Authority: Calcutta High Court, Commercial Division

Order Date: 15 October 2026

Case Overview

  • Petition filed by New India Assurance Company Limited under Section 36(2) of the Arbitration and Conciliation Act, 1996, seeking a stay of the arbitral award dated 31 March 2026 against Birbhum Shopping Mall Private Limited and another.
  • Respondents, represented by counsel, expressed willingness to secure the award amount of Rs 12,67,09,281.40 by depositing the sum in cash.
  • The Court directed that the cash deposit be made within two weeks after the puja vacation before the Registrar, Original Side, and that the amount be kept in an interest‑bearing fixed deposit with any nationalised bank having an auto‑renewal facility.

Final Outcome

  • Subject to the stipulated deposit, the award dated 31 March 2026 is stayed.
  • The application is disposed of.

Topics: Arbitration Stay, Court Order