C.HARI SHANKAR,J. - (1.) Edelweiss Asset Reconstruction Company Ltd. (abbreviated, hereinafter, to "Edelweiss") invokes Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the 1996 Act") to challenge order, dated 17th December, 2019, passed by the learned Arbitral Tribunal, which directed M/s. GTL Infrastructure Ltd. (hereinafter referred to as "GIL") to pay Rs. 240 crores to M/s. GTL Ltd. (hereinafter referred to as "GTL") and to deposit Rs. 200 crores in an Escrow account, to be maintained by GIL.
(2.) Gtl and GIL were the claimant and respondent, before the learned Arbitral Tribunal, respectively. The operative paragraphs of the impugned Order, with which Edelweiss claims to be aggrieved, reads thus: "37. It is accordingly ordered that: (i) The Respondent will pay a sum of Rs. 40 crores to the Claimant before or by 27th December, 2019 towards Security Deposit as contemplated under Clause 4.5 of the Suspension Agreement dated 8th March, 2018. (hereinafter referred to as the "Suspension Agreement") (ii) The Respondent shall pay Rs. 400 crores in accordance with the below mentioned schedule: JUDGEMENT_19_LAWS(DLH)11_2020_1.html (iii) The Claimant shall provide uninterrupted services to the Respondent subject to the terms of payment contained in the two foregoing sub-clauses. 38. The Respondent has agreed to furnish the details of the Escrow Account with the Tribunal as well as the Claimant on or before 27th December, 2019. It is made clear that in the eventuality of any default in adhering to the schedule mentioned above, the Respondent shall become immediately liable for payment of the entire sum of Rs. 400 crores less the unpaid/remaining sum to the Claimant. 39. It is clarified that the present order shall await the Final Award and shall be subject to adjustments in order to conform to the Final Award."
(3.) Edelweiss was not a party before the learned Arbitral Tribunal, but claims to be vitally affected by the impugned directions. In fact, it is claimed, by Edelweiss, that GIL and GTL are in collusion, and that they misled the learned Arbitral Tribunal into passing the impugned Order, suppressing the fact that Edelweiss had a first charge over the monies which GIL has been directed to pay to GTL, or to deposit in the Escrow account.;