RELIANCE NAVAL AND ENGINEERING LTD. vs RELIANCE DEFENCE AND ENGINEERING LTD.

Judgment text excerpt

908.ARBP.1755.2015.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION (L) NO.9646 OF 2024 IN ARBITRATION PETITION NO.1755 OF 2015 WITH CHAMBER SUMMONS NO.539 OF 2019 IN ARBITRATION PETITION NO.1755 OF 2015 Reliance Naval and Engineering Ltd. ….Applicant IN THE MATTER BETWEEN Reliance Defence & Engineering Limited. ….Applicant Versus M/s Afcons Infrastructure Ltd. ....Respondent Mr. Cyrus Ardeshir a/w. Mr. Amir Ariswala and Mr. Rahul Gupta, for Applicant in IAL/9496/2024. Mr. Janak Dwarkadas a/w. Mr. Naushad Engineer, i/b Ms. Meenakshi Iyer for Respondent in IAL/9646/2024 CORAM: SOMASEKHAR SUNDARESAN, J. DATE : DECEMBER 17, 2025 ORAL JUDGEMENT: Context and Factual Background: 1. Interim Application No. 9646 of 2024 (“ Interim Application”) in Digitally signed by Arbitration Petition No. 1755 of 2015 (“ Section 34 Petition”) seeks this AARTI AARTI GAJANAN GAJANAN PALKAR PALKAR Date: 2025.12.22 Court’s intervention in a rather narrow compass. 13:45:00 +0530 Page 1 of 10 DECEMBER 17, 2025 Aarti Palkar 908.ARBP.1755.2015.doc 2. The Applicant (Original Petitioner in the Section 34 Petition), Reliance Naval & Engineering Ltd. (“Reliance”), earlier known as Pipavav Defence and Engineering Limited was a “Corporate Debtor”, which underwent resolution under the provisions of the Insolvency and Bankruptcy Code, 2016 (“IBC”). 3. Under an arbitral award dated August 31, 2015 (“ Arbitral Award”), Reliance owed to the Respondent, Afcons Infrastructure Ltd. (“Afcons”), a sum of Rs. ~49.11 Crores. The Arbitral Award was challenged by Reliance in the Section 34 Petition. 4. During the conduct of the Section 34 Petition, pursuant to an order of a Learned Single Judge dated February 20, 2017, Reliance deposited a sum of Rs.12,76,91,279 wit