In the case of M/s. Balmer Lawrie & Co. Ltd. v. M/s. Shilpi Engineering Pvt. Ltd, the Bombay High Court recently ruled that there exists no distinction in the criteria to be applied by the Court when exercising its discretion in granting a stay of an arbitral award under Section 36(3) of the Arbitration and Conciliation Act, 1996, as opposed to an application for stay under Section 37 of the Act.
The ruling underscores that the prerequisites for obtaining a stay on an arbitral award such as the condition for deposit of 100% of the award will be made applicable, regardless of whether the application is filed during the challenge to the arbitral award under Section 34 or Section 37 of the Act, or in any other circumstance.
Our Counsel Sohil Shah and Associate Nidhi Chaudhary, undertake a detailed analysis of this case in today’s litigation update.
PioneerLegal LawAtPL ArbitrationLaw LegalDiscretion StayApplication Section34 enforcementofaward arbitrationaward bhc bombayhighcourt
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