M/S. Comfort Securities Limited v. Jhelum Infra Projects India Pvt Ltd And 2 ORS

Nitin 1 / 2 937-ARBAPL-1024-2015

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION APPLICATION (L) NO. 1024 OF 2015 M/s. Comfort Securities Limited ...

Applicant

Versus

M/s. Jhelum Infra Projects India Pvt. Ltd. & Ors. .. Respondents ALONG WITH ARBITRATION PETITION (L) NO. 1025 OF 2015 M/s. Comfort Securities Limited ...

Petitioner

Versus

M/s. Jhelum Infra Projects India Pvt. Ltd. & Ors. ... Respondents Mr.Anand Mishra i/b. Mr. A.M. Saraogi for the Applicant & Petitioner in the above Application as well as Petition.

Mr. Kishor M. Jawle for Respondent No. 1.

Ms. Sunita Rawat i/b. O.A. Das for Respondent No. 2. CORAM : S.J. KATHAWALLA, J.

DATED : 24 TH JULY, 2015 P.C.:

1.

Heard the learned Advocates appearing for the parties and the following order is passed :

i.

Out of the amount of Rs.4,25,00,000/- deposited by Bank of India, Jammu, an amount of Rs.3,60,14,500/- shall be handed over by the Prothonotary and Senior Master to the Applicant / Petitioner within two weeks from the date of this order.

ii.

The Prothonotary and Senior Master of this Court shall retain an amount of Rs.64,85,500/-.

Nitin 2 / 2 937-ARBAPL-1024-2015 iii.

Mr. Cyrus Ardheshir, Advocate is appointed as Arbitrator to decide the issue / dispute between the parties as to whether the Applicant / Petitioner is entitled to claim any interest on the amount paid towards mobilization advance.

iv.

The cost of arbitration shall initially be borne by the parties equally. v.

All contentions of the parties are kept open. vi.

The venue of Arbitration shall be at Mumbai.

vii.

The amount of Rs. 64,85,500/- retained by the Prothonotary and Senior shall be disbursed as per the directions given in the Award. viii.

Parties agree that no reasons be given in support of the above order. ix.

The above Arbitration Application as well as Petition are accordingly disposed of.

(S.J. KATHAWALLA, J.)