Arihant Ship Breakers v. Aqua Labour Asia Pacific Limited
Case brief
What is this about?
Bombay High Court Commercial Division interim order, March 3, 2025, Somasekhar Sundaresan J.; Commercial Arbitration Petition No. 1 of 2024 with Interim Application (L) No. 10230 of 2021; Arihant Ship Breakers v. Aqua Labour Asia Pacific Ltd.; conditional stay of execution of impugned arbitral award; deposit of entire awarded amount plus interest in INR at USD-INR exchange rate of last working day before March 3, 2025; deadline April 21, 2025; oral argument time limits 45/15 minutes; five-page Note on Submissions directed; respondent's threshold maintainability objection pending; Final Hearing - Part II listed April 21, 2025; Crawford Bayley & Co. for Petitioner; Advani & Co. for Respondent.
What did the court decide?
Interim directions only: conditional stay of execution of the impugned award, contingent on the Petitioner depositing the entire awarded amount with interest (computed as of March 3, 2025) in INR at the USD-INR exchange rate of the close of business hours on the last working day before March 3, 2025, on or before April 21, 2025; argument time capped (Petitioner 45 minutes, Respondent 15 minutes); five-page Notes on Submissions directed; matter stood over to April 21, 2025 for 'Final Hearing- Part II'. Petition not finally disposed of; maintainability objection left open.