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Judgment
We have heard the learned senior counsel/ learned counsel for the parties. All respondents are allowed three weeks time to file a reply. Three
weeks thereafter to the appellant to file rejoinder. List on July 16, 2021.
In the meanwhile, the effect and operation of the impugned order shall remain stayed. We direct the appellant to give an undertaking to the
respondent no. 1 that they will not utilize the margin money to the extent of Rs. 5 crore during the pendency of the appeal. Such undertaking shall be
given within 4 days from today.
Parties are directed to take instructions from the Registrar 48 hrs. before the date fixed in order to find out as to whether the matter would be taken
up for hearing through video conference or through physical hearing.
The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor a
certified copy of this order could be issued by the Registry. In these circumstances, this order will be digitally signed by the Private Secretary on
behalf of the bench and all concerned parties are directed to act on the digitally signed copy of this order. Parties will act on production of a digitally
signed copy sent by fax and/or email.