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Judgment
The Decree Holder has sought execution of Award dated
21.03.2012. It is submitted by the learned counsel for the Decree Holder
that the respondent has also filed a petition under Section 34 of the
Arbitration & Conciliation Act, 1996 being OMP.(COMM.) 199/2016
impugning the award dated 21.03.2012.
Learned counsel for the Decree Holder submits that since the
proceedings are under the Arbitration & Conciliation Act, 1996, the
pendency of Section 34 would amount to stay of the enforcement of the
award.
Learned Counsel for the Decree Holder seeks leave to withdraw
the petition with liberty to file a fresh petition seeking enforcement of
the award in case the Section 34 petition is decided in favour of the
Decree Holder.
In view of the above, the petition is dismissed as withdrawn with
liberty to the Decree Holder, as prayed for.