(1.) By this Interim Application, the Applicant / Decree Holder has sought interim relief in aid of enforcement of the final Arbitral Award dtd. 30/11/2023 passed by the Sole Arbitrator ('the Award').
(2.) By the said Award, the Sole Arbitrator has awarded a principal decretal sum of INR 12,52,53,938/- and interest on the principal decretal sum at 10% p.a. from the date of the Award (i.e. 30/11/2023) till actual payment against the Respondent No.1 and costs of INR 22,25,000/- against the Respondents.
(3.) The Respondent Nos.1 and 2 have filed a joint / common Petition under Sec. 34 of the Arbitration Act (Commercial Arbitration Petition No.149 of 2025), challenging the Award. By an Order dtd. 22/4/2025 read with Order dtd. 29/4/2025, the execution of the said Award was stayed to the limited extent of paragraph 176(c) of the Award i.e. to the extent of 'costs' component of the Award of INR 22,25,000/- conditional upon a 100% deposit of that sum, which deposit was thereafter made. Resultantly, the amount of INR 14,79,71,228/- under the Award remains admittedly unsatisfied and outstanding. There is no stay on recovery of the said amount.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
Read More
Sales: sales@the-laws.com
Support: info@the-laws.com
8000853936
9376168072
27, 4TH FLOOR, Agrawal Center, Ashram Road, Income Tax, Ahmadabad 380014.
LOGIN