PRAKASH INDUSTRIES LTD. Vs. BENGAL ENERGY LTD.

JUDGEMENT

(1.) The Court: Two applications respectively GA 1 of 2019 (Old GA 1186 of 2019) and GA 2 of 2020 (Old GA 394 of 2020) are appearing in the list with the main application being AP 684 of 2017 for setting aside of an award made under the provisions of Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the said Act). The application being GA 2 of 2020 is an application for amendment of the setting aside application being AP 684 of 2017 made by Prakash Industries Ltd. hereinafter referred to as the petitioner. The said application has been dismissed by the order dated 11th June, 2020. It is not known whether any appeal has been preferred there from. GA 1 of 2019 is an application by Bengal Energy Ltd. and Ors. being the respondents in AP 684 of 2017. The said respondents are referred to as applicants with regard to GA 1 of 2019. The applicants have sought for dismissal of the setting aside application and/or vacating the order dated September 12, 2017. Order dated September 12, 2017 is an order staying the operation of the arbitral award dated 31st March, 2017 upon the petitioner being put into terms.

(2.) By the order dated September 12, 2017 as clarified by the order dated September 20, 2017 the petitioner was directed to deposit a sum of Rs.20 lacs and secure Rs.30 lacs by way of bank guarantee as a condition for stay of operation of the award being the subject matter of challenge.

(3.) Mr. S.N. Mookherjee, learned senior advocate appearing on behalf of the applicant/respondent submits that the recalcitrant approach of the petitioner has compelled his clients to make the present application being GA 1 of 2019.