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ABHIJIT GANGOPADHYAY, ANIRUDDHA ROY
Union of India – Appellant
Versus
Srishaila Constructions Pvt. Ltd. – Respondent
JUDGMENT :
This is an appeal under section 37 of the Arbitration and Conciliation Act, 1996 ( for short the ‘Arbitration Act’). The appellant had suffered an Award. The appellant filed an application under section 34 of the Arbitration Act seeking setting aside of that award before the jurisdictional Civil Court, being Other Appeal No. 03 of 2022.
2. By the impugned judgment and order dated November 30, 2022, the said setting aside application was dismissed and the jurisdictional Civil Court had observed that, in terms of the majority award, the appellant was to pay a sum of Rs.7,86,88,850/-(Rupees seven crores eighty six lakhs eighty eight thousand eight hundred fifty only) along with interest.
3. Today, Ms.Shipra Mandal, learned counsel appearing for the respondent, being the Award Holder, submitted that the respondent had already put the said award into execution before the same jurisdictional Civil Court and the execution proceeding is pending.
4. Mr. V.D.Sivabalan, learned counsel appearing for the appellant submitted that, unless the operation of the impugned order and consequently the award is stayed, the appellant will be seriously prejudiced, as the execution proceeding is
The Court has the power under section 36 sub-sections 1 and 3 of the Arbitration Act to direct the appellant to secure a sum with the court and grant a stay of the execution proceeding to prevent pot....
The execution of an arbitral award must adhere to established legal procedures, and any order lacking jurisdiction is considered void.
The execution of an arbitral award must comply with statutory procedures; failure to do so renders the order void.
Arbitration Award – Execution - By virtue of the provisions of Section 36, since it is a money decree and the Code of Civil Procedure in Order XLI Rule 1(3) mandates imposition of the terms and condi....
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....
Scope to stay execution proceeding by Executing Court is limited – It is only an interim arrangement enabling the party to obtain stay order from appropriate Court, including Appellate Court.
The court upheld that a stay of an arbitral award requires a reasonable security deposit, and statutory bars apply to revision applications against interlocutory orders in commercial matters.
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