ORDER OC – 73 IN THE HIGH COURT AT CALCUTTA ORDINARY ORIGINAL CIVIL JURISDICTION [COMMERCIAL DIVISION] AP- COM/1005/2024 STEEL AUTHORITY OF INDIA LIMITED VS PRIMETALS TECHNOLOGIES INDIA PVT. LTD. & ANR. BEFORE: THE HON'BLE JUSTICE SHAMPA SARKAR Date : 8TH January 2025. APPEARANCE: Mr. Chayan Gupta, Advocate Mr. Dwip Raj Basu, Advocate … for the petitioner. Mr. Rajesh Markanda, Advocate, Mr. Ayan Chakrabaorty, Advocate and Ms. Sohini Mukherjee, Advocate, … for the respondents. The Court:- Affidavit of service filed in Court be kept is taken on record. This is an application for stay of the award dated July 18, 2024 passed by the learned sole arbitrator. Upon considering the pleadings, the submissions of the parties and the calculations which have been submitted by the respective parties, this application is disposed of with the following directions:- There shall be an unconditional stay of the award for a period of four weeks from date. The award-debtor will furnish security by way of two long term interest bearing fixed deposits of any scheduled bank. The same shall be kept renewed from time to time. In respect of the respondent no. 1, the interest bearing fixed deposit shall be for an amount of Rs.2 crores 2 and in respect of respondent no. 2, the interest bearing fixed deposit shall be for an amount of Rs.4 crores. The said fixed deposits shall be deposited with the learned Registrar, Original Side of this Court, within four weeks from date. Upon compliance of the above order, the award shall remain stayed till disposal of the application under section 34 of the Arbitration and Conciliation Act, 1996. In case of default, the interim order shall stand automatically vacated and the respondents may proceed for enforcement of the Award. (SHAMPA SARKAR, J.) dg / S. Kumar