Back
MOUSHUMI BHATTACHARYA
Srei Equipment Finance Limited – Appellant
Versus
Marg Limited – Respondent
JUDGMENT :
1. This is an application made on behalf of an award-debtor for dismissal of the execution application filed by the award-holder under Section 36 of The Arbitration and Conciliation Act, 1996 (the Act). The Award, which forms the subject-matter of the execution application, is dated 31st August, 2020. By the said Award, the award-debtor was directed to pay a substantial sum of money to the award-holder.
2. The point as argued by learned counsel appearing for the parties on the maintainability of the application is being addressed in this order since that would have a bearing on the execution proceedings as well. The argument on the maintainability, urged on behalf of the applicant/judgment-debtor consists of two points: first that the time to execute the Award has not commenced and second, that this Court does not have jurisdiction to entertain the execution proceedings since the award-debtor is based in Chennai and the assets are located outside the jurisdiction of this Court. The second point is not being gone into since the first point with regard to the time from which the execution could have commenced is sufficient in deciding the maintainability of the execution pro
Point of Law : Since the award was a money decree there should be 100% deposit with respondent being entitled to withdraw amount deposited and furnish solvent security to the satisfaction of High Cou....
The court emphasized the peremptory language of section 34 of the Arbitration and Conciliation Act, 1996, and the requirement for sufficient cause to condone any delay in filing the application.
The limitation period under Section 34(3) of the Arbitration and Conciliation Act, 1996 starts to run from the date on which a party to the arbitration agreement receives a signed copy of the arbitra....
The limitation period for setting aside an arbitral award under the Arbitration and Conciliation Act begins from the disposal date of a correction application and not from the award's date, affirming....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
