HYDERABAD METOPOLITAN DEVELOPMENT AUTHORITY Vs. CYBERABAD EXPRESSWAY LIMITED

JUDGEMENT

(1.) The Civil Revision Petition has been filed against an order dtd. 9/12/2024 passed by the learned Commercial Court at Hyderabad. The impugned order was passed in CEA No.1 of 2024, which was filed by the petitioners under Sec. 47 of The Code of Civil Procedure, 1908, for dismissal of the Execution Petition (CEP No.25 of 2019) filed by the respondent. The Commercial Court dismissed the petitioners' application by way of the impugned order.

(2.) The petitioners are the Judgment-debtors and the respondents in an arbitration which culminated in an Award dtd. 27/2/2019. The respondent/claimant is the Awardholder having been awarded Rs.140,89,01,800.00 for claim No.1 and Rs.39,50,00,000.00 as bonus annuity along with interest @ 12% per annum for a specified period. The arbitration arose out of a Concession Agreement dtd. 17/8/2007 entered into between the petitioners and the respondent for Design, Construction and Maintenance of an 8-lane access controlled expressway under Phase II-A Programme as an extension of the Outer Ring Road to Hyderabad City, from Kollur to Patancheru from KM 12 to KM 23.7 on Build, Operate and Transfer (BOT) (Annuity) basis. The Arbitration Clause was contained in Clause 39.2 of the Concession Agreement.

(3.) The relevant and undisputed facts leading to the petitioners' filing of the application under Sec. 47 of the CPC, in the Execution Petition filed by the respondent, are as follows: