Municipal Corporation Chandigarh v. M/s Subhash Projects And Marketing Ltd. And Others

Municipal Corporation Chandigarh v. M/s Subhash Projects And Marketing Ltd. And Others

(High Court Of Punjab And Haryana)

FAO-6432-2016 (O&M) | 31-08-2021

1. Heard.

2. Requires consideration.

3. Admitted.

4. Keeping in view the fact that the contract was for a project for building and operating a transport parking for a period of 9 years 11 months and the appellant-Municipal Corporation was not able to provide space for the said project, it shall deposit a sum of Rs.2 crores alongwith 9% interest from the date of the Award i.e. 08.08.2013, with the Executing Court within a period of two months from today. The said amount will be released to the respondent-Contractor on furnishing of adequate security.

Advocate List
Bench
  • HON'BLE JUSTICE G.S. SANDHAWALIA
Eq Citations
  • LQ/PunjHC/2021/9005
Head Note

Arbitration — Award — Execution — Appellant-Municipal Corporation not able to provide space for the project — Directed to deposit a sum of Rs.2 crores alongwith 9% interest from the date of the Award i.e. 08.08.2013, with the Executing Court within a period of two months from today — The said amount will be released to the respondent-Contractor on furnishing of adequate security.