https://www.taxtmi.com/caselaws?id=761062 While granting stay of enforcement of a money award under Section 36 of the Arbitration and Conciliation Act, the Court must apply the principles governing stay of money decrees under the Code of Civil Procedure and cannot give a statutory body special treatment merely because of its institutional character. Security conditions must be fixed under the statutory scheme, not on subjective views about credibility or on selective treatment of only part of the award. Where the arbitral award contains multiple monetary components, the stay order must address the full decretal exposure. A direction securing the entire award only by bank guarantee was therefore unsustainable, and the stay required modification by insisting on deposit of a substantial part of the decretal amount. en-us Thu, 24 Oct 2024 00:00:00 +0530 Tue, 05 Nov 2024 07:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761062 While granting stay of enforcement of a money award under Section 36 of the Arbitration and Conciliation Act, the Court must apply the principles governing stay of money decrees under the Code of Civil Procedure and cannot give a statutory body special treatment merely because of its institutional character. Security conditions must be fixed under the statutory scheme, not on subjective views about credibility or on selective treatment of only part of the award. Where the arbitral award contains multiple monetary components, the stay order must address the full decretal exposure. A direction securing the entire award only by bank guarantee was therefore unsustainable, and the stay required modification by insisting on deposit of a substantial part of the decretal amount. Case-Laws Indian Laws Thu, 24 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761062