SECURITRANS INDIA PRIVATE LIMITED vs FIS PAYMENT SOLUTIONS AND SERVICES PRIVATE LIMITED

Judgment text excerpt

Neeta Sawant CARBP-750 OF 2024 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO. 750 OF 2024 WITH INTERIM APPLICATION NO. 3887 OF 2024 SECURITRANS INDIA PRIVATE LIMITED ...Petitioner : Versus : FIS PAYMENT SOLUTIONS AND SERVICES PRIVATE LIMITED ….Respondent Mr. Sharan Jagtiani, Senior Advocate with Ms. Samridhi Lodha, Mr. Tushad Kakalia with Mr. Hormuz Mehta, Mr. Ahsan Allana & Ms. Avantika Kadapatti i/b M/s. J. Sagar Associates, for Petitioner . Mr. Soli Cooper, Senior Advocate with Mr. Yohann Cooper, Mr. Raghav Seth & Ms. Chandini Sahni i/b M/s. AZB & Partners, for Respondent. Digitally signed by CORAM : SANDEEP V. MARNE, J. NEETA NEETA SHAILESH SHAILESH SAWANT SAWANT Date: 2025.12.23 20:34:54 Reserved on : 10 December 2025. +0530 Pronounced On: 23 December 2025. JUDGMENT:- 1) By this Petition filed under the provisions of Section 34 of the Arbitration and Conciliation Act, 1996, (Arbitration Act) Award of the learned Sole Arbitrator dated 3 May 2023 is sought to be _____________________________________________________________________________ PAGE NO. 1 of 73 23 December 2025 Neeta Sawant CARBP-750 OF 2024 invalidated. By the impugned Award, the Arbitral Tribunal has awarded sum of Rs. 25,05,79,968/- together with interest @ 18% p.a. upto 16 April 2016 in favour of the Petitioner. The Tribunal has also awarded sum of Rs. 23,26,05,022/- in favour of the Respondent. Petitioner is aggrieved by award of claim of Respondent in the sum of Rs. 23,26,05,022/- and has filed the present Petition. Facts 2) Petitioner-Securitrans India Pvt. Ltd, (SIPL) is an incorporated entity engaged in the business of providing ATM cash replenishment services, cash delivery and pick up services and cash management and consultancy