Allowed

M/S S.M. Engineers (India) Pvt. Ltd. v. M/S Nuvoco Vistas Corporation Ltd.

Gauhati HC18 Dec 2020I.A.(Civil)/105/2020

Case brief

AI extract

What is this about?

Upon application for leave to withdraw a specific amount from the arbitral award principal, the Gauhati High Court permitted the applicant to withdraw Rs. 38 lakhs with interest, directing the Registry to release the funds upon submission of an indemnity bond.

What did the court decide?

Allowance of withdrawal of Rs. 38,00,000/- with interest against submission of an indemnity bond and direction to Registry to release the amount.

M/S S.M. Engineers (India) Pvt. Ltd. Vs M/S Nuvoco Vistas… — Arbitration | Gauhati HC (2020)

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GAHC010007532020

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THE GAUHATI HIGH COURT (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)

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Case No. : I.A.(Civil)/105/2020

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M/S S.M. ENGINEERS (INDIA) PVT LTD

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REGISTERED OFFICE AT 3RD FLOOR, ANIL PLAZA, G.S. ROAD, GUWAHATI 781005, DIST. KAMRUP (M), ASSAM (REPRESENTED BY MR. NEELAMJYOTI BORA)

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VERSUS

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M/S NUVOCO VISTAS CORPORATION LTD

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(EARLIER KNOWN AS M/S LAFARGE INDIA LTD./LAFARGE INDIA PVT. LTD./M/S LAFARGE AGGREGATES AND CONCRETE INDIA PVT. LTD.), EQUINOX BUSINESS PARK, TOWER 3, 4TH FLOOR, LBS MARG, OFF BANDRA KURLA COMPLEX, KURLA (WEST) MUMBAI 400070, INDIA (REPRESENTED BY MS. KIRAN SHARMA)

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Advocate for the Petitioner : MR. R HAZARIKA

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Advocate for the Respondent : MR. M DAS

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Linked Case : Arb.A./3/2019

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M/S NUVOCO VISTAS CORPORATION LTD

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(EARLIER KNOWN AS M/S LAFARGE INDIA LTD./LAFARGE INDIA PVT. LTD.) EQUINOX BUSINESS PARK TOWER-3 4TH FLOOR LBS MARG

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OFF BANDRA KURLA COMPLEX KURLA (WEST) MUMBAI 400070 REPRESENTED BY MS. KIRAN SHARMA D/O MR. RAMLAL SHARMA R/O EQUINOX BUSINESS PARK TOWER-3 4TH FLOOR LBS MARG OFF BANDRA KURLA COMPLEX KURLA (WEST) MUMBAI 400070 MAHARASHTRA VERSUS M/S S.M. ENGINEERS (INDIA) PVT LTD REGISTERED OFFICE AT 3RD FLOOR ANIL PLAZA G.S. ROAD GUWAHATI 781007 DIST. KAMRUP (M) ASSAM.

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-----------Advocate for : MR. B D DEKA Advocate for : MR. R HAZARIKA appearing for M/S S.M. ENGINEERS (INDIA) PVT LTD

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BEFORE

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THE HON’BLE MR JUSTICE PRASANTA KUMAR DEKA O R D E R

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18. 12. 2020

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Heard Mr. D Das, learned Senior counsel assisted by Mr. R Hazarika, learned counsel for the applicant. Also heard Mr. K Goswami, learned counsel for the respondent appellant.

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This application is filed seeking for the leave of this court to withdraw the amount of Rs. 38,00,000/- forming part of the principal award along with interest added thereon amounting to Rs. 76,85,462.24.

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In view of the order dated 04.11.2019 and the submission made by Mr. Goswami, the

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applicant is allowed to withdraw the said amount of Rs. 38,00,000/- and to that effect Registry is directed to release the said amount to the applicant subject to submission of an indemnity bond by the applicant. With the said observation and direction, this petition stands disposed of.

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JUDGE

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Comparing Assistant

M/S S.M. Engineers (India) Pvt. Ltd. v. M/S Nuvoco Vistas Corporation Ltd.

Case brief

What is this about?

What did the court decide?

M/S S.M. Engineers (India) Pvt. Ltd. v. M/S Nuvoco Vistas Corporation Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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