In O.M.P. 39/2015 between BIL-BLA-GSCO(JV) and NTPC Limited, the Single Judge informed that arbitration proceedings are ongoing. Citing a Division Bench order that set aside a requirement to invest encashed amounts in FDs, the Court held that no further directions were necessary as the final award would be abided by.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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+ O.M.P. 39/2015
BIL-BLA-GSCO(JV) ..... Petitioner
Through: Mr. Sanjeev Ranjan, Representative of the Petitioner.
versus
NTPC LIMITED ..... Respondent
Through: Mr. Puneet Tanjea & Ms. Shaheen, Advocates.
CORAM: JUSTICE S.MURALIDHAR
O R D E R % 08.12.2016
“On 9th January, 2015 a statement was made on behalf of the respondent that with regard to Advance Bank Guarantees, the respondent shall invest in an interest bearing FDR(s) for a period of 3 months or till such time the petition is decided.
A suggestion is given on behalf of the petitioner that the arbitration proceedings are pending and this order may continue during the arbitration proceedings. The respondent is not agreeable.
Pleadings are complete. List on 8th December, 2016.”
O.M.P. 39/2015
Page 1 of 2
S. MURALIDHAR, J.
DECEMBER 08, 2016 b’nesh
Page 2 of 2
O.M.P. 39/2015
1 issue framed by the court
Whether further directions are required to place the amount realised on encashment of bank guarantees in a fixed deposit.
Colour shows how this judgement treated each authority
Power Grid Corporation of India Ltd. v. IVRCL LimitedRelied on¶19
FAO (OS) No.253/2015 Power Grid Corporation of India Ltd. v. IVRCL Limited
2 provisions across 2 enactments
BIL-BLA-GSCO(JV)
NTPC LIMITED
S. MURALIDHAR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
