The Calcutta High Court has granted an unconditional stay on the operation of a Rs 1,301 crore arbitration award won by Rashmi Metaliks Ltd against the South Eastern Railway (SER). It has observed that, prima facie, the same has been obtained through fraud and corruption by procuring silence of certain Railways officers who did not produce evidence to oppose the claims. Further, within 3 months of original arbitration award for Rs 325 crore, the arbitrator issued a correction order for an amount of Rs 1,301 crore on the ground of typo error.
