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* IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 02.02.2026 Judgment pronounced on: 11.02.2026 + O.M.P. (COMM) 339/2024 & I.A. 35804/2024 (Stay)

NTPC LTD .....Petitioner Through: Mr. Gopal Jain, Senior Advocate along with Mr. Adarsh Tripathi, Mr. Vikram Singh Baid and Mr. Ajitesh Garg, Advocates.

versus THRIVENI SAINIK MINING PRIVATE LIMITED .....Respondent Through: Mr. Purvesh Buttan and Ms.

Nishita Gupta, Advocates.

CORAM:

HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

J U D G M E N T

HARISH VAIDYANATHAN SHANKAR, J.

I.A. 410/2025 (For Directions)

1. The present Application, under Section 151 of the Code of Civil Procedure, 1908, CPC, has been filed by the Applicant/Petitioner seeking directions from this Court that the awarded amount pursuant to the Arbitral Award dated 18.04.2024, Award, as deposited by the Petitioner on 24.09.2024, shall not carry any future interest from the date of such deposit.

2. A brief factual background, necessary for the adjudication of the present Application, is set out hereinbelow:

(a) The present controversy emanates from the Award, passed in favour of the Respondent.

(b)Aggrieved by the said Award, the Petitioner/Applicant assailed the same by filing the captioned petition under Section 34 of the Arbitration & Conciliation Act, 1996, Act, before this Court.

(c)Along with the said Petition, the Petitioner filed an application bearing IA No. 35804/2024 under Section 36(2) & (3) of the A&C Act, read with Section 151 of the CPC, seeking the following prayers:

“i. Allow the present application and grant ad-interim stay on the operation of the Award dated 18.04.2024 passed by the Hon’ble Tribunal comprising of HMJ A.K. Sikri (Retd.), HMJ Dipak Misra (Retd.) and HMJ D.K. Jain (Retd.) in the arbitration matter titled as “Thriveni Sainik Mining Private Limited v. NTPC Ltd.”;

ii. Pass such other order(s) that this Hon’ble Court may deem fit and proper in the facts and circumstances of the case.”

(d) Vide Order dated 08.08.2024, this Court in IA No. 35804/2024 subject to the Petitioner depositing the arbitral amount with the learned Registrar General, stayed the operation of the Award, and granted liberty to the Respondent to withdraw the said amount, subject to the satisfaction of the learned Registrar General of this Court.

(e)In compliance with the aforesaid Order dated 08.08.2024, the Petitioner duly deposited the directed amount with the learned Registry of this Court.

(f) Vide Order dated 28.11.2024, learned Joint Registrar of this Court, upon being satisfied that the Respondent had furnished the requisite Bank Guarantee, directed the Registry to release the said amount in favour of the Respondent in pursuance of the Order dated 08.08.2024.

(g) In view of the above, the Petitioner filed the present application, I.A. 410/2025, dated 21.12.2024, seeking issuance of directions from this Court to the effect that the awarded amount as deposited by the Petitioner as on 24.09.2024 shall not bear any future interest from the date of deposit.

3. Learned Senior Counsel appearing on behalf of the Applicant/Petitioner would accordingly contend that, upon the deposit of the awarded amount with the Court, no further interest is liable to accrue thereon.

4. In support of the said submission, reliance would be placed by the learned Senior Counsel upon the Judgment of the Hon’ble Supreme Court in DLF Limited v. Koncar Generators and Motors Ltd., (2025) 1 SCC 343, submitting that, in view of the law laid down therein, the reliefs as sought in the present Application need to be granted in favour of the Applicant/Petitioner herein. The relevant paragraphs of the aforesaid Judgment read as under:

“38. It is important to appreciate the consequence and effect of deposit during the pendency of proceedings to understand the need to convert this amount on that date. Through a deposit, the award debtor parts with the money on that date and provides the benefit of that amount to the award-holder. Provided that the award-holder i