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ALOK ARADHE, ANIL KUMAR JUKANTI
Madhucon Projects Limited – Appellant
Versus
Absolute Built Concept Private Limited – Respondent
ORDER :
Alok Aradhe, CJ.
Mr. Atul Chitale, learned Senior Counsel represents Venkata Sai Krishna Ponnuru, learned counsel for the petitioner.
Mr. P. Soma Sekhara Naidu, learned counsel appears for respondent No.1.
2. With the consent of the learned counsel for the parties, the matter is heard finally.
3. In this Civil Revision Petition filed under Article 227 of the Constitution of India, the petitioner has assailed the validity of the order dated 24.01.2024 passed by the Additional Special Court in the cadre of District Judge for Trial and Disposal of Commercial Disputes at Hyderabad (hereinafter referred to as ‘the Commercial Court’) by which I.A.No.16 of 2022 in COP.No.28 of 2022 preferred by the petitioner under Section 36(3) of the Arbitration and Conciliation Act, 1996 (for short ‘the Act’) seeking stay of enforcement of the Award dated 04.05.2021, has been allowed subject to payment of 50% of the amount of award along with interest.
4. Facts giving rise to filing of the petition briefly stated are that the petitioner was awarded the work of construction of Two Laning of Existing Hunli-Anini Road on EPC Basis in the State of Arunachal Pradesh in November, 2015, by National Highways
The court emphasized that conditions for staying an arbitral award must be reasonable and justified, adhering to established legal principles.
An unconditional stay of an arbitral award is impermissible unless specific statutory conditions under Section 36(3) of the Arbitration Act are fulfilled.
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 limited scope of interference by the court in arbitration proceedings and the need to make a prima facie case for granting a stay of execution of the arbitration award.
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.
Automatic suspension of execution of the award, the moment an application challenging the said award is filed under section 34 of Act leaving no discretion in court to put parties on terms, in court ....
The Arbitration and Conciliation Act, 1996 provides a comprehensive mechanism for arbitration, and the CPC's role in enforcement is limited, emphasizing the distinction between an Arbitral Award and ....
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