Bharat Petroleum Corporation Limited vs Haldia Petrochemicals Ltd
2025 Latest Caselaw 2322 Cal/2

Calcutta High Court

Bharat Petroleum Corporation Limited vs Haldia Petrochemicals Ltd on 29 August, 2025

Author: Arijit Banerjee

Bench: Arijit Banerjee

OCD-1
                              ORDER SHEET

                              APOT/212/2025
                                  WITH
                               AP/338/2022

                         IA NO: GA-COM/1/2025

                   IN THE HIGH COURT AT CALCUTTA
                      Commercial Appellate Division
                            ORIGINAL SIDE


              BHARAT PETROLEUM CORPORATION LIMITED
                               VS
                   HALDIA PETROCHEMICALS LTD.



  BEFORE:
  The Hon'ble JUSTICE ARIJIT BANERJEE
                 AND
  The Hon'ble JUSTICE OM NARAYAN RAI
  Date : August 29, 2025.

                                                                        Appearance:
                                                           Mr. Jaydip Kar, Sr. Adv.
                                                        Mr. Siddhartha Datta, Adv.
                                                        Ms. Trisha Mukherjee, Adv.
                                                        Mr. Chetan Kr. Kabra, Adv.
                                                                 ..for the appellant

                                              Mr. Sabyasachi Chowdhury, Sr. Adv.
                                                          Mr. Rajarshi Dutta, Adv.
                                                     Mr. Shounak Mukherjee, Adv.
                                                         Mr. Debargha Basu, Adv.
                                                              ..for the respondents


                      Dictated by Arijit Banerjee, J.

The Court: This appeal is directed against a judgment and order

dated June 19, 2025, whereby a learned Judge of this Court dismissed the

appellant's application under Section 34 of the Arbitration and Conciliation

Act, 1996 being AP/338/2022, for setting aside an arbitral award. The

appeal has to be heard out.

Let the appellant prepare requisite number of informal paper-books

incorporating therein all papers that were available before the learned Single

Judge.

All formalities are dispensed with.

Since the respondent is represented through learned Counsel,

notice of appeal is deemed to be waived.

We are told that at the Section 34 application stage, the appellant

which was the petitioner before the learned Single Judge had furnished

security in the sum of Rs.15,65,50,000/- by way of bank guarantee. That

was the approximate amount that was due to the respondent herein under

the award at that stage.

Today, the respondent says that the amount due is approximately

Rs.18.83 crore.

In view of the law that prevails today, the appellant should secure

the balance amount also.

The appellant shall furnish a further bank guarantee for the sum

of Rs.3.35 crore within a fortnight from date.

There will be an unconditional stay of the award for a period of a

fortnight from date. In the event the bank guarantee for Rs.3.35 crore is

furnished within that period, the order of stay shall continue till the disposal

of the appeal.

List the appeal under the appropriate heading fairly at the top on

October 27, 2025.

The application being GA-COM/1/2025 is disposed of.

However, a copy of the application shall be included in the informal

paper-book for the sake of convenience.

(ARIJIT BANERJEE, J.)

(OM NARAYAN RAI, J.)

sg.