A Court cannot entertain an application under section 36(2) of Arbitration and Conciliation Act, 1996 unless a buyer puts in 75% of the awarded amount before seeking setting aside of an award under section 19 of the MSMED Act, 2006 – The Board of Major Port Authority for the Shyama Prasad Mookerjee Port, Kolkata Vs. Marine Craft Engineers Pvt. Ltd. – Calcutta High Court

The issues for adjudication in this case are as follows:
A. Whether compliance of section 19 of the MSMED Act is mandatory for seeking stay of an award; and
B. Whether filing of an application under section 34 of the 1996 Act, without the pre-deposit under section 19 of the MSMED Act, makes the application for seeking stay of the award under section 36(2) of the 1996 Act, imperfect in the eye of law.

A Court cannot entertain an application under section 36(2) of Arbitration and Conciliation Act, 1996 unless a buyer puts in 75% of the awarded amount before seeking setting aside of an award under section 19 of the MSMED Act, 2006 – The Board of Major Port Authority for the Shyama Prasad Mookerjee Port, Kolkata Vs. Marine Craft Engineers Pvt. Ltd. – Calcutta High Court Read Post »