Sterlite Technologies Ltd v. Huawei Technologies Co Ltd

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ FAO(OS) 61/2016 STERLITE TECHNOLOGIES LTD ..... Appellant Through Mr Akhil Sibal with Mr Punit D. Tyagi, Mr Ankit Parmar and Mr Pradeep Chhindra, Advocates.

versus HUAWEI TECHNOLOGIES CO LTD.

..... Respondent Through Mr Sachin Datta, Sr Advocate with Mr Devashish Bharuka, Mr Sanjiv Goel, Mr Vaibhav Niti, Ms Jasmeet Chandioke, Mr Gaurav Chauhan, Ms Arpita Bisnoi and Ms Nauris S., Advocates.

CORAM:

HON'BLE MR. JUSTICE BADAR DURREZ AHMED HON'BLE MR. JUSTICE SANJEEV SACHDEVA

O R D E R

% 25.02.2016 Cav. 173/2016 The learned counsel for the respondent/Caveator is present. The caveat stands discharged.

CM No.7158/2016 (exemption) Exemption is allowed subject to all just exceptions. FAO(OS) 61/2016 & CM Nos.7156/2016 (stay), 7157/2016 (for filing additional documents) We have heard the counsel for the parties.

The counsel for the parties agree that the appellant shall place an amount of Rs 6 crores in a fixed deposit in its own name and file the details of the same before this Court and also provide the details to the learned counsel for the respondent. The said fixed deposit shall be made on or before 29.02.2016. On the making of such deposit, the appellant would not be required to furnish a bank

guarantee and/or cash deposit, as required by the learned Single Judge by virtue of the impugned judgment. The sum of Rs 6 crores shall be kept in the fixed deposit till further directions by the Arbitral Tribunal on an application moved by either of the parties.

The said amount shall also not be encumbered in any way till directions are given by the Arbitral Tribunal. The observations made by the learned Single Judge shall not come in the way of the Arbitral Tribunal taking a decision on the matter. This order has been passed without prejudice to the rights and contentions of the parties.

The appeal stands disposed of.

BADAR DURREZ AHMED, J SANJEEV SACHDEVA, J FEBRUARY 25, 2016 st