Changing the directory to the directory of the script, and passing arguments. (In this case to the Lua interpreter)
It is possible to echo the full command before execution, and to pause when the command exits.

@echo off
pushd "%~dp0"
set MWD=%CD%
set RUNCMD="%MWD%\bin\lua51.exe" "%MWD%\lua\index.lua" "%*"
REM echo %RUNCMD%
cmd /c "%RUNCMD%"
popd
timeout /T 5
REM pause