MOHAMMED BADRUL ALAM Vs. INDUSIND BANK LIMITED
LAWS(CAL)-2019-6-160
HIGH COURT OF CALCUTTA
Decided on June 17,2019

Mohammed Badrul Alam Appellant
VERSUS
INDUSIND BANK LIMITED Respondents

JUDGEMENT

Arindam Sinha,J. - (1.) The Court : This arbitration petition is for interim measure. Ms. Gandhi, learned advocate moves the petition.
(2.) She submits with reference to page 17, being statement of account as on 13th January, 2018, a document issued by respondent financier, aggregate of finance amount and interest charges is Rs.22,21,784/-. In addition aggregate sum of Rs.2,61,546/- was added by financier on account of insurance. She demonstrates from the statement, aggregate sum of Rs.23,42,780/- was paid by her client, by instalments in repayment of the accommodation. She submits, this is prima facie satisfaction rendered that her client paid more than contractual repayment amount. Even then financier took possession of the vehicle. Mr. Sengupta, learned advocate appearing on behalf of respondent financier submits, there has been award made. On query from Court he submits, he does not have instruction regarding execution levied pursuant to the award.
(3.) A Division Bench of this Court by order dated 8th April, 2019 in APOT 31 of 2019 (Oracle Marketing Private Limited Vs. Julfikar Ali @ Zulfikar Ali) took following view:- "Although under section 17(1) the arbitral tribunal appears to have been vested with the power to pass interim order after the making of the arbitral award but before it is enforced, in our view, on a harmonious reading of the said provisions, the arbitral tribunal cannot pass any interim order once it becomes functus officio under section 32 save and except for the limited purpose for correction and interpretation of the award and/or additional award as provided under section 33 of the Arbitration and Conciliation Act, 1996. Once the arbitral tribunal becomes functus officio, any remedy has to be obtained under section 9 of the Arbitration and Conciliation Act." ;


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