M/S Zoom Communications Pvt. Ltd v. M/S. Oriental Insurance Company Ltd

$~28 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 226/2022 & EX.APPL.(OS) 3698/2022 M/S ZOOM COMMUNICATIONS PVT. LTD ..... Decree Holder Through:

Mr Akash Panwar, Mr Aman Panwar and Mr Shivam Singh, Advs.

versus M/S. ORIENTAL INSURANCE COMPANY LTD ..... Judgement Debtor Through:

Mr Amit Kumar Singh and Mr Apratim Animesh Thakur, Advs.

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 09.01.2024 1.

This is a petition seeking enforcement of arbitral award dated 09.03.2022 read with correction order dated 30.06.2022. 2.

The judgment-debtor has challenged the final Arbitral Award by filing O.M.P. (Comm.) 433/2022 wherein the Coordinate Bench has stayed the execution of the Award subject to deposit of the award amount. Pursuant to the said directions, the judgment-debtor has deposited Rs. 5.22 crores in compliance of the order dated 10.04.2023.

3.

Since the execution of the arbitral award has already been stayed by a Coordinate Bench, the execution petition as of today will not lie. The execution petition is disposed of permitting the decree-holder to revive the same and/or file fresh execution after adjudication of O.M.P. (Comm.) 433/2022.

4.

The petition is disposed of granting the liberty as aforesaid. JASMEET SINGH, J JANUARY 9, 2024/sr 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 13/05/2024 at 12:24:43