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GOVERNMENT OF WEST BENGAL & ANOTHER vs. ESSEX DEVELOPMENT INVESTMENTS (MAURITIUS) LTD.
(Calcutta High Court)

Hon'ble Judges:

KRISHNA RAO

Pet. Counsel

Kishore Dutta

Jishnu Saha

Sidharth Sethi

Res. Counsel

Sudipto Sarkar

Rantanko Banerjee

Arunabha Deb

Petitioner / Applicant	GOVERNMENT OF WEST BENGAL & ANOTHER
Respondent	ESSEX DEVELOPMENT INVESTMENTS (MAURITIUS) LTD.
Court	Calcutta High Court
State	West Bengal
Date	Jul 12, 2024
Order No.	A. P. (COM) 28 of 2023 With IA No. G. A. (COM) 1 of 2024
Citation	2024(7) TAXREPLY 10229
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ORDER
JUDGMENT KRISHNA RAO, J.: 1. This is an application filed by the Government of West Bengal and West Bengal Industrial Development Corporation Limited (hereinafter referred to as “WBIDC”) under Section 36 (2) of the Arbitration and Conciliation Act, 1996, praying for unconditional stay of operation of the Arbitral Award dated 18th September, 2023, passed by the Arbitral Tribunal. 2. On 11th September, 2014, a Share Purchase Agreement was entered between the Government of West Bengal, West Bengal Industrial Development Corporation Limited (hereinafter referred to as “WBIDC”), Chatterjee Petrochem (Mauritius) Company (hereinafter referred to as “CPMC”), Essex Development investments (Mauritius) Limited (hereinafter referred to as “Essex”) and Haldia Petrochemicals Limited (hereinafter referred to as “HPL”). In the said Share Purchase Agreement, the Government of West Bengal agreed to transfer 520 million equity sha....