Itd Itd Cem Joint Venture vs Kolkata Metro Rail Corporation Limited
2025 Latest Caselaw 3165 Cal/2

Calcutta High Court

Itd Itd Cem Joint Venture vs Kolkata Metro Rail Corporation Limited on 25 November, 2025

Author: Rajasekhar Mantha

Bench: Rajasekhar Mantha

OD-2

                                    ORDER SHEET
                           IN THE HIGH COURT AT CALCUTTA
                            CIVIL APPELLATE JURISDICTION
                                    ORIGINAL SIDE




                                  APOT/298/2025
                      IA NO:GA-COM/1/2025, GA-COM/2/2025
                           ITD ITD CEM JOINT VENTURE
                                       -VS-
                    KOLKATA METRO RAIL CORPORATION LIMITED




BEFORE:
The Hon'ble JUSTICE RAJASEKHAR MANTHA
And
The Hon'ble JUSTICE AJAY KUMAR GUPTA
Date: November 25, 2025.




           Mr. J. Saha, Sr. Adv.; Mr. A.K. Ghosh, Adv.; Ms. H. Chakraborty, Adv.; Ms. N.
                                     Chatterjee, Adv.; Ms. A. Bhattacharjee, Adv. appear.

 Mr. J. Chowdhury, Sr. Adv.; Ms. S. Basu Mallick, Adv.; Mr. A. Basu, Adv.; Mr. A. Dey,
                                                   Adv.; Mr. A. Mandal, Adv., appear.



 1.

The Court: GA/1/2025 is an application filed in APOT/298/2025 for stay of the

judgment and order dated October 31, 2025, passed by a Single Bench of this

Court in an application filed under section 34 of the Act of 1996.

2. By reason of the said judgment, the Single Bench has set aside an award passed

by the Arbitral Tribunal in favour of the appellant/contractor.

3. GA/2/2025 is an application filed by the Metro Rail Corporation to seek return of

the cash deposit and bank guarantee furnished by the Corporation to secure the

award.

4. A huge number of documents have been relied upon by the respective parties

both before the Arbitral Tribunal as well as the learned Single Bench.

5. This Court, having heard the learned counsel for the parties, Mr. Jishnu Saha,

Senior Advocate, and Mr. Jishnu Chowdhury, Senior Advocate, respectively, is of

the view that as an interim measure, the appellant-contractor M/S. ITD ITD CEM

JOINT VENTURE shall keep renewed its performance bank guarantee given in aid

of the principal contract awarded by the Metro Rail Corporation until disposal of

the instant appeal.

6. The Metro Rail Corporation shall not invoke the bank guarantee without the

specific leave of this Court.

7. The Metro Rail Corporation, however, having substantial assets within the State

and outside, need not keep bank guarantee and cash deposit to secure the award

any further.

8. The Registrar, Original Side shall return the original bank guarantee and the

cash deposit back to the Metro Rail Corporation together with accrued interest, if

any.

9. The aforesaid order is an interim measure and made strictly without prejudice to

the rights and contentions of either of the parties against one another.

10. Liberty is reserved to the parties to file paper books containing all the pleadings,

evidences and documents as also depositions before the Arbitral Tribunal and the

Single Bench.

11. Mr. Chowdhury submits that he has already prepared the same and is at liberty

to file the same before the Regular Bench.

12. Liberty is reserved to the parties to seek listing of the appeal before the Regular

Bench subject to its business permitting.

(RAJASEKHAR MANTHA, J.)

(AJAY KUMAR GUPTA, J.) tk