Disposed

Only Retail Private Limited v. Kuehne Nagel Private Limited

Bombay HC22 Aug 2024CARBP/179/2024

Case brief

AI extract

What is this about?

In consolidated Commercial Arbitration Petitions, the Court directed the withdrawal of Bank Guarantee invocations upon the Petitioner's undertaking to deposit Rs. 10 Lakhs in each matter with the Prothonotary & Senior Master within ten days.

What did the court decide?

Withdrawal of Bank Guarantee invocations conditional on deposit of Rs. 10 Lakhs per matter within ten days.

Only Retail Private Limited vs Kuehne Nagel Private Limited — Arbitration | Bombay HC (2024)

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904-TO-906-IAL-25991-2024 WITH CARBP-307-2023.DOC

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Shephali

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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IN ITS COMMERCIAL DIVISION

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INTERIM APPLICATION (L) NO. 25997 OF 2024

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COMMERCIAL ARBITRATION PETITION (L) NO. 307 OF 2023

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Vero Moda Private Limited …Applicants IN THE MATTER BETWEEN Vero Moda Private Limited …Petitioner Versus Kuehne + Nagel Private Limited …Respondent

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AND

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SHEPHALI SANJAY MORMARE

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Digitally signed by SHEPHALI SANJAY MORMARE Date: 2024.08.22 18:03:11 +0530

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INTERIM APPLICATION (L) NO. 26030 OF 2024 IN COMMERCIAL ARBITRATION PETITION (L) NO. 16637 OF 2023 Best United India Comforts Private Limited …Applicants IN THE MATTER BETWEEN Best United India Comforts Private Limited …Petitioner Versus Kuehne + Nagel Private Limited …Respondent

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AND

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INTERIM APPLICATION (L) NO. 26035 OF 2024

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Page 1 of 3

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904-TO-906-IAL-25991-2024 WITH CARBP-307-2023.DOC

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COMMERCIAL ARBITRATION PETITION NO. 179 OF 2024

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Only Retail Private Limited …Applicant IN THE MATTER BETWEEN Only Retail Private Limited …Petitioner Versus Kuehne + Nagel Private Limited …Respondent

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Ms. Pranita Saboo , i/b DSK Legal, for the Applicants/Petitioners Ms. Divya V. Parab , i/b Satishkumar Soni, for the Respondents.

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CORAM: ARIF S. DOCTOR, J DATED: 22nd August 2024

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PC:-

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By an order dated 28th June 2023, this Court had directed the Petitioner to furnish the Bank Guarantee of Rs. 10 Lakhs in each Arbitration Petition, which shall be kept alive for a period of one year from its presentation before the Prothonotary & Senior Master.

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Learned Counsel appearing on behalf of the Applicants has pointed out that the Petitioner has in due compliance with this order furnished three Bank Guarantees. She further submits that on account of inadvertence the Bank Guarantees could not be renewed and thus the same have been invoked by the Prothonotary & Senior Master vide three separate letters all dated 16th August 2024. I am informed that

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Page 2 of 3

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904-TO-906-IAL-25991-2024 WITH CARBP-307-2023.DOC

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the amount under the Bank Guarantees have yet not been paid by the Bank to the Respondent.

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Learned Counsel today submits that the Petitioner shall in terms of the order dated 28th June 2023 deposit a sum of Rs. 10 Lakhs in each of the captioned Arbitration Petitions with the Prothonotary & Senior Master and, therefore, the Prothonotary & Senior Master be directed to withdraw the letters of invocation. There is no opposition to this application. Hence, in view of the statement made by the Learned Counsel for the Petitioner that the Petitioner shall, within a period of ten days, make payment to the Prothonotary & Senior Master of a sum of Rs. 10 Lakhs in each of the Arbitration Petitions, the Prothonotary & Senior Master is directed to withdraw the three letters of invocation dated 16th August 2024 invoking the Bank Guarantees.

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The statement made by the Learned Counsel appearing on behalf of the Applicants is accepted as undertaking to the Court.

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All three Interim Applications are disposed of in the aforesaid terms.

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(ARIF S. DOCTOR, J)

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Page 3 of 3

Only Retail Private Limited v. Kuehne Nagel Private Limited

Case brief

What is this about?

What did the court decide?

Only Retail Private Limited v. Kuehne Nagel Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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Case details

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