IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Pronounced on: 01.07.2025 Apollo Green Energy Limited …Petitioner Versus Man Structurals Private Limited …Respondent CORAM: HON'BLE MR. JUSTICE TRIBHUVAN DAHIYA Present: Mr. Gaurav Chopra, Senior Advocate, with Mr. Vivek Sethi, Advocate, Mr. Rohit Jerry, Advocate, and Mr. Vardaan Seth, Advocate, for the petitioner.

Mr. Pancham Surana, Advocate, and Mr. Himanshu Setia, Advocate, for the respondent.

TRIBHUVAN DAHIYA, J.

This petition under Article 227 of the Constitution of India has been filed for setting aside order dated 02.05.2025, Annexure P-16, passed by Additional District Judge-cum-Presiding Judge, Exclusive Commercial Court at Gurugram, in CIS No.ARB-02-2024, whereby he has ordered release of the decretal amount ₹19,33,71,085 to the respondent on furnishing Bank guarantee of the equivalent amount, during pendency of the petition under Section 34 of the Arbitration and Conciliation Act, 1996 (for short, ‘the 1996 Act’) against the award dated 10.10.2023, Annexure P-7.

2. Facts relevant to decide the matter are, disputes between the parties were referred to arbitration, which led to passing of the award dated 10.10.2023, direct