Unconditional Stay on ₹250 Crore Arbitral Award Refused : Bombay High Court

The Bombay High Court declined to grant an unconditional stay on the ₹250.82 crore arbitral award rendered in favour of L&T-STEC JV against the Mumbai Metro Rail Corporation Limited (MMRCL) 

The dispute arose from the Mumbai Metro tunnel and station construction. The tribunal awarded ₹229.56 crore GST and ₹21.26 crore for additional works; MMRCL challenged it as perverse, seeking an unconditional stay.

The Court, finding no apparent perversity, held that a stay would operate only upon deposit of the entire amount with interest within eight weeks.

[Mumbai Metro Rail Corporation Limited v. L&T-STEC JV, Mumbai].