Calcutta High Court
(Wbsidc) vs Kaushalya Infrastructure Development ... on 6 December, 2021
Author: Ravi Krishan Kapur
Bench: Ravi Krishan Kapur
OD-8
IA NO. GA/1/2021
In AP/128/2019
IN THE HIGH COURT AT CALCUTTA
ORDINARY ORIGINAL CIVIL JURISDICTION
ORIGINAL SIDE
THE WEST BENGAL SMALL INDUSTRIES DEVELOPMENT CORPORATION LTD.
(WBSIDC)
Vs
KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LTD.(KIDCO)
BEFORE:
The Hon'ble JUSTICE RAVI KRISHAN KAPUR
Date : 6th December, 2021.
Appearance:
Mr. Hirak Kumar Mitra, Sr. Adv.
Mr. Kamal Kr. Chattapadhyay, Adv.
Mr. T. Ali, Adv.
Ms. S. Ghosh, Adv.
Mr. Rudraman Bhattacharyya, Adv.
Mr. Arkaprava Sen, Adv.
Mr. S. Chakraborty, Adv.
The Court: This is an application under Section 36(3) of the Arbitration and
Conciliation Act, 1996. It is submitted on behalf of the petitioner that in terms of
the award dated October 6, 2018, the petitioner has been directed to pay the
principal amount of approximately Rs. 34 lakhs to the respondent.
In view of the submission made on behalf of the parties, I grant a stay of operation of the award dated October 6, 2018 upon the petitioner furnishing a bank guarantee for an amount of Rs. 34 lakhs to the satisfaction of the Registrar, High Court, Calcutta. The petitioner is also directed to ensure that the bank 2 guarantee is kept alive till the disposal of the application under Section 34 of the Act.
With the aforesaid directions, GA 1 of 2021 stands disposed of. However, there shall be no order as to costs. Let AP 128 of 2019 appear on December 20, 2021.
(RAVI KRISHAN KAPUR, J.) SK