India Coke And Power Pvt Ltd v. Hiranmaye Energy Ltd

ODC-16, 24 & 30 ORDER SHEET

IN THE HIGH COURT AT CALCUTTA

Ordinary Original Civil Jurisdiction ORIGINAL SIDE (Commercial Division) EC/480/2022 HIRANMAYE ENERGY LIMITED VS INDIA COKE AND POWER PRIVATE LIMITED AND AP/717/2022 M/S INDIA COKE AND POWER PVT LTD VS M/S HIRANMAYE ENERGY LTD AND AP/718/2022 INDIA COKE AND POWER PVT LTD VS HIRANMAYE ENERGY LTD

BEFORE:

The Hon'ble JUSTICE SHEKHAR B. SARAF Date : 29th March, 2023 Appearance:

Mr. Rohit Das, Adv.

Ms. Kishwar Rahman, Adv.

Mr. Rahul Pandey, Adv.

The Court: Counsel on behalf of the award-debtor submits that he is willing to secure the awarded sum along with interest till date. He submits that he has specific instructions from this client on the same.

In light of the same, the award-debtor is directed to deposit the awarded sum by way of cash deposit within a period of six weeks and also put in a bank guarantee for the interest amount from the date of the award till 30th March, 2023 before the Registrar, Original Side within a period of six weeks. The Registrar, Original Side is directed to invest the amount received in an interest bearing fixed deposit account.

Upon compliance of the above order, the arbitration award shall remain stayed and the execution application shall stand over till the disposal of the Section 34 application.

With regard to AP/717/2022, i.e. the Section 34 application, parties are directed to exchange their affidavits. Affidavit-in-opposition be filed within six weeks from date; reply thereto, if any, within three weeks thereafter. Petitioner is directed to serve amended copy of the Section 34 petition within a period of one week from date.

The Section 36 application being AP/718/2022 is disposed of. (SHEKHAR B. SARAF, J.) R.Bhar