High CourtsSingle Bench(2022) 01 CAL CK 0017

Rashmi Metaliks Limited vs Nem Engineering Projects Private Limited

Calcutta High Court · Decided on 11 January 2022

HON’BLE JUDGES
Ravi Krishan Kapur, J
RESULT
Disposed Of
CASE NUMBER
IA No: GA/1/2021 AP No. 462 Of 2021

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Judgment

19 paragraphs · 227 words

Sl. No.,Particulars of Award,,Amount

(i),Principal sum,:,"Rs.35,29,760.75

(ii),"Interim Interest @ 10%Â per annumÂ

calculated from 7th August,   Â

2012    to    30th September,

2021",:,"Rs.32,30,939.91

(iii),"Interest   for   pre-reference

period @ 18% P.A. from due dates Â

of  the  four  unpaid bills to date

of reference.",:,"Rs.3,08,403.00

(iv),Cost of Arbitration,:,"Rs.5,00,000.00

,Total,:,"Rs.75,69,103.66

amount of Rs.75,69,103.66/- by way of cash security or its equivalent to the satisfaction of the Registrar Original Side, High Court at Calcutta. Upon",,,

such deposit being made, the Registrar Original Side is directed to make a fixed deposit of the said amount with any nationalised bank and keep the",,,

same renewed till the disposal of the application under Section 34 of the Act or until further orders of Court. The remaining 50% of the awarded,,,

amount of Rs.75,69,103.66/- shall be secured by way of bank guarantee(s) of a nationalised bank by the petitioner to the satisfaction of the Registrar",,,

Original Side, High Court. The aforesaid exercise is to be completed within a period of four weeks from the date of this order. In the event security as",,,

directed above is furnished, there shall be stay of execution of the award till disposal of AP 462 of 2021.",,,

14.

With the aforesaid directions, IA No:GA 1 of 2021 in AP 462 of 2021 stands disposed of.",,,