Supreme Court of India · 2022-09-14
ESSAR HOUSE PRIVATE LIMITED vs ARCELLOR MITTAL NIPPON STEEL INDIA LIMITED
- Citation / case number
- SC 2021/4449
- Court
- Supreme Court of India
- Petitioner
- ESSAR HOUSE PRIVATE LIMITED
- Respondent
- ARCELLOR MITTAL NIPPON STEEL INDIA LIMITED
- Author
- HON'BLE MS. JUSTICE INDIRA BANERJEE
- Bench
- HON'BLE MS. JUSTICE INDIRA BANERJEE, HON'BLE MR. JUSTICE SURYA KANT, HON'BLE MR. JUSTICE M.M. SUNDRESH
Judgment text excerpt
The Supreme Court upheld the decision of the Bombay High Court which directed Essar House Private Limited to deposit Rs. 35.5 crores or furnish a bank guarantee under Section 9 of the Arbitration and Conciliation Act, 1996. The court confirmed that the High Court's order was justified in ensuring compliance with the arbitration agreement and protecting the interests of the respondent, Arcellor Mittal Nippon Steel India Limited. The appeals by Essar House and Essar Services were dismissed, affirming the lower court's rulings.