Larsen & Toubro Limited v. Indian Oil Corporation Ltd

Delhi High Court · 01 Jun 2018 · 2018:DHC:3713
Navin Chawla
O.M.P. (ENF)(COMM.) 128/2017
2018:DHC:3713
arbitration appeal_dismissed

AI Summary

The Delhi High Court dismissed the challenge to the arbitral award under Section 34 and ordered enforcement with return of bank guarantee after six weeks.

Full Text
Translation output
OMP(ENF.)(COMM.) 128/2017 Page 1
HIGH COURT OF DELHI
O.M.P. (ENF)(COMM.) 128/2017 & IA 12252/2017
Reserved on: 7th March, 2018
Date of Decision: 1st June, 2018 LARSEN & TOUBRO LIMITED ..... Decree Holder
Through Mr.Dhirendra Negi, Adv.
VERSUS
INDIAN OIL CORPORATION LTD .....
JUDGMENT
Debtor
Through Mr.Abhinav Tandon, Adv.
CORAM:
HON'BLE MR. JUSTICE NAVIN CHAWLA In view of the detailed order passed today in OMP(Comm.)
No.366/2017 dismissing the petition under Section 34 of the Arbitration and Conciliation Act, 1996 filed by the Judgment Debtor challenging the
Arbitral Award dated 18.05.2017, the bank guarantee given by the
Decree Holder for release of the amount deposited by the Judgment
Debtor shall be returned in original after the expiry of six weeks from today. Remaining amount which is payable under the Arbitral Award shall be paid by the Judgment Debtor to the Decree Holder within a period of six weeks from today.
List on 27th July, 2018.
NAVIN CHAWLA, J JUNE 01, 2018 2018:DHC:3713