Stay or Pay: Decoding the Deposit Dilemma in Staying Arbitral Awards
Earlier this year, the Bombay High Court in Balmer Lawrie & Co. Ltd. v. Shilpi Engineering Pvt. Ltd. (“Balmer Lawrie Decision”) reviewed an application to stay the enforcement of an arbitral award for payment of money (“Money Award”). The award debtor (“Applicant”) had already provided a 100% bank guarantee for the Money Award amount (plus…