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C. HARI SHANKAR
Edelweiss Asset Reconstruction Company Limited, Acting In Its Capacity As Trustee Of The Earc Trusts Sc-338,343,366 And 389 – Appellant
Versus
Gtl Infrastructure Limited And Another – Respondent
JUDGMENT
C. Hari Shankar, J. - This is a somewhat unusual Review Petition, preferred by the appellant who has, otherwise, succeeded in the appeal.
2. The Review Petition seeks, essentially, deletion from para 56 of the judgement, dated 18th November, 2020, passed by me in arb a (Comm) 13/2020, of the last sentence. Para 56 of the judgment dated 18th November, 2020, reads thus:
'56. The order, dated 5th May, 2020, passed by the High Court of Bombay in the Suit LD-VC No. 55/20, discloses that, consequent to the issuance of the impugned directions, by the learned arbitral Tribunal, a settlement had been arrived at, between GIL and GTL, consequent to which ? 320 crores had been transferred by GIL to GTL. The order also discloses that this amount was, subsequently, transferred back by GTL and stands deposited in the TRa, maintained in accordance with the TRa agreement. The impugned directions of the learned arbitral Tribunal would, therefore, stand modified to the extent that all payments directed thereunder, would be deposited, not with GIL or in an Escrow account to be maintained by GIL, but in the TRa, created and maintained in accordance with the TRa agreement. The said deposit shall r
The court emphasized that there was no provision for review of an order passed under Section 9 of the arbitration and Conciliation act, 1996, and that the petitioner's request for deletion of a concl....
The jurisdiction of an Arbitral Tribunal does not extend to affecting rights of third-party secured creditors, who must be involved in proceedings for any directions that affect their interests.
The court affirmed its jurisdiction to review its orders while highlighting that a mere filing of a review petition does not grant a stay on award enforcement unless complying with statutory requirem....
An order passed by an authority without giving notice and opportunity of hearing to the affected parties is in violation of the principles of natural justice.
The sufficiency of pleadings in a petition under section 9 of the Arbitration Act and the court's power to grant interim measures to secure a claim, considering the financial condition of the party a....
Interest ceased to run on the deposited amount after the dismissal of FAO No. 284/2005 on 04.12.2008.
power enshrined under Section 151 of the Code can be exercised if there is no express provision contained in the Code or the Special Act.
The court clarified that award debtors must deposit the full awarded sum as a condition for staying enforcement, emphasizing that both public and private parties are subject to the same requirements ....
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