Falcon Progress Ltd. vs Sara International Ltd.
2017 Latest Caselaw 5320 Del

$~42

* IN THE HIGH COURT OF DELHI AT NEW DELHI
%                                  Judgment delivered on: 21.09.2017
+        EX.P. 25/2014
FALCON PROGRESS LTD                                           ..... Decree Holder
                                   versus
SARA INTERNATIONAL LTD                              ..... Judgement Debtor
Advocates who appeared in this case:

For the Petitioner          : Ms. Gunika Gupta, Advocate.

For the Respondents         : Ms. Anu Srivastava, Advocate.

CORAM:-
HON'BLE MR JUSTICE SANJEEV SACHDEVA

                               JUDGMENT

21.09.2017

SANJEEV SACHDEVA, J. (ORAL)

EX.P. 25/2014 & Ex.Appl.(OS) 582/2014 (under Section 47 & 48 of the Arbitration & Conciliation Act, 1996 filed on behalf of Judgment Debtor), 260/2017 (under Order XXI Rules 12, 13, 30 & 41 filed on behalf of Decree Holder)

1. By the present petition, the petitioner seeks execution of Final Award dated 22.11.2012.

2. The Judgment Debtor has deposited a sum of Rs.1,33,11,141/- with the Registry of this Court. The Judgment Debtor has also deposited a sum of Rs.96,48,602/- as Tax Deducted at Source (TDS)

on the said amount.

3. Learned Counsel for the Decree Holder submits that on payment of the said amount of Rs.1,33,11,141/- and the deposit of the tax, the Award/Decree dated 22.11.2012 shall stand satisfied.

4. The Registry is directed to release the said amount of Rs.1,33,11,141/- in favour of the Decree Holder.

5. The Judgment Debtor shall also furnish to the Decree Holder certificate under 26AS of the Income Tax Act within the statutory period.

6. In view of the above, satisfaction of Award/Decree dated 22.11.2012 is recorded.

7. The petition is, accordingly disposed of.

SANJEEV SACHDEVA, J SEPTEMBER 21, 2017 st