Partly allowed
M/S Consolidated Construction Consortium Limited- Sam India Jv v. Rail Vikas Nigam Limited
Delhi HCOMP (ENF.) (COMM.)/34/2021
Case brief
AI extract
What is this about?
A joint application to bring on record a settlement agreement with a fallback clause styled as an arbitral award under Section 74 of the Arbitration and Conciliation Act, 1996. The High Court disposed of the execution petition as withdrawn, ordered release of the deposited amount, and cancelled the next hearing date.
What did the court decide?
The execution petition was dismissed as withdrawn. The deposited amount along with accrued interest was directed to be released to the judgment-debtor. The next hearing date was cancelled.