118 IN THE HIGH COURT OF PUNJAB AND HARYANA Anand Rathi Share Ashok Singh CORAM: HON’BLE MR. JUSTICE TRIBHUVAN DAHIYA Present: Mr. Manuj Nagrath, Advocate for the petitioner. TRIBHUVAN DAHIYA CM-12779-CII- Application is allowed and the account statement, Annexure P is taken on record, subject to all just exceptions. CR-3423-2025 The petition has been filed 21.03.2025, Annexure P Track Court, Faridabad in case titled Limited v. Ashok Singh arbitral award dated 24.12.2024 has been dismissed. 2. Learned counsel has contended that the petitioner has filed objection petition challenging the arbitral award which is pending adjudication before learned Additional an amount of ₹26,26,885 The amount has already been blocked by the concerned Stock Exchange out of the petitioner’s funds It is, however, not disputed that IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CR-3423-2025 (O&M) Date of Decision :08.07.2025 Anand Rathi Share and Stock Broker Limited Versus HON’BLE MR. JUSTICE TRIBHUVAN DAHIYA Mr. Manuj Nagrath, Advocate for the petitioner. TRIBHUVAN DAHIYA, J. (ORAL) -2025 Application is allowed and the account statement, Annexure P is taken on record, subject to all just exceptions. The petition has been filed for setting aside the order dated 21.03.2025, Annexure P-10, passed by learned Additional Track Court, Faridabad in case titled Anand Rathi Share and Stock Brokers Ashok Singh whereby the petitioner’s application for staying of the arbitral award dated 24.12.2024 has been dismissed. Learned counsel has contended that the petitioner has filed objection petition challenging the arbitral award which is pending adjudication Additional District Judge. In terms of award, he is liable to pay 26,26,885 to the respondent-judgment debtor alongwith interest. The amount has already been blocked by the concerned Stock Exchange out of the petitioner’s funds, as apparent from the account statement, Annexure P It is, however, not disputed that the said amount has not been released to the IN THE HIGH COURT OF PUNJAB AND HARYANA (O&M) Date of Decision :08.07.2025 …Petitioner ….Respondent HON’BLE MR. JUSTICE TRIBHUVAN DAHIYA Mr. Manuj Nagrath, Advocate for the petitioner. Application is allowed and the account statement, Annexure P-12 for setting aside the order dated 10, passed by learned Additional District Judge, Fast Anand Rathi Share and Stock Brokers whereby the petitioner’s application for staying of the arbitral award dated 24.12.2024 has been dismissed. Learned counsel has contended that the petitioner has filed objection petition challenging the arbitral award which is pending adjudication . In terms of award, he is liable to pay judgment debtor alongwith interest. The amount has already been blocked by the concerned Stock Exchange out of account statement, Annexure P-12. the said amount has not been released to the 12 for setting aside the order dated Judge, Fast Anand Rathi Share and Stock Brokers whereby the petitioner’s application for staying of the Learned counsel has contended that the petitioner has filed objection petition challenging the arbitral award which is pending adjudication . In terms of award, he is liable to pay judgment debtor alongwith interest. The amount has already been blocked by the concerned Stock Exchange out of . PUSHPINDER SAINI 2025.07.09 19:01 I attest to the accuracy and integrity of this document CR-3423-2025 (O&M) respondent by the Stock Exchange, nor filed by him. 3. The award has been dismissed following grounds: I have given sufficient resp strenuous effor show any document that petitioner has obtained consent of the respondent before o OPT USDINR 29MAY24 82.75P communication con is made out to stay the Arbitral Award with this observations stay application stands disposed of reply t 4. This Court does not find any in the view taken by the learned application. Besides, this Court that in the absence of execution application respondent, the account. 5. Dismissed. July 08, 2025 ps (O&M) -2- respondent by the Stock Exchange, nor has any The petitioner’s application for stay on execution of the has been dismissed, vide impugned order dated 21.03.2025 following grounds: I have given sufficient time to both the parties to address the respective arguments and have heard them strenuous efforts, Ld. Counsel for pe show any document that petitioner has obtained consent of the respondent before or at the time of closing the trade pertaining to OPTCUR USDINR 26APR24 82.50 C USDINR 29MAY24 82.75P on 27 March 2024 communication shown by the petitioner are post trade confirmation. This amount to unauthorized trade. Henc is made out to stay the Arbitral Award with this observations stay application stands disposed off. Matter stands adjourned for filing reply to the petition for 15.05.2025. This Court does not find any error of law in the view taken by the learned Judge while application. Besides, this Court has not been shown any mater the absence of execution application decretal amount which has been blocked Dismissed. Whether speaking/ reasoned Whether reportable any execution application been s application for stay on execution of the arbitral vide impugned order dated 21.03.2025, on the time to both the parties to address their ave heard them patiently but despite Counsel for petitioner/applicant has failed to show any document that petitioner has obtained consent of the r at the time of closing the trade pertaining to UR USDINR 26APR24 82.50 CE and purchasing OPTCUR on 27 March 2024. All the shown by the petitioner are post trade thorized trade. Hence no ground is made out to stay the Arbitral Award with this observations stay Matter stands adjourned for filing . error of law or material irregularity while declining the petitioner’s has not been shown any material to establish the absence of execution application having been filed by the amount which has been blocked will be credited to his (TRIBHUVAN DAHIYA) JUDGE : Yes/No : Yes/No been arbitral on the ir despite to show any document that petitioner has obtained consent of the r at the time of closing the trade pertaining to and purchasing OPTCUR All the shown by the petitioner are post trade und is made out to stay the Arbitral Award with this observations stay Matter stands adjourned for filing material irregularity declining the petitioner’s ial to establish having been filed by the be credited to his TRIBHUVAN DAHIYA) PUSHPINDER SAINI 2025.07.09 19:01 I attest to the accuracy and integrity of this document