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SANJAY KUMAR MISHRA
Birla Institute of Management and Technology (BIMTECH) – Appellant
Versus
Fiberfill Interiors and Constructions – Respondent
JUDGMENT
S.K. Mishra, J.—The Writ Petition has been preferred challenging the order dated 23.12.2023 passed by the Court of Senior Civil Judge (Commercial Court), Bhubaneswar, in Execution Petition No.367 of 2023, vide which the Petition dated 02.12.2023 filed under section 36(2) of the Arbitration and Conciliation Act, 1996, shortly, hereinafter “the Act, 1996”, by the Petitioner, being the Judgment Debtor, stood rejected and the matter was posted for hearing on Execution Petition.
2. The brief background facts, which led to filing of the present Writ Petition, are that the Petitioner issued a Letter of Intent (LOI) in favour of the Opposite Party for execution of civil construction, furnishing and interior design of various buildings at the premises of the Petitioner situated at Birla Institute of Management and Technology, IDCO Plot No.2, Gothapatna, Bhubaneswar, Odisha.
Pursuant to the same, a formal agreement was executed between the parties, wherein it was, inter alia, agreed that the Opposite Party will complete the work by 15.11.2012 for a contract value of Rs.18,00,00,000/- (Rupees Eighteen Crores) only. Several correspondences were addressed by the Petitioner to the Opposi
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 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....
Execution of an arbitral award requires compliance with the 90-day limitation under Section 34; execution petitions filed before this period are impermissible.
An unconditional stay of an arbitral award is impermissible unless specific statutory conditions under Section 36(3) of the Arbitration Act are fulfilled.
Unconditional stay of monetary arbitral awards under Section 36 requires exceptional case of prima facie perversity or illegality; otherwise, deposit of full award amount appropriate, guided by Code ....
The enforcement of an arbitral award can be initiated anywhere in the country where the decree can be executed, without requiring a transfer of decree from the court with jurisdiction over the arbitr....
The main legal point established in the judgment is the discretion of the court to direct the petitioner to furnish security on the full arbitral award and the impact of the Arbitration and Conciliat....
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