Gujarat HC gives relief to SDB in PSP claims case
December 14, 2023
Surat: The Gujarat High Court has stayed the lower court order against Surat Diamond Bourse(SDB).
Construction giant PSP company had moved a local court against SDB over claims of Rs. 538 crore pending payment under Arbitration and Conciliation Act section-9. The local court had given relief to PSP company and asked SDB to deposit Rs. 100 crore bank guarantee. However SDB management moved the Gujarat High Court against lower court order, following which, the High Court has stayed the lower court proceeding till December 27.DeshGujarat
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