Cobra Instalaciones Y Services Sa vs Maharashtra State Electricity Distribution Company Limited — Bombay HC (2025) — LawSathi Research

Cobra Instalaciones Y Services Sa vs Maharashtra State Electricity Distribution Company Limited — Bombay HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

Leave effectively granted to the Applicants to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master, High Court, Bombay, conditional upon furnishing a bank guarantee of a nationalized bank covering the withdrawn amount with accrued interest plus further interest at 7% per annum on the aggregate (principal + interest) for one further year, to be furnished on or before 20th January 2026; withdrawal permitted only against such bank guarantee.

Issue for consideration

Whether the Applicants (Original Respondents) should be granted leave to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master, High Court, Bombay pursuant to the Order dated 5th April 2023.

Court's answer

Upon instructions, the Applicants/Original Respondents undertook to furnish a bank guarantee of a nationalized bank for the amount sought to be withdrawn along with accrued interest thereon.

Ratio / Principle

The guaranteed amount shall also include further interest at 7% per annum on the aggregate amount (principal + interest) for a further period of one year.

Key takeaways

The bank guarantee shall be furnished on or before 20th January 2026.ratio¶22
It is clarified that the Prothonotary and Senior Master, High Court, Bombay shall permit withdrawal of the amount only against furnishing of the bank guarantee of the stipulated amount.ratio¶23
Replies, if any, shall be filed in the Registry on or before 5th December 2025.ratio

Detailed headnote1 paragraphs

Interim Applications Nos. 6902, 6109, 6057, 6171 and 6118 of 2025 in Commercial Arbitration Petitions Nos. 39, 43, 59, 60 and 67 of 2022 (Maharashtra State Electricity Distribution Company Limited v. Cobra Instalaciones Y Services), decided by Kamal Khata, J. on 2nd December 2025: The Applicants/Original Respondents sought leave to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master, High Court, Bombay pursuant to the Order dated 5th April 2023. The Court recorded the Applicants' undertaking to furnish a bank guarantee of a nationalized bank for the amount sought to be withdrawn along with accrued interest thereon, the guaranteed amount to also include further interest at 7% per annum on the aggregate amount (principal + interest) for a further period of one year. The bank guarantee was to be furnished on or before 20th January 2026, and it was clarified that the Prothonotary and Senior Master shall permit withdrawal only against furnishing of the bank guarantee of the stipulated amount. Replies, if any, were to be filed in the Registry on or before 5th December 2025. All Interim Applications were disposed of.

17-osia-6902-2025+.doc

Sumedh

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

INTERIM APPLICATION NO.6902 OF 2025 IN

COMMERCIAL ARBITRATION PETITION NO.39 OF 2022

Cobra Instalaciones Y Services …. Applicant In the matter between Maharashtra State Electricity Distribution Company Limited … Petitioner v/s. Cobra Instalaciones Y Services ... Respondent

WITH

INTERIM APPLICATION NO.6109 OF 2025 IN

COMMERCIAL ARBITRATION PETITION NO.43 OF 2022 WITH INTERIM APPLICATION NO.6057 OF 2025 IN

COMMERCIAL ARBITRATION PETITION NO.59 OF 2022 WITH INTERIM APPLICATION NO.6171 OF 2025 IN

COMMERCIAL ARBITRATION PETITION NO.60 OF 2022 WITH

INTERIM APPLICATION NO.6118 OF 2025 IN

COMMERCIAL ARBITRATION PETITION NO.67 OF 2022

Mr. J.P. Sen a/w. Adv. Akshay Patil, Adv. Soham Bhalerao, Adv. Harshit Tyagi i/by DSK Legal for the Original Petitioner. Mr. Sumit Rai a/w. Adv. Aditya Mehta, Adv. Vineet Bhansali, Adv. Poornima Eapen i/by Cyril Amarchand Mangaldas for the Applicant.

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Digitally signed by SUMEDH SUMEDH NAMDEO NAMDEO SONAWANE SONAWANE Date: 2025.12.03 11:05:18 +0530

17-osia-6902-2025+.doc

CORAM : KAMAL KHATA, J.

DATED : 2ND DECEMBER 2025. P.C. :

By these Interim Applications, learned Advocate for the Applicants seeks leave to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master, High Court, Bombay pursuant to the Order dated 5^th April 2023.

Upon instructions, the Applicants/Original Respondents undertake to furnish bank guarantee of a nationalized bank for the amount sought to be withdrawn along with accrued interest thereon. The guaranteed amount shall also include further interest at 7% per annum on the aggregate amount (principal + interest) for a further period of one year.

The bank guarantee shall be furnished on or before 20^th January 2026.

It is clarified that the Prothonotary and Senior Master High Court, Bombay shall permit withdrawal of amount only against furnishing of the bank guarantee of the stipulated amount.

All parties to act on authenticated copy of this Order.

Replies, if any, shall be filed in the Registry on or before 5^th December 2025.

In view of the above, all Interim Applications are disposed of.

(KAMAL KHATA, J.)

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