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High Court of DelhiOMP (ENF.) (COMM.)/80/2024

M/S Dsc Limited v. Union Of Inida

2024-04-23Hon'Ble Mr. Justice Jasmeet Singh2 pages

$~54 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ OMP (ENF.) (COMM.) 80/2024 M/S DSC LIMITED ..... Decree Holder Through:

Mr. Vineet Tayal, Ms. Nishtha Wadhwa, Advs.

versus UNION OF INDIA ..... Judgement Debtor Through:

Mr. Lalltaksh Joshi, Adv.

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 23.04.2024 1.

This is a petition seeking execution of the Arbitral Award dated 30.12.2021 and direction to the judgment debtor to return the original bank guarantee bearing No.

0410916BG100454 for an amount of Rs.

6,25,21,519/-.

2.

Admittedly, the above said bank guarantee was given towards performance for achieving different milestones under the agreement. 3.

The learned Sole Arbitrator in para 68.3 of the Award held that the levy of compensation by the judgment debtor was unjustified in terms of the contract and hence, there was no question of recovery from the decreeholder. 4.

Consequently, the bank guarantees issued by the decree-holder cannot be encashed by the judgment debtor pursuant to the said award. 5.

Even though the Award dated 30.12.2021 is under challenge, there is 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 29/04/2024 at 12:38:13

no stay on the award or interim order in favour of the judgment debtor. 6.

For the said reasons, the petition is allowed. 7.

The original bank guarantee bearing No. 0410916BG100454 for an amount of Rs. 6,25,21,519/- needs to be returned to the decree-holder and shall be so done within 1 week from today.

8.

The judgment debtor shall also pay Rs. 13,45,000/- along with 10% interest with up-to-date interest within 4 weeks. 9.

With these directions, the petition is disposed of. 10.

The order passed today is in view of the facts recorded above and will have no bearing on the contempt petition filed by the judgment debtor against the decree-holder being CONT.CAS(C) 28/2020. 11.

In case the above directions are not complied with, the decree-holder is entitled to revive the petition.

JASMEET SINGH, J APRIL 23, 2024/DM Click here to check corrigendum, if any 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 29/04/2024 at 12:38:13