Hindustan Copper Limited (HCL) has received an update regarding the arbitration award against it. The Commercial Court in Jabalpur has granted a conditional stay on the operation of the award, vide its order dated 16.09.2026. The conditions include depositing 50% of the award amount via Bank Guarantee and the remaining 50% plus expenses through a bond supported by an Asset Valuation Report. The court will hear HCL’s Section 34 application post-deposit.
Commercial Court Grants Conditional Stay on Arbitration Award
Hindustan Copper Limited (HCL) has announced a significant development concerning an arbitration award previously passed against the company. In a communication dated 22.09.2026, HCL informed stakeholders that the Commercial Court, Jabalpur, has issued an order granting a conditional stay on the operation of the arbitration award.
Key Conditions for the Stay
The court’s order, received on 21.09.2026, specifies the following conditions that HCL must meet for the stay to remain effective:
- Deposit of 50% of the arbitration award amount, to be secured in the form of a Bank Guarantee.
- The remaining 50% of the award value, along with associated expenses, must be submitted in the form of a bond. This bond needs to be backed by an Asset Valuation Report and presented to the execution court. A crucial condition attached is that this amount will be deposited in the court whenever directed by the Execution Court, failing which the company’s properties may be attached and sold.
Further Legal Proceedings
Following the fulfillment of these conditions, the above court will proceed to hear HCL’s application filed under Section 34 of the Arbitration & Conciliation Act, 1996. The company has confirmed that there are no other developments regarding this specific matter.
Settlement and Litigation Status
In response to queries regarding the status of litigation against key management personnel or promoters, HCL stated that the matter is Not Applicable. Similarly, concerning the event of settlement, the company indicated it is None, as the matter is sub-judice.
Source: BSE
