Bombay High Court
Isc Projects Bna Infra(Jv) vs Union Of India Through Chief Engineer ... on 15 June, 2022
Author: B. P. Colabawalla
Bench: B. P. Colabawalla
p1.carbpl.17627.22..doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMMERCIAL ARBITRATION PETITION(L) NO. 17627 OF 2022
ISC Projects BNA Infra (JV) ..Petitioner
ANJALI Digitally signed
Vs.
Union of India
by ANJALI
TUSHAR TUSHAR ASWALE
Date: 2022.06.16
ASWALE 14:20:23 +0530
through Chief Engineer C Central
Railway ..Respondent
Mr.Mutahhar Khan a/w Chirag Sancheti i/b Bulwark Solicitors, for
the Petitioner.
Mr.Amit Karkhanis, for the Respondent.
CORAM:- B. P. COLABAWALLA,J.
DATE :- JUNE 15, 2022.
P. C.:
Not on Board. The above matter is mentioned as the Regular Bench is not available for judicial work today.
2 The above Petition is filed seeking to challenge the order passed by the Arbitral Tribunal under Section 17 of the Arbitration and Conciliation Act, 1996 (for short the "Arbitration Act"). By the impugned order, the Arbitral Tribunal has directed the Petitioner to submit an additional bank guarantee of Rs.4,58,38,000/- by 15 th June, 2022 in favour of the Respondent and further directed that in the event Aswale page 1 of 2 p1.carbpl.17627.22..doc the Petitioner fails to submit the additional bank guarantee, the Respondent is allowed to enforce the Recovery Notice dated 2 nd January, 2021. The apprehension of the Petitioner is that if the Recovery Notice is allowed to be enforced, the Respondent shall forfeit the security deposit that has been placed by the Petitioner with the Respondent.
3 Considering that this matter could not be taken up by the Regular Bench, it is directed that uptill, and including 22 nd June, 2022, the effect, operation and implementation of the impugned order passed by the Arbitral Tribunal dated 24th May, 2022 (under Section 17 of the Arbitration Act) shall be stayed.
4 It is made clear that this stay is granted only for the purpose of ensuring that this matter can be moved at the earliest before the Regular Bench. I have not examined the merits of the matter. 5 This order will be digitally signed by the Private Secretary/Personal Assistant of this Court. All concerned will act on production by fax or email of a digitally signed copy of this order.
( B. P. COLABAWALLA, J. )
Aswale page 2 of 2