Calcutta High Court (Appellete Side)
Asansol Durgapur Development ... vs Bla Projects Private Limited on 16 April, 2024
16-04-2024
Item no.5 CD
IN THE HIGH COURT AT CALCUTTA
Subrata Civil Appellate Jurisdiction
Bhattacharyya (Commercial Division)
AR(C)
CAN No.1 of 2024
and
CAN No.2 of 2024
in
FMAT(ARBAWARD) No.18 of 2024
Asansol Durgapur Development Authority
-vs-
BLA Projects Private Limited
Mr. Anirban Ray
Mr. Sayantan Bose
Mr. Shaunak Mukhopadhyay
Ms. Manisha Das ...for the appellant
Mr. Suman Kumar Dutt
Mr. Debdeep Sinha ...for the respondent
This is an appeal under section 37 of the Arbitration and Conciliation Act, 1996 from a judgement and order of the learned court below dismissing an application under section 34 of the said Act.
We formally admit the appeal.
As the respondent is represented, issuance and service of the notice of appeal is dispensed with.
Transmission of lower court records is also dispensed with for the time being. We shall call for it later, if required.
The advocate-on-record for the appellant shall prepare and file an informal paper book in this court by 10th May 2024, serving one copy thereof on the learned advocate-on-record for the respondent at least seven days before the date of hearing of the appeal.
2List the appeal for hearing on 21st May 2024.
When the section 34 application was pending in the learned court below, the appellant deposited a sum of Rs.11,83,83,262/- as security. This could be treated as security in this appeal as well.
However, Mr Dutt, learned advocate representing the respondent, points out that since the date of deposit made by a Manager's Cheque of the same amount dated 15th December 2020, there is interest accrual on the award.
Taking all these facts into account, we direct the appellant to furnish an automatically renewable bank guarantee for Rs.2 crore of a nationalised bank in favour of the Registrar General of this court by 3rd May 2024 which shall be treated as further security in the section 37 appeal.
The Registrar General shall intimate the respondent of the furnishing of the bank guarantee.
We stay the operation of the award including its execution till disposal of the appeal or until further order, whichever is earlier.
In case of default on the part of the appellant in furnishing the additional security, the respondent is granted liberty to apply for appropriate orders.
The stay/injunction application - CAN No.1 of 2024 - is accordingly disposed of.
As affidavits have not been invited, the allegations contained in the application are deemed not to have been admitted by the respondent.
3 CAN No.2 of 2024It is dismissed with liberty to apply with the same prayer, later.
[I.P. Mukerji, J] [Biswaroop Chowdhury, J]