Supreme Court of India
Sepco Electric Power Construction Corporation v. Power Mech Projects Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the reasons discussed above, the appeal from the impugned judgment and order of the Division Bench dated 27.11.2020 in FAO(OS) (COMM) No. 136 of 2019 is allowed.
Judgment, page 18
From the headnote
Arbitration and Conciliation Act, 1996 – ss. 9, 37 – Commercial Courts Act, 2015 – s.13(1A) – Reserve Bank of India Act, 1934 – Bank Guarantee from a ‘schedule Bank’ and a ‘schedule Indian Bank’ – The appellant, an entity in corporate in China was awarded contracts in relation to coal based power projects in India and the respondent, a company incorporated in India was engage d as a sub-contractor of the appellant –Dispute arose between the parties – Arbitration clause invoked – Arbitration Award wa s passed of approximately Rs.1,42,00,00,000 (One hundred and forty two crores) in favour of
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