned.

11. The application is disposed of.

FAO(OS) (COMM) 198/2026 & CM APPL. 49876/2026

12. Issue notice. Ms. Avlokita Rajvi, learned counsel for the respondent accepts notice.

13. Learned counsel for the parties shall file written submissions along with the judgments they intend to rely upon.

14. The learned senior counsel for the parties submits that the respondent herein had deposited principal awarded amount of Rs. 3,40,00,000/- in the Registry of this Court. The said amount was released to the appellant herein subject to the appellant furnishing a bank guarantee.

15. It is the submission of Mr. Jayant Mehta, Senior Advocate that as the learned Single Judge had set aside the arbitral award, the appellant is liable to refund the amount of Rs. 3,40,00,000/- to the respondent herein.

16. On this Mr. Rajeeve Mehra, learned senior counsel for the appellant states that as the amount of Rs. 3,40,00,000/-, which has been released to the appellant herein has been secured vide a bank guarantee, the appellant undertakes to this Court that it shall continue to keep the bank guarantee alive in favour of the Registrar General during the pendency of the appeal.

17. He also submits, on instructions, that in the eventuality the appellant does not succeed in the present appeal, the amount of Rs. 3,40,00,000/- shall be refunded to the respondent with interest @ 9% p.a., from the date of its receipt in the Section 34 proceedings, as was fixed by the learned Arbitrator.

The submission is taken on record.

18. At this stage, Mr. Jayant Mehta, Senior Advocate submits that initially the sum of Rs. 3,40,00,000/- was deposited by the respondent with the Registry of the Court in O.M.P. (COMM) 416/2023. He states that the interest accrued on Rs. 3,40,00,000/- while it was deposited in the Registry, is still lying with the Registry. He states that the same be released to the respondent herein.

Mr. Mehra, Senior Advocate on behalf of the appellant has no objection in that regard.

19. If that be so, the interest accrued on the principal amount of Rs. 3,40,00,000/-, which was deposited by the respondent in O.M.P. (COMM) 416/2023 and released to the appellant herein shall be released to the respondent through its representatives in the presence of its counsel within three weeks.

20. In view of this order directing release of interest, the proceedings as pending before the learned Single Judge in I.A. 11692/2026 in O.M.P. (COMM) 416/2026 have become infructuous.

21. Also, in view of the directions passed today, the stay application being CM APPL. 49876/2026 also stands disposed of.

22. Re-notify the appeal for hearing on 07.10.2026.