National Highways Authority of India Vs Jsr Mulbagal Tollways Pvt. Ltd. — Delhi HC (2025) — LawSathi Research

National Highways Authority of India Vs Jsr Mulbagal Tollways Pvt. Ltd. — Delhi HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

Petition disposed of as withdrawn along with pending applications; refund to the Petitioner of Rs.26,61,94,115/- (deposited as condition precedent of grant of stay of the Award) with accrued interest, electronically; return by the Registry of Bank Guarantee No. SAWGOPG240020289 dated 02.01.2024 for Rs.79,85,82,346/; next date fixed in the matter, i.e., 26.03.2025, cancelled.

Issue for consideration

Whether the Petitioner may be permitted to withdraw its petition challenging the arbitral Award dated 03.08.2023, in terms of the Settlement Agreement dated 20.01.2025. +1 more

Court's answer

This Court disposed of the petition as withdrawn, along with any pending applications, both parties being bound by the Settlement Agreement dated 20.01.2025.

Ratio / Principle

The amount of Rs.26,61,94,115/- deposited by the NHAI before this Court as a condition precedent of grant of stay of the Award is directed to be refunded to the Petitioner, along with accrued interest, electronically into the Petitioner's bank account.

Key takeaways

The Registry is directed to return to the Petitioner the Bank Guarantee bearing No. SAWGOPG240020289 dated 02.01.2024 for a sum of Rs.79,85,82,346/, which formed part of the conditional-stay Order dated 23.11.2023.ratio¶18

Detailed headnote1 paragraphs

Withdrawal/disposal order: The High Court of Delhi (Subramonium Prasad, J., 07.02.2025) disposed of O.M.P. (COMM) 475/2023 — National Highways Authority of India v. JSR Mulbagal Tollways Pvt. Ltd. — as withdrawn, pursuant to a Settlement Agreement dated 20.01.2025 filed with the withdrawal application, both parties being bound by it. The underlying petition challenged an Arbitral Tribunal Award dated 03.08.2023, whose stay (Order dated 23.11.2023) had been conditioned on a deposit of Rs.26,61,94,115/- before the Court and a Bank Guarantee (No. SAWGOPG240020289, dated 02.01.2024) for Rs.79,85,82,346/. On withdrawal, the Court directed refund of the deposit with accrued interest to the Petitioner electronically and return of the Bank Guarantee by the Registry, and cancelled the hearing fixed for 26.03.2025. No statute or precedent was cited.

$~36

IN THE HIGH COURT OF DELHI AT NEW DELHI

- O.M.P. (COMM) 475/2023

NATIONAL HIGHWAYS AUTHORITY OF INDIA .....Petitioner

Through: Mr.Manish K Bishnoi, Mr Khubaib Shakeel, Advs.

versus

JSR MULBAGAL TOLLWAYS PVT. LTD. .....Respondent Through: Mr. Kaushik Laik, Mr. Ashay Kaushik, Mr. Shashank Tiwari, Advocates

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

O R D E R % 07.02.2025

I.A. 3249/2025

This is an application on behalf of the Petitioner seeking permission to withdraw the petition in terms of the Settlement agreement dated 20.01.2025.

The present petition has been filed challenging the Award dated 03.08.2023 passed by the Arbitral Tribunal. The Petitioner and the Respondent have entered into a settlement agreement which has been filed along with the copy of the application of withdrawal. Both parties are bound by the settlement agreement dated 20.01.2025.

The petition is disposed of as withdrawn along with pending application(s), if any.

Since the petition is being withdrawn, the amount of Rs.26,61,94,115/- which has been deposited by the NHAI before this Court

This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 13/02/2025 at 12:49:09

as a condition precedent of grant of stay of the Award is directed to be refunded to the Petitioner along with the accrued interest in the bank account of the Petitioner electronically.

The Petitioner has also furnished a Bank Guarantee which is also part of the Order dated 23.11.2023 granting conditional stay to the Petitioner. The Registry is also directed to return the Bank Guarantee bearing No.SAWGOPG240020289 dated 02.01.2024 for a sum of Rs.79,85,82,346/to the Petitioner.

The next date already fixed in the matter, i.e., 26.03.2025, stands cancelled.

The application is disposed of.

SUBRAMONIUM PRASAD, J

FEBRUARY 07, 2025 hsk

This is a digitally signed order.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 13/02/2025 at 12:49:09