Arbitration matter -- Essar House Private directed to deposit an amount of Rs.35.5 crores with the Prothonotary and Senior Master of the High Court or, in the alternative, to furnish bank guarantee of any nationalised bank for the entire amount along with interest thereon – Prima facie, the refundable security deposit is not being released to Arcellor on the purported ground of a convoluted series of internal arrangements between group companies for diversion of the security deposits towards liquidation of alleged dues of Essar Steel to third parties -- No infirmity in the well-reasoned judgment and order of the Division Bench -- Appeals dismissed.

(SC) Decided on : 14.09.2022