International Seaport Dredging Pvt. ... vs Kamarajar Port Limited

The Supreme Court addressed an appeal against a High Court order that stayed the execution of an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996. The Court held that the High Court erred in merely requiring a bank guarantee instead of directing the deposit of the awarded amount, emphasizing that an arbitral award operates as a money decree under Section 36 of the Arbitration Act. The Court reaffirmed the principle that the sanctity of arbitration must be preserved by requiring the deposit of the awarded amount as a condition for stay of execution.