The Court disposed of the enforcement petition directed the Registry to release deposited funds to the decree holder subject to existing undertakings pending a Section 34 challenge and associated NCLT proceedings.
Directed the Registry to release the deposited amount with accrued interest to the decree holder within three weeks.
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BGS SGS SOMA JV ..... Decree Holder Through: Mr.Arvind K. Nigam, Sr. Adv. with Mr.Arunabh Chowdhury, Mr.Vaibhav tomar, Mr.Abhishek Roy, Ms.Shruti Choudhry & Mr.Dechen Wangdi Lachungpa, Advs.
versus NHPC LIMITED ..... Judgement Debtor Through: Ms.Maninder Acharya, ASG with Mr.Viplav Acharya, Mr.Tarkeshwar Nath & Mr.Mahavir Prasad, Advs.
CORAM: HON'BLE MS. JUSTICE REKHA PALLI
O R D E R % 03.02.2020
EX.APPL.(OS)534/2019 (by J.D. for direction)
OMP (ENF.) (COMM.) 53/2018
dated 26.08.2016 along with the rectification award dated 04.10.2016 passed by the three-member Arbitral Tribunal.
of the dismissal of the interim application filed by the judgment debtor and the fact that the affidavit of undertaking required from the decree holder stands filed in accordance with the directions of this Court, the amount deposited by the judgment debtor ought to be released in favour of the decree holder without any further delay.
for release of the deposited amount in favour of the decree holder. In these circumstances, irrespective of the pendency of the proceedings against M/s. Soma Enterprises Ltd. before the NCLT, I am of the view that in the light of the previous orders passed by this Court and the decision of the Supreme Court in Hindustan Construction Company (supra) , there is no reason to withhold the release of the amount deposited by the judgment debtor, in favour of the decree holder. The release would, however, remain subject to the undertakings already furnished by the decree holder and its Vice President, who shall continue to remain bound by the same. The Registry is, accordingly, directed to release the amount deposited by the judgment debtor on 06.01.2020 along with accrued interest thereon, in favour of the decree holder within three weeks.
grievance regarding the computation based on which the judgment debtor has deposited the amount.
REKHA PALLI, J FEBRUARY 03, 2020 gm
2 issues framed by the court
Whether the deposited arbitration award amount should be released to the decree holder pending a Section 34 challenge by the judgment debtor.
Whether security needs to be furnished despite pending NCLT proceedings against a related entity.
Colour shows how this judgement treated each authority
Hindustan Construction Company vs. UOI & Ors.Referred
(2019) SCC online 1520 (SC) · Who else cites this
1 provisions across 1 enactments
BGS SGS SOMA JV
NHPC Limited
Rekha Palli
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
