Overview
- Justice Somashekhar Sundaresan on October 10 declined an unconditional stay and required MMRCL to deposit the full award with accrued interest within eight weeks for the stay to operate.
- L&T–STEC JV may withdraw the deposited amount along with accruals upon furnishing a full unconditional bank guarantee as per High Court rules.
- A majority arbitral tribunal directed payment of Rs 229.56 crore as GST reimbursement for July 2017 to September 2022 and Rs 21.26 crore for additional work.
- The MMRCL-nominated arbitrator dissented, limiting GST reimbursement to Rs 134.42 crore and concluding Rs 27.09 lakh was refundable on additional works.
- The court found the award neither facially untenable nor vitiated by patent illegality and noted MMRCL’s claims of perversity, price-breakup, and witness treatment will be examined in the pending challenge.