Calcutta High Court
Animesh Poddar And Anr vs Idfc First Bank Ltd on 15 March, 2022
Author: Ravi Krishan Kapur
Bench: Ravi Krishan Kapur
OD-13
AP/512/2021
IA NO: GA/1/2021
IN THE HIGH COURT AT CALCUTTA
Ordinary Original Civil Jurisdiction
ORIGINAL SIDE
(Via Video Conference)
ANIMESH PODDAR AND ANR.
VS
IDFC FIRST BANK LTD.
BEFORE:
The Hon'ble JUSTICE RAVI KRISHAN KAPUR
Date : 15th March, 2022.
Appearance:-
Mr. Rachit Lakhmani, Adv.
Ms. Dona Ghosh, Adv.
Mr. Sandipan Das, Adv.
Ms. Reshmi Ghosh, Adv.
Ms. Tutul Das Singh, Adv.
Ms. Pooja Sett, Adv.
Mr. R. Singh, Adv.
The Court: AP/512/2021
This is an application under Section 34 of the Arbitration and
Conciliation Act, 1996. The respondent is represented and prays for directions to
file an affidavit.
Let Affidavit-in-Opposition be filed within a period of two weeks from date. Reply thereto, if any, be filed one week thereafter.
The Arbitrator is requested to produce all the arbitral records pertaining to the subject arbitration proceeding before this Court on the returnable date.
GA/1/2021 This is an application for stay of operation of the award dated 25 November 2019. By the said award, the petitioners have been directed to pay a sum of 2 Rs.17,73,052.86 to the respondent bank. It has further been directed by the Arbitrator that the award-holders will also be entitled to have immediate possession of a property situated at premises no.137, R.N.Chakraborty Road, P.O. Kodalia, P.S. Kodalia, Ward No. 19, Kolkata-700146. There are no reasons for such a drastic order in the award.
At this prima facie stage, the award is such that it shocks the conscience of the Court. The award, at this stage, cannot be sustained either in law or on facts.
It is submitted on behalf of the petitioners that out of a total principal sum of Rs.20 lakhs (approximately), the petitioners have already paid an aggregate amount of Rs.18,52,960/-. This submission is not disputed by the respondent bank.
An affidavit filed on behalf of the respondent bank be kept with the records. The petitioners are directed to file a reply to the said affidavit within seven days.
In view of the aforesaid, there shall be an unconditional stay of the award dated 25 November 2019. In the meantime, the parties are directed to file their Affidavits.
Let Affidavit-in-Opposition be filed within seven days from date. Reply thereto, if any, be filed three days thereafter.
Let this matter appear on 5 April 2022.
The presence of an Officer of the respondent bank is noted and dispensed with.
(RAVI KRISHAN KAPUR, J.) D.Ghosh