STATE OF WEST BENGAL Vs. ELSAMEX SA

JUDGEMENT

(1.) The Court : This is an application filed by the petitioner for staying of the operation of the majority Arbitral Award dated 25th October, 2010 as corrected by the letter dated 3rd November, 2010.

(2.) Learned senior counsel appearing for the petitioner relies on Section 36 (2) and (3) of The Arbitration and Conciliation Act, 1996 which were brought in with effect from 23rd October, 2015. He submits that the instant application has been necessitated by reason of the amendments to the Act and in view of the judgement of the Hon'ble Supreme court Board of Control For Cricket in India -Vs- Kochi Cricket Pvt. Ltd. reported in (2018) 6 SCC, 287.

(3.) Learned counsel also relies upon Union of India -Vs- Pam Development Pvt. Ltd. where it was held that Union of India and the State Government may be exempted from furnishing security under Order XXVII Rule 8A of the CPC. The decision has reached finality in view of the order passed by the Hon'ble Supreme Court on 3rd December, 2018 which rejected the Special Leave Petition filed from the said order.