Tata Steel Limited v. Msp Sponge Iron Limited

OCD-17 & 37 ORDER SHEET AP/539/2023

IN THE HIGH COURT AT CALCUTTA

Ordinary Original Civil Jurisdiction ORIGINAL SIDE (Commercial Division) TATA STEEL LONG PRODUCTS LIMITED VS MSP SPONGE IRON LIMITED And AP/189/2023 TATA STEEL LONG PRODUCTS LIMITED (FORMERELY KNOWN AS TATA SPONGE IRON LIMITED) VS MSP SPONGE IRON LIMITED

BEFORE:

The Hon'ble JUSTICE MOUSHUMI BHATTACHARYA Date : September 4, 2023.

Appearance:

Mr. Ratnanko Banerji, Sr. Adv.

Mr. Deepan Sarkar, Adv.

Mr. Jaydeb Ghorai, Adv.

Mr. Suman Chatterjee, Adv.

Mr. Diptesh Ghorai, Adv.

...for the petitioner Mr. Shounak Mukhopadhyay, Adv.

Mr. Vishwaroop Acharyya, Adv.

...for the respondent The Court: Learned counsel appearing for the petitioner submits upon instructions that the petitioner will secure the awarded amount which is Rs.8,12,28,000/-.

AP/539/2023 is accordingly allowed and disposed of by directing the petitioner/ award-debtor to pay 50% of Rs.8,12,28,000/- by way of cash deposit and the remaining 50% by way of a bank guarantee with the Registrar, Original Side within four weeks, as proposed, from tomorrow, i.e. on 5th September, 2023.

The operation of the impugned Award will be stayed on and from the date following the full payment of the petitioner/ award-debtor to the Registrar, Original Side.

In the event the petitioner defaults on the directions stated above, the award-holder shall be at liberty of executing the Award. AP/189/2023, which is the Section 34 application, will appear on 27th September, 2023.

The parties will be at liberty of mentioning the execution application for listing in the week beginning 25th September, 2023. (MOUSHUMI BHATTACHARYA, J.) sg.