CMC LTD. vs M.P.STOCK EXCHANGE

The Supreme Court held that the application for setting aside the dismissal under Order IX, Rules 4 and 9 read with Section 151 of the Code of Civil Procedure is maintainable. The Court emphasized the need for expeditious disposal of proceedings under Section 34 of the Arbitration and Conciliation Act, as established in Fiza Developers & Inter-Trade (P) Ltd. v. AMCI (I) Pvt. Ltd. The Court set aside the dismissal order and restored the application under Section 34 for early resolution, directing the lower court to dispose of it within four months.