Arbitral Tribunals Exercising Power U/S 17 Not Strictly Bound By CPC: Calcutta High Court
Live LawThe Calcutta High Court has held that the arbitral tribunals while exercising powers under Section 17 of the A&C Act are not strictly bound by the technicalities of CPC. The bench of Justice Shekhar B. Saraf has extended the reasoning adopted by the Apex Court, in Essar House Private Limited v. Arcellor Mittal Nippon Steel India Limited, 2022 LiveLaw 765 wherein the SC held that Court exercising powers under Section 9 of A&C Act is not strictly bound by CPC, to Section 17 also by observing the scope of both the Sections is now almost pari passu. The tribunal, upon the oral representation of the parties, vide an order dated 07.03.2022 modified the orders dated 22.12.2021 and 14.02.2022 and directed that instead of entire balance amount, the respondent to open an interest-bearing fixed deposit account comprising 50% of the basic contract value plus 100% of taxes and duties payable on the HWM System in favour of the petitioner's advocate and that the amount would be released as an when it makes any further order in that regard. The Court has extended the reasoning adopted by the Apex Court, in Essar House Private Limited v. Arcellor Mittal Nippon Steel India Limited, 2022 LiveLaw 765 wherein the SC held that Court exercising powers under Section 9 of A&C Act is not strictly bound by CPC, to Section 17 also by observing the scope of both the Sections is now almost pari passu.