EC-COM/350/2025 of M/S CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED Vs TULIP ENTERPRISE AND ORS on 8 October 2026

OCD-62 ORDER SHEET

IN THE HIGH COURT AT CALCUTTA COMMERCIAL DIVISION ORIGINAL SIDE

EC-COM/350/2025

IA NO: GA-COM/1/2026

M/S CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED VS TULIP ENTERPRISE AND ORS.

BEFORE: The Hon’ble JUSTICE GAURANG KANTH Date : 8th October, 2026. Appearance: Mr. Ranjit Singh, Adv. Ms. Tutul Das, Adv. Mr. Amar Singh, Adv. Ms. Subharchita Mukherjee, Adv. Ms. Shweta Bali, Adv. ...for the award-holder

The Court: The present execution petition has been filed by award- holder for execution of an award dated 3rd February, 2025 which is a unilateral award. Learned Counsel for the award-holder seeks permission to withdraw the present execution petition with liberty to file appropriate proceedings in accordance with law. In view of the decision rendered by the Hon’ble Supreme Court in Bhadra International (India) Pvt. Ltd. & Ors. v. Airports Authority of India reported as 2026 SCC OnLine SC 7 as well as the judgment dated 14.05.2026 passed by this Court in EC-COM-334 of 2026, the present award is a non-est award in the eyes of law and is incapable of execution.

2 In view of the same, the present execution petition along with the connected application are dismissed as withdrawn, with liberty reserved in favour of the award-holder to initiate fresh arbitral proceedings before a duly and validly constituted Arbitral Tribunal, appointed in accordance with law.

(GAURANG KANTH, J.)

S. A. AR (CR)