M/S Ashoka Buildcon Ltd(Joint ... vs National Highways Authority Of ...
2022 Latest Caselaw 6156 Bom

TAUSEEF
LAIQUEE
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                                                                          904-IA.10041.2022.doc
TAUSEEF LAIQUEE
FAROOQUI
Date: 2022.07.06
18:02:17 +0530                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                     CIVIL APPELLATE JURISDICTION

                                  INTERIM APPLICATION NO.10041 OF 2022
                                                  IN
                                  ARBITRATION APPLICATION NO.18 OF 2013


                      M/s. Ashoka Buildcon Ltd.
                      (Joint Venture with Birla GTM
                      Enterpose Ltd.)                          ...Applicant/org. Respondent.
                                 V/S
                      National Highways Authority of India     ...Respondent/Org. Applicant.
                                                     -------

                      Mr. R. S. Apte, Senior Advocate a/w. A. A. Garge for Applicant/Org.
                      Respondent.

                      Mr. Anish Sharma i/by M.V. Kini & Co. for Respondent/Org.
                      Applicant.
                                                -------


                                                  CORAM        :     R. I. CHAGLA, J.

                                                  DATED        :     1st JULY, 2022.

                      P.C.

1. Heard Mr. Apte, learned senior counsel appearing for the

Applicant/Original Respondent.

2. By this Interim Application, the Applicant is seeking stay

of the Judgment and decree dated 28th September 2012, passed by

the District Judge-7, Pune in Civil M.A. No.903 of 2008 as well as

award dated 15th May 2008 and corrigendum therein dated 17 th

Tauseef 1 of 3 904-IA.10041.2022.doc

June 2008 on providing Corporate Guarantee and undertaking by

the Applicant to pay the money, if the Appeal is decided against

them.

3. Mr. Apte has stated that the Axis Bank has in their letter

dated 17th June 2022, addressed to the Applicant/Original

Respondent referred to their previous letter dated 25 th June 2021,

wherein they had communicated that any extension in Bank

Guarantee tenor such that Bank Guarantee expiry date is extended

beyond 1st July 2022, would require the Respondent to maintain

100% cash margin against the said Bank Guarantee.

4. Accordingly, the present Interim Application is taken out

for permission to provide Corporate guarantee and undertaking to

pay the money, if the Appeal is decided against the Respondent in

lieu of maintaining 100% cash margin against the said Bank

Guarantee. It is noted that the Axis Bank is not a party to the

Interim Application and it would be necessary to join them

considering that they have insisted on 100% cash margin against the

said Bank Guarantee.

5. In view thereof, the Applicant/Original Respondent is

permitted to amend the Interim Application by joining Axis Bank,

which amendment shall be carried out during the course of the day.

Tauseef 2 of 3 904-IA.10041.2022.doc

The Advocate for the Applicant/Original Respondent shall serve

newly joined Axis Bank within a period of one week from today and

file Affidavit of service.

6. The Respondent/Original Applicant is permitted to file

Affidavit-in-reply to the Interim Application, which shall be filed

within a period of one week from today i.e. on or before 8th July

2022.

7. Place the Interim Application on 11 th July 2022, "High on

Board".

                                                  (R. I. CHAGLA, J.)




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