w w w . L a w y e r S e r v i c e s . i n



Oriental Insurance Co Ltd v/s Happy Homes Hotels Pvt Ltd.


Company & Directors' Information:- THE ORIENTAL INSURANCE COMPANY LIMITED [Active] CIN = U66010DL1947GOI007158

Company & Directors' Information:- ORIENTAL HOTELS LIMITED [Active] CIN = L55101TN1970PLC005897

Company & Directors' Information:- J HOTELS PRIVATE LIMITED [Active] CIN = U55101TN1998PTC040526

Company & Directors' Information:- HAPPY HOMES & HOTELS PVT LTD [Active] CIN = U55101WB1982PTC034904

Company & Directors' Information:- V HOTELS LIMITED [Active] CIN = U55204MH2000PLC128527

Company & Directors' Information:- M HOTELS PRIVATE LIMITED [Active] CIN = U55100MH2005PTC157642

Company & Directors' Information:- N-HOMES PRIVATE LIMITED [Active] CIN = U45400UP2013PTC056395

Company & Directors' Information:- THE ORIENTAL COMPANY LIMITED [Active] CIN = U67120WB1935PLC094079

Company & Directors' Information:- ORIENTAL COMPANY LIMITED [Not available for efiling] CIN = U70101RJ1935ULL000047

Company & Directors' Information:- HAPPY HOMES PVT LTD [Strike Off] CIN = U70100WB1954PTC021683

Company & Directors' Information:- M HOTELS PRIVATE LIMITED [Active] CIN = U55101TG2010PTC067252

Company & Directors' Information:- HAPPY HOMES INDIA PRIVATE LIMITED [Strike Off] CIN = U70109TN2009PTC071265

Company & Directors' Information:- J HOMES PRIVATE LIMITED [Strike Off] CIN = U45200TZ2012PTC018247

Company & Directors' Information:- V HAPPY HOMES INDIA PRIVATE LIMITED [Strike Off] CIN = U45200PY2008PTC002190

Company & Directors' Information:- ORIENTAL CORPN PVT LTD [Active] CIN = U51909GJ1937PTC000133

Company & Directors' Information:- HOTELS AND HOMES PRIVATE LIMITED [Strike Off] CIN = U55101RJ2012PTC038884

Company & Directors' Information:- A.T. HOTELS PRIVATE LIMITED [Strike Off] CIN = U55101GJ2008PTC052847

Company & Directors' Information:- I.N. INSURANCE COMPANY PRIVATE LIMITED [Strike Off] CIN = U67200DL1994PTC062554

Company & Directors' Information:- HAPPY HOMES PRIVATE LIMITED [Strike Off] CIN = U45201GJ1991PTC015885

    AP. No. 442 of 2018

    Decided On, 23 July 2018

    At, High Court of Judicature at Calcutta

    By, THE HONOURABLE MR. JUSTICE ASHIS KUMAR CHAKRABORTY

    For the Petitioner: Shuvasis Sengupta, Rajesh Singh, Balarko Sen, Advocates. For the Respondent: K.R. Thakkar, Chayan Gupta, Advocates.



Judgment Text

The Court : In this application under Section 34 of the Arbitration & Conciliation Act, 1996 (in short, "the Act of 1996"), the petitioner insurance company has challenged the award dated March 30, 2018 made by the sole Arbitrator directing it to pay Rs.1,77,68,434/- along with interest at the rate of 7% per annum from January 5, 2009 till March 31, 2018. The petitioner has also prayed for stay of operation of the said award made by the learned Arbitrator.

In the present case, though the arbitral proceeding commenced before October 23, 2015 but in view of the decision of the Supreme Court in the case of Board of Control for Cricket in India – versus- Kochi Cricket Pvt. Ltd. reported in (2018) 6 SCC 287, the provisions incorporated by subsections (3) and (4) of Section 36 of the Act of 1996 in order to obtain stay of operation of the award passed by the learned sole Arbitrator, the petitioner is required to furnish security for the amount awarded against it.

The petitioner is an insurance company wholly owned by the Government of India. Accordingly, the petitioner is directed to furnish a bank guarantee of the principal awarded amount of Rs.1,77,68,434/- to the Registrar, Original Side of this Court within August 17, 2018 initially for a period of one year and to keep the same renewed from time to time until disposal of this application.

There shall be an unconditional stay of operation of the impugned award passed by the learned Arbitrator till August 20, 2018.

It is, however, made clear that in the event of any default on the part of the petitioner to furnish the above bank guarantee to the Registrar, Original Side within the time stipulated above, the respondent will be free to execute the arbitral award.

Let the application, AP No.442 of 2018 appear, under the heading ‘Arbitration Motion (Adjourned) Section 34’, in the monthly list of September 2018. In the meantime, the parties will be free to file informal paper books

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disclosing records of the arbitral proceeding. Urgent certified website copies of this order, if applied for, be made available to the parties subject to compliance with all requisite formalities.
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