Navayuga Engineering Company vs Bangalore Metro Rail Corporation Limited

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2021 Supreme(SC) 877

ROHINTON FALI NARIMAN, B.R.GAVAI
Navayuga Engineering Company – Appellant
Versus
Bangalore Metro Rail Corporation Limited – Respondent

Advocates appeared:
Mr. K.V. Viswanathan, Sr. Advocate, Mr. Saurav Agrawal, Advocate, Mr. Sahil Tagotra, Advocate, Mr. Anshuman Chowdhury, Advocate, Mr. Sai Abhishek, Advocate, Mr. Dev Priya Singh, Advocate, for the Appellant; Mr. Tushar Mehta, SG, Mr. Raghavendra S. Srivatsa, Advocate, Mr. S. Sriranga, Advocate, Ms. Komal Mundhra, Advocate, Mr. Likhi Chand Bonsle, Advocate, for the Respondent.

ORDER

1. Leave granted.

2. We have heard Mr. K.V. Viswanathan, learned Senior Advocate appearing for the appellant as well as Mr. Tushar Mehta, learned Solicitor General appearing for the respondent.

3. An Arbitral Award dated 16.08.2018 was made in favour of the appellant allowing 10 out of 16 claims which amounted to Rs. 175.32 Crores. The Award was made of a sum of Rs. 122.76 Crores amounting to Rs. 56.23 Crores principal and Rs. 66.53 Crores on various heads. A Section 34 petition that has been filed by the respondent is pending before the learned Additional City Civil and Sessions Judge at Bengaluru. On 21.12.2019, execution of the said Award was stayed on deposit of 60% of the figure of Rs. 122.76 Crores and security being given for the balance. Both parties filed writ petitions against the aforesaid order. The writ petition filed by the appellant was dismissed. The writ petition filed by the respondent was allowed in which a deposit of 50% of the principal amount of Rs. 56.23 Crores was ordered.

4. Despite this Court repeatedly referring to Section 5 of the Arbitration Act in particular and the Arbitration Act in general and despite this Court having laid down in Deep Indust

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