Case Law Analysis
|Punjab and Haryana High Court
Section 36(2) Arbitration Act | 50% Award Withdrawal Mandates Bank Guarantee, Not Unconditional Release : Punjab & Haryana HC
Punjab & Haryana HC rules that under Section 36(2) of the Arbitration and Conciliation Act, 1996, withdrawal of 50% of an arbitral award requires a bank guarantee as security. The court clarifies that unconditional release is impermissible, reinforcing creditor protection in execution proceedings.