IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF MAY, 2017 PRESENT THE HON'BLE MR.SUBHRO KAMAL MUKHERJEE, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.S.DINESH KUMAR WRIT PETITION NO.16868 OF 2017 (GM-RES) BETWEEN M/S. PEBBLE BAY DEVELOPERS PVT LTD A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT RAHEJA CHAMBERS LINKING ROAD, AND MAIN AVENUE SANTACRUZ WEST, MUMBAI-400054 AND REPRESENTED BY ITS DIRECTOR MR. ADITYA RAHEJA (BY SRI AJESH KUMAR S, ADVOCATE) AND 1.M/S. GAMMON INDIA LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS OFFICE AT ‘GAMMON HOUSE’ VEER SAVARKAR MARG, P.O.BOX 9129 PRABHADEVI, MUMBAI-400025 AND REPRESENTED BY ITS V P HEAD WORK SURVEY & AUTHORIZED SIGNATORY MR. J L ASHAR 2.MR. JUSTICE L SREENIVASA REDDY SOLE ARBITRATOR ARBITRATION & CONCILIATION CENTRE NO.49, 3RD FLOOR, KHANIJA BHAVAN RACE COURSE ROAD, BANGALORE-01 ... PETITIONER ... RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE CONDITION OF FURNISHING BANK GUARANTEE IMPOSED IN THE ORDER DATED 11.4.2017 AT ANNEXURE-A IN AN APPLICATION IN A.S.NO.47/2017 PASSED BY THE COURT OF PRINCIPAL CITY CIVIL AND SESSIONS JUDGE, BENGALURU AND ALLOW THE I.A. FILED BY THE PETITIONER UNDER SECTION 36(2) OF THE ARBITRATION AND CONCILIATION ACT, 1996 AS PER ANNEXURE-F.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING THIS DAY, CHIEF JUSTICE MADE THE FOLLOWING:
ORDER The Arbitral Tribunal passed an award on March 10, 2017. The award has been impugned before the Court.
2. An application for stay was moved and the Court below granted stay on the condition that the writ petitioner would furnish bank guarantee to the extent of 50% per centum of the awarded sum.
3. We do not find any merit in the writ petition.
4. The writ petition is, therefore, dismissed.
5. Time to furnish the bank guarantee is, however, extended by three weeks.
6. We make no order as to costs.
Sd/- CHIEF JUSTICE Sd/- JUDGE bkv