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Issues: Whether the order rejecting the plea of maintainability of the petition under Section 9 of the Arbitration and Conciliation Act, 1996 should be stayed pending decision of the issue arising before the Supreme Court from the NCLAT order.
Analysis: The appeal was admitted. The Court noted that the special leave petition challenging the NCLAT order was pending before the Supreme Court and that no stay had been granted against that order. In view of the pending challenge, the Court stayed the impugned order rejecting maintainability and permitted the parties to seek early hearing after the Supreme Court decides the issue arising from the NCLAT order.
Conclusion: The stay on the impugned order was granted in favour of the appellant, and the interlocutory application was disposed of.
Ratio Decidendi: Where the maintainability issue depends upon an order under challenge before the Supreme Court and no stay operates against that order, the impugned finding may be kept in abeyance pending the Supreme Court's decision.