SHRISTI INFRASTRUCTURE DEVELOPMENT vs SCORPIO ENGINEERING PRIVATE LIMITED AND ANR

Judgment text excerpt

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 16.12.2024 Judgment pronounced on:01.05.2025 + O.M.P.(COMM.) 246/2022 SHRISTI INFRASTRUCTURE DEVELOPMENT ......Petitioner Through: Mr. Vaibhav Gaggar, Adv. versus SCORPIO ENGINEERING PRIVATE LIMITED AND ANR. ......Respondents Through: Mr. Satyam Dwivedi, Mr. Harshit Prakash and Mr. Puja Jakhar, Advs. for R-1. CORAM: HON’BLE MR. JUSTICE JASMEET SINGH JUDGMENT : JASMEET SINGH, J 1. This is a petition filed under section 34 of the Arbitration and Conciliation Act, 1996 (―1996 Act‖) seeking to challenge the Arbitral Award dated 16.10.2019 (―Impugned Award‖), whereby the petitioner has been held to be jointly and severally liable along with respondent no. 2 to pay a sum of Rs. 6,56,84,982/- (Rs. 5,73,15,078/- towards claim no. 1 and Rs. 83,69,904/- towards claim no. 4) to respondent no. 1 along with interest at the rate of 38.85% from the date of the award till the actual payment is made. Digitally Signed O.M.P.(COMM.) 246/2022 Page 1 of 42 By:MAYANK Signing Date:01.05.2025 16:59:42 FACTUAL MATRIX AS PER THE PETITIONER 2. The petitioner is a leading civil engineering, construction and infrastructure development public limited company, registered under the Companies Act, 1956 having its registered office at Plot No. X - l, 2 and 3, Block - Ep, Sector- V, Salt Lake City, Kolkata- 700091. 3. Respondent no. 1 is a private limited company registered under the Companies Act, 1956 having its registered office at No. 132, Wheeler Road, Cox Town, Bangalore, Karnataka – 560005 and is engaged in the business of bulk material handling systems. Respondent no. 2, formerly known as India Power Corporation (Haldia) Limited is a public limited company registered under the Companies Act, 1956, having its registered office at