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SEPCO Electric Power Construction Corporation v/s Power Mech Projects Ltd.


Company & Directors' Information:- C AND C PROJECTS LIMITED [Active] CIN = U74999HR2007PLC036644

Company & Directors' Information:- L & W CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201KA2006PTC039095

Company & Directors' Information:- Y K M PROJECTS PRIVATE LIMITED [Active] CIN = U40109TG2008PTC057263

Company & Directors' Information:- POWER MECH PROJECTS LIMITED [Active] CIN = L74140TG1999PLC032156

Company & Directors' Information:- T G R PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45200KA2012PTC062702

Company & Directors' Information:- N H CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2006PTC144604

Company & Directors' Information:- THE J & K PROJECTS CONSTRUCTION CORPORATION LIMITED [Active] CIN = U45205JK1965SGC000296

Company & Directors' Information:- S G PROJECTS LIMITED [Active] CIN = U65999WB1990PLC049684

Company & Directors' Information:- B C C PROJECTS PVT LTD [Active] CIN = U74899DL2001PTC112102

Company & Directors' Information:- J K S PROJECTS LIMITED [Active] CIN = U45400WB2011PLC157565

Company & Directors' Information:- G & W ELECTRIC COMPANY INDIA PRIVATE LIMITED. [Active] CIN = U31403DL2007FTC165423

Company & Directors' Information:- C S CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201DL2005PTC140236

Company & Directors' Information:- D M P PROJECTS PVT LTD [Active] CIN = U27109WB2006PTC107513

Company & Directors' Information:- T & T PROJECTS LIMITED [Active] CIN = U45201AS2008PLC008641

Company & Directors' Information:- W AND W PROJECTS PRIVATE LIMITED [Active] CIN = U65910DL1989PTC036754

Company & Directors' Information:- E M C PROJECTS PVT LTD [Active] CIN = U29248WB1964PTC026261

Company & Directors' Information:- N T POWER PROJECTS ( INDIA ) PRIVATE LIMITED [Active] CIN = U40300TG2015PTC099992

Company & Directors' Information:- H AND V PROJECTS PRIVATE LIMITED [Active] CIN = U72400DL2011PTC220047

Company & Directors' Information:- M A PROJECTS PRIVATE LIMITED [Active] CIN = U70101DL2005PTC135093

Company & Directors' Information:- ELECTRIC CORPORATION OF INDIA LIMITED [Amalgamated] CIN = U40101WB1997PLC084154

Company & Directors' Information:- S D CONSTRUCTION PVT LTD [Active] CIN = U45209WB1993PTC058947

Company & Directors' Information:- S. V. S. PROJECTS PRIVATE LIMITED [Active] CIN = U70100AP1998PTC029024

Company & Directors' Information:- M V PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U45202KA2008PTC045272

Company & Directors' Information:- S V S PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45200AP2015PTC096787

Company & Directors' Information:- A T E PROJECTS PRIVATE LIMITED [Active] CIN = U74999DL1999PTC102246

Company & Directors' Information:- U W T PROJECTS LIMITED [Active] CIN = U45200AP2004PLC043198

Company & Directors' Information:- M K R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2003PTC121828

Company & Directors' Information:- J J PROJECTS PVT LTD [Active] CIN = U24231WB1986PTC040246

Company & Directors' Information:- R K CONSTRUCTION PVT LTD [Strike Off] CIN = U00500BR1984PTC001953

Company & Directors' Information:- Z H PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400WB2012PTC184307

Company & Directors' Information:- K & J PROJECTS PRIVATE LIMITED [Active] CIN = U45203MH2004PTC150165

Company & Directors' Information:- T D CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U70101AS2002PTC006719

Company & Directors' Information:- T & I PROJECTS LTD [Active] CIN = L29130WB1984PLC038232

Company & Directors' Information:- M I A CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45204DL2013PTC248344

Company & Directors' Information:- H N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200JH2007PTC012923

Company & Directors' Information:- L V CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201UP1998PTC023382

Company & Directors' Information:- B 2 R PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2013PTC189971

Company & Directors' Information:- C M PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC130580

Company & Directors' Information:- A G L CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400WB2008PTC126885

Company & Directors' Information:- C. K. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U00501BR1990PTC003909

Company & Directors' Information:- N G PROJECTS LIMITED [Active] CIN = U45201GJ2003PLC042152

Company & Directors' Information:- E AND C PROJECTS PRIVATE LIMITED [Active] CIN = U29150DL2002PTC115297

Company & Directors' Information:- CONSTRUCTION INDIA PVT LTD [Active] CIN = U45201GJ1979PTC003375

Company & Directors' Information:- B. D. R. PROJECTS PRIVATE LIMITED [Active] CIN = U45202TG1998PTC028780

Company & Directors' Information:- H R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201UP2002PTC026867

Company & Directors' Information:- J T L PROJECTS PRIVATE LIMITED [Active] CIN = U70101KL2006PTC019439

Company & Directors' Information:- M B N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70101AS2004PTC007322

Company & Directors' Information:- V K B S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1989PTC035435

Company & Directors' Information:- V AND S PROJECTS PRIVATE LIMITED [Active] CIN = U70109DL1996PTC079487

Company & Directors' Information:- L S R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U07010KA2005PTC036041

Company & Directors' Information:- V R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400AP2007PTC054901

Company & Directors' Information:- D C R PROJECTS PRIVATE LIMITED [Active] CIN = U45209TG2007PTC056307

Company & Directors' Information:- N J CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70102WB2012PTC186978

Company & Directors' Information:- J P R ELECTRIC POWER COMPANY PRIVATE LIMITED [Strike Off] CIN = U31908DL1995ULT074208

Company & Directors' Information:- R. R. PROJECTS PVT LTD [Active] CIN = U45200TG1982PTC003711

Company & Directors' Information:- S H PROJECTS PRIVATE LIMITED [Active] CIN = U74996DL2006PTC149971

Company & Directors' Information:- C S R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060034

Company & Directors' Information:- S R PROJECTS INDIA PVT LTD [Active] CIN = U45207WB1981PTC033286

Company & Directors' Information:- L E PROJECTS PRIVATE LIMITED [Active] CIN = U45303WB2005PTC102555

Company & Directors' Information:- M. S. PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2009PTC131902

Company & Directors' Information:- J V PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC069037

Company & Directors' Information:- B N PROJECTS PRIVATE LIMITED [Active] CIN = U45201GJ2009PTC058067

Company & Directors' Information:- T M G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203UP2000PTC025597

Company & Directors' Information:- C D S CONSTRUCTION CO PVT LTD [Active] CIN = U45200MH1982PTC026703

Company & Directors' Information:- SEPCO ELECTRIC POWER CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U31908MH2010FTC211570

Company & Directors' Information:- J P PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB2011PTC165990

Company & Directors' Information:- R K PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC043660

Company & Directors' Information:- A B PROJECTS PRIVATE LIMITED [Active] CIN = U45200MH2004PTC149404

Company & Directors' Information:- P J CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201AS2000PTC006365

Company & Directors' Information:- A R C CONSTRUCTION PVT LTD [Active] CIN = U45202MH1996PTC096950

Company & Directors' Information:- N B S A M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2005PTC143267

Company & Directors' Information:- J M D CONSTRUCTION PVT LTD [Strike Off] CIN = U70101WB1993PTC057456

Company & Directors' Information:- A K PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201TG1996PTC023179

Company & Directors' Information:- S N M PROJECTS PRIVATE LIMITED [Active] CIN = U70102UP2010PTC040243

Company & Directors' Information:- S R K CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45200BR1998PTC008483

Company & Directors' Information:- V & C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1992PTC049012

Company & Directors' Information:- S B CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203OR1994PTC003672

Company & Directors' Information:- O A CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45203AR2005PTC007930

Company & Directors' Information:- J AND H PROJECTS PRIVATE LIMITED [Active] CIN = U45200GJ2013PTC074010

Company & Directors' Information:- N S PROJECTS PRIVATE LIMITED [Active] CIN = U70101WB2007PTC117882

Company & Directors' Information:- H S PROJECTS PRIVATE LIMITED [Active] CIN = U45208DL2006PTC153706

Company & Directors' Information:- N M PROJECTS PRIVATE LIMITED [Active] CIN = U29219DL2009PTC186728

Company & Directors' Information:- K. V. PROJECTS PRIVATE LIMITED [Active] CIN = U70102WB2012PTC188439

Company & Directors' Information:- J C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203AS1999PTC005975

Company & Directors' Information:- N A CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH2009PTC192764

Company & Directors' Information:- N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2006PTC146888

Company & Directors' Information:- V. K. CONSTRUCTION COMPANY PVT. LTD. [Active] CIN = U45102WB1991PTC050570

Company & Directors' Information:- M M CONSTRUCTION PVT LTD [Strike Off] CIN = U45200GJ1995PTC027508

Company & Directors' Information:- P. L. G. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2007PTC171110

Company & Directors' Information:- K R S PROJECTS PRIVATE LIMITED [Active] CIN = U70102AP2012PTC082232

Company & Directors' Information:- B S C PROJECTS PRIVATE LIMITED [Active] CIN = U45200DL2011PTC227768

Company & Directors' Information:- L AND C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201KA2001PTC028456

Company & Directors' Information:- J K PROJECTS PRIVATE LIMITED [Active] CIN = U45203GJ2001PTC039576

Company & Directors' Information:- F C C PROJECTS PRIVATE LIMITED [Active] CIN = U29248UP1982PTC005786

Company & Directors' Information:- S N PROJECTS LIMITED [Active] CIN = U85110KA1996PLC021040

Company & Directors' Information:- B. D. PROJECTS PRIVATE LIMITED [Amalgamated] CIN = U45400WB2010PTC147620

Company & Directors' Information:- C & I PROJECTS PRIVATE LIMITED [Active] CIN = U29100DL2010PTC209136

Company & Directors' Information:- C & I PROJECTS PRIVATE LIMITED [Active] CIN = U74140DL2010PTC209136

Company & Directors' Information:- C R CONSTRUCTION PVT LTD [Active] CIN = U45209WB1960PTC024811

Company & Directors' Information:- C B PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB1997PTC085237

Company & Directors' Information:- G G PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL1998PTC091501

Company & Directors' Information:- V M G PROJECTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45400WB2011PTC164117

Company & Directors' Information:- J S CONSTRUCTION PVT LTD [Active] CIN = U45201OR1981PTC000921

Company & Directors' Information:- M. L. PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2010PTC151513

Company & Directors' Information:- R N D PROJECTS PRIVATE LIMITED [Active] CIN = U70102DL1996PTC080051

Company & Directors' Information:- S H A CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202DL1996PTC076831

Company & Directors' Information:- M. K. N. PROJECTS PRIVATE LIMITED [Active] CIN = U70101DL2009PTC196755

Company & Directors' Information:- M B R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45300KA2009PTC049005

Company & Directors' Information:- I T ELECTRIC PVT LTD [Strike Off] CIN = U31901TN1978PTC007643

Company & Directors' Information:- G S P PROJECTS PRIVATE LIMITED [Active] CIN = U45201WB1992PTC057116

Company & Directors' Information:- K P S PROJECTS PRIVATE LIMITED [Active] CIN = U70102TG2005PTC046280

Company & Directors' Information:- A TO Z MECH (INDIA) PRIVATE LIMITED [Active] CIN = U74999PN2006PTC128478

Company & Directors' Information:- S N S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45204HR2009PTC039160

Company & Directors' Information:- A V M CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202GJ2007PTC050521

Company & Directors' Information:- E AND V PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70102TG2004PTC042622

Company & Directors' Information:- T M R PROJECTS PRIVATE LIMITED [Active] CIN = U45400DL2010ULT211007

Company & Directors' Information:- S C T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201DL2008PTC184418

Company & Directors' Information:- M P J CONSTRUCTION (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45400HR2011PTC044433

Company & Directors' Information:- A H CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201TN1990PTC019675

Company & Directors' Information:- P A PROJECTS PRIVATE LIMITED [Active] CIN = U45208WB1997PTC083907

Company & Directors' Information:- A R S S V CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45202UR2020PTC011198

Company & Directors' Information:- A D CONSTRUCTION CO PRIVATE LIMITED [Strike Off] CIN = U45201UP1984PTC006464

Company & Directors' Information:- G V G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70102TN2009PTC072766

Company & Directors' Information:- N K D PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2008PTC128819

Company & Directors' Information:- A I PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45203WB2000PTC091229

Company & Directors' Information:- D G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70102JH2012PTC000717

Company & Directors' Information:- H AND R PROJECTS CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201JH2015PTC003300

Company & Directors' Information:- P N PROJECTS PRIVATE LIMITED [Active] CIN = U45202DL2016PTC289494

Company & Directors' Information:- H S POWER PROJECTS PRIVATE LIMITED [Active] CIN = U31909DL2003PTC121326

Company & Directors' Information:- N. B. Y. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201HR2019PTC079172

Company & Directors' Information:- V AND M PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL2005PTC139731

Company & Directors' Information:- K K PROJECTS PVT LTD [Strike Off] CIN = U70200WB1995PTC073058

Company & Directors' Information:- J B F CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45200JK2008PTC002952

Company & Directors' Information:- K R P CONSTRUCTION PVT LTD [Active] CIN = U45200MH1989PTC053580

Company & Directors' Information:- R S M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2005PTC142245

Company & Directors' Information:- S L PROJECTS PRIVATE LIMITED [Active] CIN = U45400AN2009PTC000109

Company & Directors' Information:- R & S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201BR2012PTC018727

Company & Directors' Information:- B M S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70101WB2006PTC110196

Company & Directors' Information:- E H CONSTRUCTION CO PVT LTD [Active] CIN = U45209WB1984PTC037174

Company & Directors' Information:- PROJECTS PVT LTD [Strike Off] CIN = U45201WB1951PTC019759

Company & Directors' Information:- N AND K CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45500CT2020PTC010948

Company & Directors' Information:- A C K CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45203PN2002PTC017065

Company & Directors' Information:- D. M. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U74140WB2000PTC091230

Company & Directors' Information:- B I ELECTRIC COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1990PTC039350

Company & Directors' Information:- B M CONSTRUCTION CO PVT LTD [Strike Off] CIN = U70101WB1987PTC043414

Company & Directors' Information:- V K M PROJECTS PRIVATE LIMITED [Active] CIN = U45400UP2011PTC045725

Company & Directors' Information:- K P PROJECTS PVT LTD [Active] CIN = U70101WB1996PTC077397

Company & Directors' Information:- S K L CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201OR2012PTC016144

Company & Directors' Information:- C R PROJECTS PRIVATE LIMITED [Active] CIN = U45400PB2009PTC032572

Company & Directors' Information:- N D B K PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U27100PB2012PTC036987

Company & Directors' Information:- N P R PROJECTS INDIA PRIVATE LIMITED [Strike Off] CIN = U45400TN2012PTC086360

Company & Directors' Information:- G P N PROJECTS PRIVATE LIMITED [Strike Off] CIN = U18101TZ2006PTC012749

Company & Directors' Information:- P D CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201MH2007PTC171650

Company & Directors' Information:- D H V PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45200TG2005PTC045988

Company & Directors' Information:- V K R PROJECTS PRIVATE LIMITED [Active] CIN = U45200TG2005PTC046370

Company & Directors' Information:- A M CONSTRUCTION P LTD. [Active] CIN = U99999WB1990PTC050255

Company & Directors' Information:- I N C PROJECTS PRIVATE LIMITED [Active] CIN = U70109WB2005PTC101620

Company & Directors' Information:- J. S. PROJECTS PRIVATE LIMITED [Active] CIN = U45400WB2009PTC136510

Company & Directors' Information:- Z. K. CONSTRUCTION PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400WB2013PTC190344

Company & Directors' Information:- P B S CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201WB2004PTC099367

Company & Directors' Information:- J B M CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45209WB2008PTC124938

Company & Directors' Information:- S. Z. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74999WB2011PTC163934

Company & Directors' Information:- P K S CONSTRUCTION CO PRIVATE LIMITED [Active] CIN = U45200HP2004PTC027694

Company & Directors' Information:- H D G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1988PTC032183

Company & Directors' Information:- S R B CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2004PTC130817

Company & Directors' Information:- D J PROJECTS PRIVATE LIMITED [Active] CIN = U15201DL2005PTC134979

Company & Directors' Information:- M S C K PROJECTS PRIVATE LIMITED [Converted to LLP] CIN = U70101DL2005PTC135407

Company & Directors' Information:- N T C CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201KL2001PTC014853

Company & Directors' Information:- S. P. CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U70100WB2019PTC233077

Company & Directors' Information:- S A M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200HR2020PTC088988

Company & Directors' Information:- C S CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U45200MH2020PTC346811

Company & Directors' Information:- G B CONSTRUCTION COMPANY PVT LTD [Strike Off] CIN = U74210PB1995PTC016038

Company & Directors' Information:- B R T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45203TG1996PTC025021

Company & Directors' Information:- S M POWER PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40101KA2007PTC043140

Company & Directors' Information:- T AND M PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201KA2008PTC045199

Company & Directors' Information:- A K CONSTRUCTION CO PVT LTD [Active] CIN = U45400WB1983PTC035682

Company & Directors' Information:- D. D. A. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201JH2008PTC013043

Company & Directors' Information:- K. G. G. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400MN2010PTC008256

Company & Directors' Information:- M R K POWER PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40108TG2009PTC064610

Company & Directors' Information:- A C G PROJECTS PRIVATE LIMITED [Active] CIN = U45201UP1999PTC024162

Company & Directors' Information:- C K B PROJECTS INDIA LIMITED [Strike Off] CIN = U70102WB2012PLC188740

Company & Directors' Information:- N E PROJECTS LTD [Strike Off] CIN = U16009AS1999PLC005873

Company & Directors' Information:- G N B B CONSTRUCTION PRIVATE LIMITED [Active] CIN = U70101AS2004PTC007418

Company & Directors' Information:- H. N. D. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200JH2011PTC015162

Company & Directors' Information:- D R PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL2001PTC109612

Company & Directors' Information:- M E CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45200DL2007PTC171643

Company & Directors' Information:- I J PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70102KA2009PTC049320

Company & Directors' Information:- G C N PROJECTS PRIVATE LIMITED [Active] CIN = U45200KA2011PTC061371

Company & Directors' Information:- C S COMPANY CONSTRUCTION LIMITED [Active] CIN = U45201KL1997PLC011174

Company & Directors' Information:- L K I CONSTRUCTION PVT LTD [Active] CIN = U70101WB1993PTC058304

Company & Directors' Information:- L N PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45200TG2004PTC043064

Company & Directors' Information:- V B S POWER PROJECTS PRIVATE LIMITED [Active] CIN = U40101HP2007PTC030760

Company & Directors' Information:- S K CONSTRUCTION PVT LTD [Active] CIN = U45201WB1994PTC065714

Company & Directors' Information:- H B PROJECTS PVT LTD [Amalgamated] CIN = U45201WB1993PTC058846

Company & Directors' Information:- I. T. G PROJECTS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC063342

Company & Directors' Information:- D T M CONSTRUCTION PVT LTD [Active] CIN = U45201WB1978PTC031730

Company & Directors' Information:- D L CONSTRUCTION PVT LTD [Strike Off] CIN = U45400WB1982PTC035570

Company & Directors' Information:- S V G CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1994PTC055629

Company & Directors' Information:- M N P CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH1980PTC022351

Company & Directors' Information:- A H A CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400UP2010PTC040773

Company & Directors' Information:- S T S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U60109WB1996PTC081825

Company & Directors' Information:- J J CONSTRUCTION PVT. LTD [Strike Off] CIN = U45200WB1989PTC046714

Company & Directors' Information:- P. S. PROJECTS PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U70109WB2011PTC170655

Company & Directors' Information:- D P CONSTRUCTION PVT LTD [Strike Off] CIN = U70101WB1987PTC042320

Company & Directors' Information:- B B G CONSTRUCTION PVT LTD [Strike Off] CIN = U45201WB1993PTC059618

Company & Directors' Information:- G S CONSTRUCTION PVT LTD [Strike Off] CIN = U45201WB1994PTC063238

Company & Directors' Information:- P S S S K CONSTRUCTION CO PVT LTD [Strike Off] CIN = U45201WB2006PTC107993

Company & Directors' Information:- S E CONSTRUCTION PVT LTD [Strike Off] CIN = U45202WB1988PTC044630

Company & Directors' Information:- H K CONSTRUCTION PVT LTD [Active] CIN = U45201GJ1981PTC004160

Company & Directors' Information:- A V CONSTRUCTION CO PVT LTD [Active] CIN = U45202PB1982PTC004971

Company & Directors' Information:- G N CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202OR2000PTC006244

Company & Directors' Information:- D P T CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45202MH2001PTC131559

Company & Directors' Information:- A R N PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45202MH2010PTC199122

Company & Directors' Information:- K M M POWER PROJECTS PRIVATE LIMITED [Active] CIN = U40101UR2008PTC032741

Company & Directors' Information:- K A J POWER PROJECTS PRIVATE LIMITED [Active] CIN = U40105UR2008PTC032742

Company & Directors' Information:- J CONSTRUCTION INDIA PRIVATE LIMITED [Active] CIN = U45200TZ2012PTC018250

Company & Directors' Information:- H. K. PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400WB2007PTC116467

Company & Directors' Information:- N B S D CONSTRUCTION PVT. LTD. [Strike Off] CIN = U45201WB1993PTC058364

Company & Directors' Information:- D M C PROJECTS PRIVATE LIMITED [Strike Off] CIN = U74140WB2005PTC105972

Company & Directors' Information:- S K E CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45202JH2012PTC000666

Company & Directors' Information:- S P PROJECTS (INDIA) PRIVATE LIMITED [Active] CIN = U45400DL2010PTC203910

Company & Directors' Information:- A K G CONSTRUCTION PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U45201DL2005PTC134347

Company & Directors' Information:- L J CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL2005PTC142321

Company & Directors' Information:- R H P CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45203MP2001PTC014739

Company & Directors' Information:- J R PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70109HR2012PTC045119

Company & Directors' Information:- J J POWER PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40108KA2009PTC050480

Company & Directors' Information:- C N R PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45201KA2007PTC041355

Company & Directors' Information:- J Y R PROJECTS PRIVATE LIMITED [Active] CIN = U70109TG2021PTC153917

Company & Directors' Information:- R AND M CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45202UP1994PTC017286

Company & Directors' Information:- B AND R CONSTRUCTION PVT LTD [Strike Off] CIN = U45201AS1990PTC003431

Company & Directors' Information:- J K CONSTRUCTION PVT LTD [Strike Off] CIN = U74210OR1987PTC001858

Company & Directors' Information:- B T CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U70101WB1997PTC085448

Company & Directors' Information:- P V CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U70100DL1998PTC097116

Company & Directors' Information:- M T CONSTRUCTION PVT LTD [Strike Off] CIN = U26933OR1985PTC001496

Company & Directors' Information:- A K CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U29248UR1982PTC005795

Company & Directors' Information:- POWER PROJECTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U31101DD1995PTC001793

Company & Directors' Information:- P B CONSTRUCTION (INDIA) LIMITED [Strike Off] CIN = U01131TN1995PLC032650

Company & Directors' Information:- A J PROJECTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U45201MH2006PTC164622

Company & Directors' Information:- S K P CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201CT2008PTC020585

Company & Directors' Information:- A P G CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45400DL2007PTC168160

Company & Directors' Information:- B. CONSTRUCTION PVT. LTD. [Strike Off] CIN = U00894BR1989PTC003616

Company & Directors' Information:- Y S K CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2005PTC134417

Company & Directors' Information:- P K A S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U74899DL2005PTC138117

Company & Directors' Information:- J M PROJECTS PRIVATE LIMITED [Active] CIN = U45200MP2007PTC019336

Company & Directors' Information:- R G M CONSTRUCTION PRIVATE LIMITED [Under Process of Striking Off] CIN = U45200BR1992PTC004863

Company & Directors' Information:- A TO Z CONSTRUCTION CO PRIVATE LTD [Strike Off] CIN = U70101DL1987PTC029674

Company & Directors' Information:- O S CONSTRUCTION PVT LTD [Strike Off] CIN = U00351JH1990PTC003764

Company & Directors' Information:- D I CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1994PTC061454

Company & Directors' Information:- S D R ELECTRIC PRIVATE LIMITED [Strike Off] CIN = U40101AP2015PTC096021

Company & Directors' Information:- P N CONSTRUCTION PRIVATE LIMITED [Converted to LLP] CIN = U45201DL2003PTC122894

Company & Directors' Information:- S S POWER CONSTRUCTION CO PVT LTD [Strike Off] CIN = U31909WB1972PTC028554

Company & Directors' Information:- A + E CONSTRUCTION PRIVATE LIMITED [Active] CIN = U74899DL1990PTC042290

Company & Directors' Information:- S N CONSTRUCTION PVT LTD [Strike Off] CIN = U45203OR1983PTC001211

Company & Directors' Information:- L S S PROJECTS PRIVATE LIMITED [Active] CIN = U45400UP2013PTC059508

Company & Directors' Information:- A TO Z PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70101DL1995PTC069527

Company & Directors' Information:- G I T T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201TG2006PTC051193

Company & Directors' Information:- P N R CONSTRUCTION PVT LTD [Strike Off] CIN = U99999MH2006PTC158802

Company & Directors' Information:- J. K. D. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45209PB2009PTC033102

Company & Directors' Information:- Z & I PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45309TN2007PTC064972

Company & Directors' Information:- B H CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH2009PTC193976

Company & Directors' Information:- K L G CONSTRUCTION INDIA PRIVATE LIMITED [Strike Off] CIN = U45201MH2015PTC264933

Company & Directors' Information:- J W CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400MH2010PTC198916

Company & Directors' Information:- B. G. PROJECTS PRIVATE LIMITED [Active] CIN = U45400MH2012PTC231270

Company & Directors' Information:- U N CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400PN2014PTC150730

Company & Directors' Information:- G T K CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45200MH1996PTC096261

Company & Directors' Information:- J B CONSTRUCTION PVT LTD [Strike Off] CIN = U45200MH2004PTC025668

Company & Directors' Information:- U S CONSTRUCTION AND COMPANY PRIVATE LIMITED [Strike Off] CIN = U45200MH2004PTC149583

Company & Directors' Information:- P S R PROJECTS INDIA PRIVATE LIMITED [Active] CIN = U45400TG2015PTC101191

Company & Directors' Information:- T & D ELECTRIC PRIVATE LIMITED [Strike Off] CIN = U31908TN2012PTC085880

Company & Directors' Information:- L B L ELECTRIC PRIVATE LIMITED [Active] CIN = U31200TZ2005PTC012138

Company & Directors' Information:- E & E PROJECTS PRIVATE LIMITED [Active] CIN = U45400UP2015PTC075033

Company & Directors' Information:- N T POWER PROJECTS PRIVATE LIMITED [Under Process of Striking Off] CIN = U40102TG2015PTC098830

Company & Directors' Information:- B B R PROJECTS PRIVATE LIMITED [Active] CIN = U45200TG2005PTC045165

Company & Directors' Information:- M V R PROJECTS PRIVATE LIMITED [Active] CIN = U45200TG2005PTC045166

Company & Directors' Information:- L V S PROJECTS PRIVATE LIMITED [Under Process of Striking Off] CIN = U45200TG2010PTC068286

Company & Directors' Information:- R M J CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U70102UP2010PTC040949

Company & Directors' Information:- R N V PROJECTS PRIVATE LIMITED [Active] CIN = U70102UP2011PTC044240

Company & Directors' Information:- R P POWER PROJECTS PRIVATE LIMITED [Strike Off] CIN = U74900UP2009PTC038185

Company & Directors' Information:- M V CONSTRUCTION COMPANY PVT LTD [Strike Off] CIN = U45400WB1967PTC011413

Company & Directors' Information:- A P L CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45209HP2010PTC031395

Company & Directors' Information:- H AND K CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U70200HP2014PTC000633

Company & Directors' Information:- K L PROJECTS PRIVATE LIMITED [Active] CIN = U27104DL2003PTC119655

Company & Directors' Information:- K & K ELECTRIC COMPANY PRIVATE LIMITED [Converted to LLP] CIN = U31401DL2007PTC164880

Company & Directors' Information:- I. A. A. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45204DL2011PTC220447

Company & Directors' Information:- R M D CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2008PTC185164

Company & Directors' Information:- A R M CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2008PTC185770

Company & Directors' Information:- K S M PROJECTS PRIVATE LIMITED [Active] CIN = U45400DL2009PTC194824

Company & Directors' Information:- G-5 CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2014PTC265907

Company & Directors' Information:- U P CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2014PTC271791

Company & Directors' Information:- V 2 S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2014PTC273750

Company & Directors' Information:- 3 G PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45400DL2015PTC276736

Company & Directors' Information:- A T N CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45400DL2015PTC288656

Company & Directors' Information:- I S R PROJECTS PRIVATE LIMITED [Active] CIN = U74140DL2005PTC138210

Company & Directors' Information:- L V PROJECTS PRIVATE LIMITED [Active] CIN = U74140DL2014PTC272838

Company & Directors' Information:- I G CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45201DL1996PTC077365

Company & Directors' Information:- M K PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45201DL2002PTC117787

Company & Directors' Information:- B V M PROJECTS PRIVATE LIMITED [Active] CIN = U45201DL2004PTC131352

Company & Directors' Information:- P P S CONSTRUCTION COMPANY PRIVATE LIMITED [Active] CIN = U45201DL2005PTC138608

Company & Directors' Information:- S S N V CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201DL2005PTC142918

Company & Directors' Information:- K. C. CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2012PTC231726

Company & Directors' Information:- N R D CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201DL2012PTC244905

Company & Directors' Information:- S A Z CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U70102DL2014PTC267130

Company & Directors' Information:- K. J. S. PROJECTS PRIVATE LIMITED [Active] CIN = U70109DL2006PTC152898

Company & Directors' Information:- R J POWER PROJECTS PRIVATE LIMITED [Active] CIN = U40102DL2013PTC258320

Company & Directors' Information:- T & A POWER PROJECTS PRIVATE LIMITED [Active] CIN = U40106DL2015PTC281726

Company & Directors' Information:- S C P POWER PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40109DL2005PTC133742

Company & Directors' Information:- A & Z CONSTRUCTION CO. PRIVATE LIMITED [Strike Off] CIN = U70101DL2012PTC231712

Company & Directors' Information:- J M M CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45200BR2014PTC021845

Company & Directors' Information:- POWER ON PROJECTS PRIVATE LIMITED [Under Process of Striking Off] CIN = U74900AP2015PTC097760

Company & Directors' Information:- T V R POWER PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40109AP2006PTC052062

Company & Directors' Information:- V N R PROJECTS PRIVATE LIMITED. [Active] CIN = U45400AP2008PTC060896

Company & Directors' Information:- C R R PROJECTS PRIVATE LIMITED [Active] CIN = U45400AP2015PTC097217

Company & Directors' Information:- A R P PROJECTS PRIVATE LIMITED [Active] CIN = U45200HR2012PTC044979

Company & Directors' Information:- H V PROJECTS PVT LTD [Active] CIN = U45202HR1997PTC033617

Company & Directors' Information:- R Y POWER PROJECTS PRIVATE LIMITED [Active] CIN = U40104KA2012PTC066217

Company & Directors' Information:- V & V PROJECTS PRIVATE LIMITED [Strike Off] CIN = U70109KA2005PTC037578

Company & Directors' Information:- M S S PROJECTS PRIVATE LIMITED [Strike Off] CIN = U45202KA2005PTC037905

Company & Directors' Information:- C AND T PROJECTS PRIVATE LIMITED [Strike Off] CIN = U74140GJ2009PTC057480

Company & Directors' Information:- A AND B PROJECTS PRIVATE LIMITED [Active] CIN = U45201GJ2007PTC051077

Company & Directors' Information:- B & U CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45203GJ2013PTC075424

Company & Directors' Information:- B. P. S. R. PROJECTS PRIVATE LIMITED [Active] CIN = U70109RJ2018PTC063238

Company & Directors' Information:- U. A. CONSTRUCTION PRIVATE LIMITED [Active] CIN = U45201HR2020PTC086153

Company & Directors' Information:- C P CONSTRUCTION PVT LTD [Strike Off] CIN = U70101WB1988PTC043759

Company & Directors' Information:- K P CONSTRUCTION (INDIA) PVT LTD [Strike Off] CIN = U74210WB1985PTC039394

Company & Directors' Information:- T K CONSTRUCTION PVT LTD [Strike Off] CIN = U74210WB1985PTC039731

Company & Directors' Information:- A P S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45201BR1986PTC002374

Company & Directors' Information:- A B G S CONSTRUCTION PVT LTD [Strike Off] CIN = U45201WB1986PTC040667

Company & Directors' Information:- G B S S CONSTRUCTION COMPANY PRIVATE LIMITED [Strike Off] CIN = U45201PN2000PTC015546

Company & Directors' Information:- B P CONSTRUCTION CO PVT LTD [Strike Off] CIN = U95201WB1955PTC022488

Company & Directors' Information:- A R CONSTRUCTION PVT LTD [Strike Off] CIN = U45201CH1988PTC008459

Company & Directors' Information:- A S G CONSTRUCTION CO. PRIVATE LIMITED [Strike Off] CIN = U70200DL1996PTC075278

Company & Directors' Information:- W & C CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45209PN2006PTC129169

Company & Directors' Information:- T & A CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2007PTC164939

Company & Directors' Information:- S R S S CONSTRUCTION PRIVATE LIMITED [Strike Off] CIN = U45400DL2008PTC176504

Company & Directors' Information:- R M S PROJECTS PVT LTD [Strike Off] CIN = U74210DL1975PTC007946

Company & Directors' Information:- A. R. PROJECTS PRIVATE LIMITED [Strike Off] CIN = U40200DL2007PTC161559

Company & Directors' Information:- B C R CONSTRUCTION PRIVATE LIMITED [Active] CIN = U99999MH1979PTC021005

Company & Directors' Information:- THE CONSTRUCTION CO OF INDIA LTD. [Dissolved] CIN = U99999MH1943PLC007425

Company & Directors' Information:- ELECTRIC POWER CO. LTD. [Not available for efiling] CIN = U99999MH1949PLC006940

Company & Directors' Information:- S B CONSTRUCTION CO LTD [Strike Off] CIN = U45208WB1947PLC014904

    FAO. (OS). (COMM). No. 59 of 2020 & C.M. No. 13545 of 2020

    Decided On, 11 January 2021

    At, High Court of Delhi

    By, THE HONOURABLE MR. JUSTICE VIPIN SANGHI & THE HONOURABLE MS. JUSTICE REKHA PALLI

    For the Appellant: P. Chidambaram, Sr. Advocate, Ranjit Prakash, Satvik Varma, Anshuman Pande, Gaurav Lavania, Tanveer Oberoi, Advocates. For the Respondent: Arvind K. Nigam Sr. Advocate, Dharmesh Misra, Siddhant Asthana, Prateek Gupta, Advocates.



Judgment Text

Rekha Palli, J.Judgment (Oral):1. This is an appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘the Act’) preferred by SEPCO Electric Power Construction Corporation against the judgment passed by the learned Single Judge on 17.02.2020 in OMP(I)(Comm) 523/2017, which was the Section 9 petition moved by the respondent/Power Mech to secure the entire amount granted in its favour by the three-member arbitral Tribunal by way of the award dated 17.10.2017. The impugned judgment only decided whether SEPCO was required to deposit the awarded amount before this Court, as a pre-condition for having its challenge to the award under Section 34 of the Act heard. For the sake of convenience, throughout this decision the appellant and the respondent shall be referred to as SEPCO and Power Mech respectively.2. The facts relevant to decide this petition may be briefly noted at the outset. To begin with, SEPCO is a Chinese construction company specialising in thermal power plant projects and is a Chinese Central Government owned entity, registered in the Shandong Province, People’s Republic of china. It has been engaged in the construction of several thermal power plants in India; the dispute between the parties arises out of the Talwandi Sabo thermal power plant project based in Mansa, Punjab bearing a total power generation capacity of 1980 MW, comprising of three units with a generating capacity of 660 MW each. SEPCO was the EPC contractor engaged for the Talwandi project, wherein Power Mech was the sub-contractor engaged by it, for Erection works of the Boiler, TG and other BOP systems. Disputes arose between SEPCO and Power Mech regarding the delays occasioned in the execution of these works. Consequently, their dispute was referred for arbitration to a three-member Tribunal before which Power Mech raised eight claims amounting to INR 227,68,34,427/-. The learned Tribunal passed an award on 17.10.2017 in favour of Power Mech by holding SEPCO liable for the delays occasioned, and awarded a sum of INR 142,41,14,499/- in favour of Power Mech.3. A challenge to the award on merits has been raised by SEPCO under Section 34 of the Act vide OMP(Comm) 432/2017 which is presently pending adjudication, whereas Power Mech preferred a petition under Section 9 of the Act being OMP(I)(Comm) 523/2017; as noted above, the judgment impugned herein was passed in the latter petition. Since Power Mech, by way of the Section 9 petition, was seeking to secure the entire principal amount awarded in its favour on 17.10.2017, several directions for deposit of amount were passed in those proceedings in the period between 2017 and 2020. The deposits made/security created by SEPCO, in the form of deposits and bank guarantees under orders of the Court may be summarised as under:(a) A sum of INR 1,63,68,589/- deposited on 01.09.2018(b) A sum of INR 50,50,113/- deposited on 24.12.2018(c) A sum of INR 60,00,000/- deposited on 25.03.2019(d) A bank guarantee for a sum of INR 30,00,00,000/- issued by the Industrial and Commercial Bank of China, Mumbai Branch on 22.03.2019 which is currently a subject of dispute being considered by this Court in separate proceedings being FAO(OS)(Comm) 136/2019.4. As noted hereinabove, the limited controversy decided by the learned Judge in the impugned judgment was whether SEPCO’s challenge to the award under Section 34 of the Act could be considered on merits at all, without it securing the complete awarded amount. SEPCO, of course, vehemently opposed any direction for deposit of 100% of the awarded amount as pre-deposit on the following four broad grounds (i) there is no statutory provision within the Act which explicitly bars the consideration of a Section 34 petition without securing the awarded amount, (ii) there have been several instances in the past where the Court has directed deposit of 50% of the awarded amount, rather than 100% of it, (iii) SEPCO is solvent and, thus, fully capable of satisfying the amount at a later date even if the Section 34 petition is dismissed upon final adjudication and that, finally, (iv)the impugned award was prima facie perverse and the amounts granted thereunder did not merit to be secured at all.5. Per contra, Power Mech insisted on the pre-deposit on the following three broad grounds; (i) the petitioner, being a company owned by the People’s Republic of China, had no realizable assets in India to satisfy the enormous amount due under the award, (ii) the direction for pre-deposit was not a discretionary measure and had a statutory backing to it, which has been established by past precedent, and that, (iii) SEPCO had been failing to adhere to the directions for deposit which have already been made by this Court and showed its lack of bona fides.6. The learned Single Judge considered the rival contentions of the parties and passed the impugned order on 17.02.2020; the relevant extracts of her findings read as under:“28. The contention of Mr. Arvind Nigam, learned senior Counsel for the respondent in the opinion of this Court has merit. While it cannot be said as a principle of law that there is a mandate that in every case the Court must insist on a 100% deposit, before hearing a petition under Section 34 of the Act or before staying the enforcement of the Award, as the amount of deposit would depend on the facts of the case and is in the discretion of the Court hearing the petition, Mr. Nigam is correct in his submission that the circumstances and the facts of the present case warrants that the petitioner should be directed to deposit the principal amount awarded to the respondent before the petitioner is heard on merits. The chronology of facts of this case reveals that the petitioner in fact does not have any immovable assets in India. Though the petitioner had filed an affidavit that it has ongoing projects in India, which of course was rebutted by the respondent, but-in the opinion of this Court even if the projects are ongoing, for the sake of arguments, that cannot be accepted as a security which would ensure that the Award would be enforceable. Much has been argued on the valuation report with regard to certain machinery and other assets lying at the project site of the petitioner. This Court does not think it appropriate at this stage to go into the disputed questions on the valuation of the machinery. Suffice would it be to state that in terms of the law laid down by the Supreme Court, more particularly in case of Hindustan Construction Company Limited (supra), the machinery for whatever it is worth, cannot be taken as a solvent “security, since the Award to be treated as a money decree and cannot be secured by moveable assets such as plant and machinery. This Court is not delving into the issue of the money due to the petitioner under the Settlement Agreement with BALCO since the said settlement is irrelevant to the present case. Whether Or not the petitioner takes steps to realize the money due to it from BALCO is not the concern of this Court in securing the present Award.xxx xxx xxx32. While it is true that in some of the orders shown by the learned senior Counsel for the petitioner, co-ordinate Benches of this Court have, been directing a deposit of 50%, but going by the recent judgments of the Supreme Court as well as the fact; of the present case, I am of the opinion that the petitioner must deposit 100% ,of the awarded amount of Rs. 142 Crores (principal amount) to secure the respondent.33. Since the petitioner has already furnished BG of Rs. 30 Crores and has deposited a further amount of Rs. 2.74 Crores, the said amount would be adjusted and the balance amount from’ Rs. l42 Crores will be deposited by the petitioner with the Registry of this Court within a period of four weeks from today.With the aforesaid directions, the present petition is hereby disposed of along with all the pending applications.”(Emphasis supplied)7. Assailing this judgment, Mr. P. Chidambaram learned senior Counsel for SEPCO has primarily raised two contentions; the first being, it is a settled principle of law that any direction for pre-deposit under Section 9 of the Act ought to be made in the light of a proper appreciation of the financial health of the entity who would be liable under such a direction. He submits that although the learned Single Judge has recorded the submissions of SEPCO pertaining to its strong financial health and liquidity, the same were given a go-by at the time of rendering its findings. SEPCO is an entity owned by the Government of People’s Republic of China and is an affiliate of the Power Construction Corporation of China which is a Fortune 500 entity. Being a thermal power plant specialist, SEPCO is one of the largest players in the thermal power plant construction field. Till date, SEPCO has been involved in the construction of over 685 power generation units since its inception in 1952. He submits that SEPCO’s participation in Indian power-generation projects began in 1998 and is, as on date, engaged in the construction of four coal-based power plant generation projects. In fact, its contender in these proceedings, Power Mech is its subcontractor in a few of the concurrent projects which are presently in construction. He, thus submits that all of these facts, which are easily verifiable from the record, show that SEPCO is no fly-by night operator, and has adequate commercial footing in the country. He further submits that against this background position, there is absolutely no basis for any apprehension on the part of Power Mech ,or this Court, with respect to SEPCO’s bona fide or its ability to satisfy the award amount. He submits that SEPCO’s primary grievance with respect to the direction for deposit is stemming from the fact that the principal amount liability of INR 142,41,14,499/- under the award, being a substantial sum, if required to be paid by way of deposit or Bank Guarantees at this stage would adversely impact its overall liquidity and, therefore, cause snags in its presently pending construction projects which demand regular cash inflow. He submits that no such direction for deposit of the entire principle awarded amount could have been made by the learned Single Judge, without considering the relevant factors pointed out by SEPCO at the time of arguments.8. Mr. Chidambaram further submits that the impugned judgment proceeds on the erroneous presumption that the decision in Hindustan Construction Company Limited v. Union of India, II (2020) SLT 165=I (2020) BC 412 (SC)=(2019) SCC Online SC 1520 contains a fleeting mandate to direct deposit of 100% awarded amount in all cases involving a challenge to an award under Section 34 of the Act. He submits that the decision merely reiterates the need to secure the awarded amount to ensure that the fruits of arbitration do not stand compromised at the time of enforcement, and all Section 9 proceedings instituted post arbitration serve as a step-in-aid of that purpose. However, considering that the financial health of SEPCO is sound and adequately secured as on date, there is no question of the awarded amount being unsecured as on date. He submits that, in fact, any directions for deposit of the entire awarded sums, on a misinterpretation of the decision in Hindustan Construction (supra), would be an excessive step against SEPCO, not a step in aid of enforcement of the award.9. Lastly, Mr. Chidambaram submits that Power Mech had attempted to mislead the learned Single Judge into believing that SEPCO had acted in an improper manner by accepting payments in its off-shore bank accounts to avoid complying with the directions passed on 27.04.2018, which in substance required SEPCO to deposit 10% of the amounts deposited in its Indian bank accounts before this Court every fifteen days in order to secure the awarded amount. He submits that this was merely a bald assertion by Power Mech which remained completely unsubstantiated by any evidence and could not be taken into account at all.10. On the other hand, Mr. Arvind Nigam, learned senior Counsel for Power Mech supports the findings of the learned Single Judge by contending that the same suffer from no infirmity and are based on a correct appreciation of the facts on record. He submits that all claims of sound financial health made by SEPCO fall flat in the face of the findings of the Court-appointed Valuer who had examined the assets of SEPCO which were present within the territory of India. While SEPCO, in its affidavit before this Court, had claimed having immovable and movable assets worth INR 92.67 crores comprising of furniture, electrical fitting, plant and machineries including cars, computers and software, and books within the territory of India, the Valuer had estimated the same to be worth INR 20 crores. Even the machineries held in India have been overestimated in value by SEPCO which has claimed it as one of its assets, when in reality they are in a junk condition, unfit to even fetch the cost of scrap and cannot be regarded as an asset in any respect.11. Mr. Nigam draws our attention to the cycle of events which ensued following the passing of the order dated 24.07.2018. On that date SEPCO had pleaded before this Court that it was executing several high value construction projects in the country which were likely to yield significant receivables in the bank accounts which were mentioned in its affidavit of assets dated 02.01.2018. The Court had, thus, directed SEPCO to make deposits of 10% of the receivables deposited in these accounts every fifteen days, but SEPCO began the practice of receiving all amounts in its off-shore accounts in order to bypass the directions of this Court. This led to a complete failure on SEPCO’s part to meet its obligations under the directions of this Court, which in itself is proof of the fact that SEPCO is incapable of meeting its liabilities under the award. He further submits that insofar as the remaining contentions of SEPCO are concerned, the learned Single Judge did not at all misinterpret the decision in Hindustan Construction Limited (supra) at all, but only relied on the same to draw attention to the important function served by pre-deposit directions, in principle, especially in post award situations. However, since the entire case of SEPCO relies entirely on its own financially sound position in India, which stands sufficiently rebutted, there is absolutely no merit in this appeal preferred by SEPCO. He, thus, prays for this appeal to be dismissed with costs.12. We have considered the submissions of the parties and perused the record, including the judgment impugned herein.13. What emerges is that the parties are ad idem to the extent of the general principle apropos a direction for pre-deposit in proceedings for interim reliefs instituted pursuant to the making of an arbitral Award for money, and that the same can be made in order to ensure that the amounts awarded in arbitration are secured for the purpose of enforcement. It appears that SEPCO is, however, aggrieved that the learned Single Judge has proceeded to pass the impugned order without dealing with its contentions that this was not a case which necessitated the issuance of directions for any sort of deposit of the awarded amount, much less 100% of the principle awarded amount. An ancillary grievance arising therefrom is that its submissions pertaining to its ability of satisfying the liability arising under the award, were not duly considered by the learned Single Judge while passing the impugned judgment. The second primary grievance raised by SEPCO in this appeal is that the findings in the impugned judgment are based on a misinterpretation of the decision in Hindustan Construction (supra) to arrive upon the erroneous conclusion that the decision mandated 100% deposit of awarded amount by the judgment debtor in all cases.14. During arguments, extensive submissions have been made on behalf of SEPCO regarding its sound financial health and its genesis as a Government-owned entity of the People’s Republic of China, its past projects and its market reputation as a testament to this averment. In its sworn affidavit filed before the Court on 02.01.2018 in the proceedings under Section 9 of the Act, it even claimed to have movable and immovable assets within the territory of India worth INR 92.67 crores which included furniture, electrical fittings, plant and machinery, cars, computers and software, and books. However, notwithstanding the veracity of this valuation, a prima facie consideration of the same itself reveals that the purported value of these assets claimed to be held by SEPCO in India, even as per its own estimates, is significantly less than the amount of INR 142,41,14,499/- required to be secured for the purpose of enforcement.15. We also find that, even in the initial stages of the Section 9 proceedings, SEPCO had repeatedly asserted its sound financial health before the Court and, to that effect, went on to submit that it was regularly receiving monies in its Indian bank accounts as receivables from the projects it was engaged in at the time, as proof of its liquidity. This was the basis of the order passed on 27.04.2018 by the Court directing SEPCO to deposit 10% of the amounts received in these accounts every fifteen days with the Registry, until the sums required to be secured stood deposited. However, since the affidavit dated 02.01.2018 filed by SEPCO had failed to set out the exact particulars and location of the assets it claimed to have, it was required to furnish an additional affidavit furnishing these details as well. The relevant extracts of the order passed on 27.04.2018 read as under:“1. I have been taken through the affidavit dated 2.1.2018, filed on behalf of the Sepco Electric Power Construction Corporation (‘SEPCO’). This affidavit, it appears, has been wrongly filed in O.M.P. (COMM) 432/2017, which is listed as item No. 30 on my Board, today.2. A perusal of paragraph 4 of the affidavit shows that SEPCO claims that it owns immovable and movable assets, such as, furniture, electrical fittings, plant and machinery including cars and computers, softwares, books, etc. worth Rs. 92.67 crores approximately.2.1 What is, however, not disclosed in the affidavit is the exact particulars and the location of these assets.xxx7. As indicated above, the affidavit filed on behalf of SEPCO does not inspire confidence at least not at present that it has sufficient resources available at its command to satisfy the award if it were to fail in its challenge to the same.7.1 Therefore, for the moment, SEPCO is directed to do the following:(i) SEPCO will disclose the exact particulars and the location of the assets mentioned in paragraph No. 4 of its affidavit dated 2.1.2018.(ii) 10% of the amount available in the bank accounts referred to in paragraph No. 5 of the very same affidavit, as on 24.7.2018, shall be deposited with the Registry of this Court. Furthermore, deposits, if any, made hereafter in the said accounts to the extent of 10%, will also be deposited with the Registry of this Court every 15 days.(iii) Liberty is, however, given to SEPCO to seek variation of the direction contained in Clause (ii) above, if security worth Rs. 142 crores is furnished to the Court favouring PMPL.(iv) The affidavit, as directed above, will be filed within one week from today.”16. A cursory reading of this order shows that even this direction for deposit given by the Court which required SEPCO to deposit the amount in gradual deposits, instead of the entire sum in the form of a lump sum, was a form of accommodation made for SEPCO by the Court; thus granting it time to secure the total principal award amount of INR 142,41,14,499/-. Yet, over the subsequent months, SEPCO failed to make the deposits as required which is a matter of record. Only a small amount of Rs. 2.74 crores has been deposited towards 10% of the contractual receipts. Therefore, if SEPCO is to be believed that it has not diverted its receivables in India overseas, it has received only about Rs. 27 crores in India in over 2 years. This itself belies the claim of SEPCO that it has large ongoing projects in India with huge receivables. Else, it points to diversion of receivables in India to overseas locations. In either case, this raises various doubts about the bona fides and the intentions of SEPCO to honour the Award, in the eventuality of its objections thereto being dismissed.17. Thereafter on 10.09.2018, in the light of SEPCO’s apparent failure to secure the awarded amount, the Court passed another interim order appointing M/s P.N. Chopra & Co. as the Valuer, this time with the purpose of ascertaining the realisable value of the assets of SEPCO in the country, notwithstanding its own claims in the affidavits dated 02.01.2018 and 18.08.2018. The Valuer furnished its report on 23.10.2018 after conducting a thorough analysis of SEPCO’s assets which were mentioned in its two affidavits and estimated the true value of the same at INR 20 crores at the time. Thus, the summary of the Valuer’s findings even at that stage, echoed the observations of the Court as contained in paragraph 7 of its order dated 27.04.2018, in that the value of SEPCO’s assets failed to inspire any confidence in its financial capabilities. The position at the time of the passing of the impugned judgment, i.e. 17.02.2020, had not changed much and the total amount deposited by SEPCO, barring the bank guarantees submitted, stood at approximately INR 2.70 crore. This amount, evidently, is barely a fraction of the total principal amount of INR 142,41,14,499/- payable under the award. Over and above that amount, the interest is also awarded, and is mounting. As things stand today, a major portion of the amount accruing to Power Mech under the award stands unsecured.18. In response to Power Mech’s contention that SEPCO was deliberately diverting payments, being made for its ongoing projects, to its offshore bank accounts from its Indian ones, SEPCO has contended that these are baseless assertions as the payments received in the off-shore accounts are receivables from off-shore projects. But we find that SEPCO has not offered any explanation as to why its Indian Bank accounts, assured to be in regular receipt of receivables from its ongoing construction projects, dried up and/or were insufficient to satisfy the directions for deposit. We also cannot lose sight of the line of argument adopted by SEPCO before this Court to the effect that depositing the principal amount liability of INR 142,41,14,499/- under the award, being a substantial sum, is likely to have an adverse impact on SEPCO’s liquidity and cause snags in its presently pending construction projects. Were SEPCO as financially capable of securing the awarded amount from its assets in India, as it claims, the same would have been reflected either in the report furnished by the Valuer or in its actions, in complying with the orders of this Court. Unfortunately, mere market presence or commercial standing is not sufficient on its own for SEPCO to establish that it has enough financial resources in India to satisfy the amount payable under the award in case it fails in its Section 34 challenge to the same, especially in the absence of any documentary evidence or judicially-compliant action in support thereof. The claim of SEPCO that it is a Government company of the Peoples Republic of China, or that it is a part of a fortune 500 company is no solace to the respondent, since it cannot be expected to chase SEPCO around the globe to recover its dues under the Award in question.19. Moving on to the submissions made on the grounds of law, SEPCO has contended that the impugned judgment suffers from a misinterpretation of the decision in Hindustan Construction (supra) to arrive upon the decision to direct 100% deposit of the awarded amount. We have carefully considered that part of the impugned judgment, which dealt with this aspect, and find that this contention arises out of SEPCO’s own failure to appreciate the reason for which the decision in Hindustan Construction (supra) had been invoked in the first place. As noted previously, a primary ground adopted by SEPCO in the Section 9 petition was that the award, which had already been challenged by it in OMP(Comm) 432/2017 under Section 34 of the Act, was so perverse and bereft of reason that it was unlikely to withstand the scrutiny of the Court. For this reason, SEPCO had claimed that it was all but sure of succeeding in its Section 34 challenge and, therefore, any direction to secure the awarded amount was a mere formality which could be done away with, especially since the same involved an enormous amount. The learned Single Judge, in response to this line of argument, invoked the ratio of the decision in Hindustan Construction (supra) to reiterate a few principles that form the settled legal position today, viz. (i) mere institution of Section 34 proceedings do not warrant automatic stay of the award sought to be impugned, (ii) any decisions which lay down otherwise are per incuriam, and that (iii) a stay is a creature of a judicial decision, which can be made at the discretion of the Court and made subject to certain conditions like those passed at the time of granting a stay on a money decree. In effect, the learned Judge sought to make it clear to SEPCO, that any of its submissions on the perversity of the award could onl

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y hold water before the Court dealing with the Section 34 petition, and its simple act of filing a Section 34 petition, neither nullified the principles espoused by the scheme of the Act, nor dissolved the duty of the Court, in post-arbitration Section 9 proceedings, to secure the amount under the award. Another key point that we would like to add here is that a Court exercising jurisdiction under Section 34 of the Act wields a limited scope of interference, which means that the award remains binding for all intents and purposes until it is tested against certain parameters within the limited scope of Section 34. So, in the present case, when the award dated 17.10.2017 is yet to be put to such a test, SEPCO cannot attempt to shrug off its liabilities thereunder. For these reasons, we are in complete agreement with the interpretation of the learned Single Judge of the decision in Hindustan Construction (supra), and find absolutely no infirmity in the manner in which the same was applied in the impugned judgment.20. The contention of SEPCO that deposit/security of the Awarded amount, or any part thereof is not mandatory in all cases cannot be disputed. It would need examination on a case by case basis as to what arrangement should be worked out by the Court to secure the Awarded amount. In this regard, the learned Single Judge, in the impugned judgment has considered and, we too have considered, the matter hereinabove. Considering the fact that SEPCO is a foreign entity having negligible assets within the jurisdiction of this Court, or even within the territory of India, as confirmed by the report of the Valuer dated 23.10.2018, it is of utmost import and urgency to secure the amounts awarded in arbitration to prevent the possibility of rendering the enforcement proceedings a farce. Not to mention, the interest component of the award, as on date, has escalated to a sum of INR 50,00,00,000/-, to secure which no directions have been passed in the impugned order. Add to that SEPCO’s inability to comply with previous directions of deposit, or overall failure in satisfying the Court of its financial health, the learned Single judge found this to be a fit case to direct deposit of 100% of the principal awarded amount and, in our opinion, rightly so. It is the bounden duty of this Court in these proceedings to protect the enforceability of the award and pass directions which are intended to ensure that the judgment debtor cannot evade payment under the award in case the objections raised by it under Section 34 of the Act are ultimately dismissed.21. In the light of the aforesaid, we find absolutely no reason to interfere with the discretion exercised by the learned Single judge while passing the impugned judgment. The appeal, being meritless, is dismissed with no order as to costs.Appeal dismissed.
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