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

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

What the court decided

AI extract

Outcome

Conditional leave to the Applicants/original Respondents to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master, High Court, Bombay, permitted only against furnishing of a bank guarantee of a nationalized bank covering the withdrawn amount, accrued interest thereon, and further interest at 7% per annum on the aggregate (principal + interest) for a further period of one year, the bank guarantee to be furnished on or before 20th January 2026.

Issue for consideration

Whether the Applicants/original Respondents should be permitted to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master, High Court, Bombay.

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Respondents undertook to furnish a bank guarantee of a nationalized bank for the amount sought to be withdrawn along with accrued interest thereon.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 additionally 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 is to be furnished on or before 20th January 2026.ratio¶22
Withdrawal of the deposited amount is permitted only against furnishing of the bank guarantee of the stipulated amount.ratio¶23
In view of the above directions, all Interim Applications stand disposed of.ratio

Detailed headnote1 paragraphs

High Court of Judicature at Bombay, Ordinary Original Civil Jurisdiction (Kamal Khata, J.), order dated 2nd December 2025 — Five Interim Applications (Nos. 6902, 6109, 6057, 6171 and 6118 of 2025) filed by Cobra Instalaciones Y Services, the original Respondent, in Commercial Arbitration Petition Nos. 39, 43, 59, 60 and 67 of 2022 (Maharashtra State Electricity Distribution Company Limited v. Cobra Instalaciones Y Services), seeking leave to withdraw the amounts deposited by the Petitioner with the Prothonotary and Senior Master pursuant to the Order dated 5th April 2023, disposed of. Withdrawal permitted only against a bank guarantee of a nationalized bank covering the amount sought to be withdrawn with accrued interest thereon and, in addition, further interest at 7% per annum on the aggregate amount (principal + interest) for a further period of one year; bank guarantee to be furnished on or before 20th January 2026; replies, if any, to be filed in the Registry on or before 5th December 2025.

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.

1/2

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.)

2/2