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SANJEEV SACHDEVA, VIKAS MAHAJAN
Shapoorji Pallonji And Company Private Limited – Appellant
Versus
Union of India – Respondent
JUDGMENT
Sanjeev Sachdeva, J. (Oral)
1. Appellant impugns order dated 15.02.2023 whereby the application of the appellant under Section 9 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as the Act) seeking a restraint on the respondent from invocation of the bank guarantee bearing No. SBI-0999519BG0000276 amounting to Rs. 55,04,04,261/- (Rupees Fifty Five Crores Four Lakh Four Thousand Two Hundred and Sixty-One only) issued by the State Bank of India, has been dismissed.
2. When the appeal was filed and listed before this Court on 16.02.2023, the impugned order dated 15.02.2023 had not been made available to the parties or uploaded on the website.
3. Accordingly, this Court by order dated 16.02.2023 directed the concerned bank to produce in Court the pay order that had already been prepared in favour of the respondent.
4. On 20.02.2023, the Assistant General Manager of the State Bank of India produced a pay order in the sum of Rs. 55,04,04,261/- dated 15.02.2023. Said pay order was once again produced in Court on 22.02.2023 by the Assistant Manager, SBI. The pay order was taken over and kept in safe custody of the concerned Registrar of this Court.
5. Learn
The right to approach the Arbitral Tribunal under Section 17 of the Act can be reserved even after withdrawal of an appeal under Section 9 of the Act.
Arbitration - Interim measures - Once Arbitral Tribunal directed return of entire Bank Guarantee, and Bank has also written to appellant, intimating that Bank Guarantee stood discharged in full in fa....
Court affirmed the importance of maintaining a bank guarantee during pending arbitration proceedings while allowing parties to explore their legal remedies regarding claims.
The scope of Section 9 of the Arbitration and Conciliation Act is limited to interim protective measures and does not extend to enforcement of the award or granting the fruits of the award to the awa....
Interim measures – Direction to furnish security in form of Performance Bank Guarantees is contingent upon fulfilment of certain conditions.
The dismissal of a petition for interim relief does not prevent a party from invoking arbitration as per the contract terms.
Failure to comply with statutory obligations under the Arbitration and Conciliation Act, 1996 results in the expiration of interim orders, necessitating the appointment of an Arbitrator for dispute r....
The main legal point established in the judgment is the need for a good prima-facie case, balance of convenience, and irreparable injury for granting interim relief under Section 9 of the Arbitration....
The pendency of an application under Section 34 of the A&C Act is no longer a bar for enforcement of an arbitral award. The court must hear the application under Section 34 of the A&C Act on its meri....
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