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2026 Supreme(Online)(Del) 11475
IN THE HIGH COURT OF DELHI AT NEW DELHI
V. Kameswar Rao, Manmeet Pritam Singh Arora, JJ
SUNITA KOHLI & ANR. VS. RAVI SAWHNEY & ORS.
EFA(OS) (COMM) 18/2023 | EFA(OS) (COMM) 6/2024 | EFA(OS) (COMM) 8/2024
For the Appellants/Petitioners: Monika Shahi, Dinesh Monga, Palak Aggarwal, Apoorv Krishn Bajpai, Abhishek Gupta, Dhananjay Singh, Kumar Kartikeya, Chanakya Kene
For the Respondents: Monika Shahi, Dinesh Monga, Palak Aggarwal, Apoorv Krishn Bajpai
The court is examining the necessity of additional security or a cash deposit as a condition for maintaining an interim stay on the enforcement of an award in an arbitration-related appeal.
Headnote:The matter pertains to an application filed under the Arbitration and Conciliation Act, 1996, where the respondent seeks a direction for the appellant to furnish an additional bank guarantee of Rs. 4 Crores or, in the alternative, deposit a sum of Rs. 18 Crores in the registry as a pre-condition for the continuation of an interim order of restraint on enforcement proceedings. The primary issue is whether the appellant should be required to provide additional security or a cash deposit to maintain the interim stay on enforcement proceedings. The court has taken note of the prayers regarding the unconditional nature of the bank guarantee and the period of claims. The court issued notice to the appellant and re-notified the matter for 09.07.2026.
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| 1. application for additional security as a condition for continuing an interim stay on enforcement proceedings. (Para 1 , 2 , 3 , 4 , 5) |
O R D E R
CM APPL. 29125/2026 in EFA(OS) (COMM) 6/2024
1. This is an application filed by the respondent (Goyal MG Gases Pvt. Ltd.) in EFA(OS) (COMM) 6/2024 with the following prayers:
“A. Directing the Appellant-JD to furnish additional bank guarantee for a sum of Rs. Four Crores in favour of the Respondent-DH.
B. Directing the Respondent JD to ensure the furnishing of a proper bank guarantee, with the following conditions:
i) The said BG should expressly mention the fact that the same is unconditional and shall be honoured by the bank without any demur, protest and without any recourse to the Appellant, in the event of rejection of the Section 37 Petition, bearing Appeal under Section 37 of Arbitration and Conciliation Act, 1996 No. 65 of 2022, pending in the Hon’ble Allahabad High Court, with the period of claims under the BG being in excess of the period of the BG by one year.
ii) The operation of the BG should not be conditional upon the furnishing of any advice (SFMS) issued by the advising bank or inthe alternative the same advice should be furnished.
C. In the alternative, if the Appellant is not agreeable to prayers A. & B. The Appellant be directed to deposit a sum of Rs. 18,00,00,000/- in the registry of this Hon’ble Court as a pre-condition to the continuance of the interim order dated 10.12.2024, failing which the interim order of restraint on the enforcement proceedings in OMP ENF COMM. 263/2018 be vacated.
D. Pass any other such/other orders as this Hon’ble Court may deem fit in the facts of the present case.”
2. Issue notice.
3. Learned counsel for the non-applicant/appellant (Hindustan Cables Limited) accepts notice and seeks time to take instructions.
4. At his request, renotify on 09.07.2026.
EFA(OS) (COMM) 18/2023
EFA(OS) (COMM) 6/2024 CM APPL. 33878/2024
EFA(OS) (COMM) 8/2024 CM APPL. 27106/2024
5. List on the date already fixed.
rt
