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Posco Engineering And Construction ... vs Sinew Developers Pvt. Ltd. on 4 February, 2020

Bench: R. Banumathi, A.S. Bopanna

                                                      1

     ITEM NO.18                               COURT NO.5                 SECTION IX

                                   S U P R E M E C O U R T O F       I N D I A
                                           RECORD OF PROCEEDINGS

              Petition(s) for Special Leave to Appeal (C)             No(s).     25412/2019

     (Arising out of impugned final judgment and order dated 21-06-2019
     in NOM No. 368/2019 in C.A.P.NO.238 of 2019 passed by the High
     Court Of Judicature At Bombay)

     POSCO ENGINEERING AND CONSTRUCTION INDIA PVT. LTD. Petitioner(s)

                                                     VERSUS

     SINEW DEVELOPERS PVT. LTD.                                           Respondent(s)

     (FOR ADMISSION and Interim Relief)

     Date : 04-02-2020 This petition was called on for hearing today.

     CORAM :
                             HON'BLE MRS. JUSTICE R. BANUMATHI
                             HON'BLE MR. JUSTICE A.S. BOPANNA

     For Petitioner(s)                 Mr.   Tejas Karia,Adv.
                                       Ms.   Ila Kapoor,Adv.
                                       Ms.   Shruti Sabharwal,Adv.
                                       Ms.   Mitali Daryani,Adv.
                                       Mr.   S. S. Shroff, AOR

     For Respondent(s)                 Mr.   Neeraj Kishan Kaul,Sr.Adv.
                                       Mr.   Gopal Shankaranarayana,Sr.Adv.
                                       Mr.   Akash Lamba,Adv.
                                       Mr.   Samar Kachwaha,Adv.
                                       Mr.   Toshiv Goyal,Adv.
                                       Ms.   Priyakshi Bhatnagar,Adv.
                                       Ms.   Apoorva Kaushik,Adv.
                                       Mr.   Pranaya Goyal, AOR

                         UPON hearing the counsel the Court made the following
                                             O R D E R

Being aggrieved by the stay of the Award dated 13.06.2018 without imposing any condition, the petitioner has preferred this Signature Not Verified special leave petition.

MAHABIR SINGH Date: 2020.02.07 17:03:27 IST Reason:

We have heard Mr. Tejas Karia, learned counsel appearing for the petitioner. We have also heard Mr. Neeraj Kishan Kaul, learned  2 senior counsel along with Mr. Gopal Shankaranarayana, learned senior counsel, appearing for the respondent. Learned senior counsel appearing for the respondent inter alia raised contentions raising the plea of perjury, suppression and other contentions.

Since Section 34 application is pending before the High Court, we are not inclined to go into the merits of the contentions. Considering the Award and facts and circumstances of the case, the respondent is directed to deposit Rs.5,00,00,000/- (Rupees Five Crores) before the High Court within a period of eight weeks from today failing which the interim stay granted by the High Court shall stand vacated.

On such deposit, the petitioner is permitted to withdraw Rs.5,00,00,000/- (Rupees Five Crores) on furnishing an affidavit of undertaking by the petitioner/authorised representative of the petitioner company.

The special leave petition is accordingly disposed of. Pending applications, if any, shall also stand disposed of.

(MAHABIR SINGH)                                            (PRADEEP KUMAR)
  AR-cum-PS                                                 BRANCH OFFICER