Geosansar Mauritius Limited v. Genpact India Private Limited
7.IA.4278.2022.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
SHRIKANT SHRINIVAS MALANI ORDINARY ORIGINAL CIVIL JURISDICTION by SHRIKANT SHRINIVAS MALANI Date:
2022.11.24 18:15:17 +0530 INTERIM APPLICATION NO. 4278 OF 2022 IN COMMERCIAL ARBITRATION PETITION NO. 184 OF 2022 Geosansar Mauritius Limited ...Applicant (Ori. Respondent)
IN THE MATTER BETWEEN :
Genpact India Private Limited
...Petitioner
Versus
Geosansar Mauritius Limited
...Respondent
*** Mr. Gaurav Mehta, Mr. Sameer Bindra, Ms. Varshini Sunder i/by Khaitan & Co., for the Applicant.
Mr. Nikhil Sakhardande, Senior Counsel a/w Mr. Priyank Kapadia, Ms. Anshika Misra, Mr. Shanay Shroff i/by AZB & Partners for Respondent/Ori. Petitioner.
*** CORAM : MANISH PITALE, J DATE : 23RD NOVEMBER, 2022.
P. C. :
1.
While admitting the present petition by order dated 30th June, 2022, this Court granted stay to impugned order on the condition that the petitioner deposits the awarded amount. 2.
It is undisputed that the Petitioner has complied with the condition and that there is stay of the award operating in favour of the Petitioner.
3.
By the present application, the Respondent seeks permission to withdraw the amount deposited by furnishing security Shrikant
7.IA.4278.2022.doc to the satisfaction of this Court.
4.
In the interest of justice, the application is allowed in terms of prayer clause (b), thereby permitting the Applicant/Respondent to withdraw the amount deposited by the Petitioner upon furnishing an unconditional bank guarantee of a nationalized Bank to the full extent of amount withdrawn and all future interest thereon, to the satisfaction of the Prothonotary and Senior Master of this Court.
5.
Needless to say that the Bank Guarantee shall be kept alive until further orders of this Court. The Bank Guarantee would have to be renewed at least a month prior to the scheduled date of expiry.
6.
The application stands disposed of, in above terms. (MANISH PITALE, J.) Shrikant