Calcutta High Court
Hoogly River Bridges Commissioners vs Mbl Infrastructure Ltd on 16 September, 2021
Author: Moushumi Bhattacharya
Bench: Moushumi Bhattacharya
ODC-5
AP/340/2020
IA No. GA/1/2020
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
HOOGLY RIVER BRIDGES COMMISSIONERS
Versus
MBL INFRASTRUCTURE LTD.
BEFORE:
The Hon'ble JUSTICE MOUSHUMI BHATTACHARYA
Date : 16th September, 2021.
[Via Video Conference]
Appearance:
Mr. Kishore Datta, Sr. Adv.
Mr. Sarvapriya Mukherjee, Adv.
Mr. Chayan Gupta, Adv.
Mr. Sandip Dasgupta, Adv.
Mr. Saaqib Siddiqui, Adv.
...for the petitioner
Mr. Ratnanko Banerji, Sr. Adv.
Mr. Shounak Mitra, Adv.
Ms. Pritha Basu, Adv.
Ms. Aryaa Chatterjee, Adv.
Ms. Sohini Mukherjee, Adv.
...for respondent
The Court: This is an application for stay of an Award dated 29th June, 2020 passed by an Arbitral Tribunal consisting of three Arbitrators. The Award is a unanimous Award.
From the submissions of learned counsel appearing for the parties, it appears that the respondent/award-holder was the claimant in the arbitration with a claim of approximately Rs.36 crores of which Rs.14.68 crores was awarded to the respondent by way of a principal sum which translates to approximately Rs.25.02 crores as on date along with interest.
2
Upon considering the submissions made on behalf of the award-debtor, which is a government undertaking and involved in various other projects, albeit the respondent not being a part thereof, this Court is of the view that the petitioner/award-debtor should be directed to put in security as mandated under Section 36(2) and (3) of The Arbitration and Conciliation Act, 1996, for an amount of Rs.10 crores, half of which shall be in cash and the other half by way of a bank guarantee with the Registrar, Original Side of this Court within a period of three weeks from date. Upon the petitioner putting in the sum of money, there shall be unconditional stay of the Award dated 29th June, 2020.
GA/1/2020 is allowed and disposed of in terms of the above.
(MOUSHUMI BHATTACHARYA, J.) bp./R.Bhar