India, Oct. 25 -- The Bombay High Court has refused to stay a June 2025 arbitral tribunal order directing the Mumbai Metro Rail Corporation Limited (MMRCL) to pay Rs.250 crore to the L&T-STEC joint venture company which designed and constructed tunnels and stations for the metro rail network.

The arbitration award was neither "facially untenable", nor "undermined by patent illegalities", a single judge bench of Justice Somasekhar Sundaresan observed on October 10 and directed the MMRCL to deposit the amount within eight weeks. The court also allowed L&T-STEC to withdraw the amount along with accruals by providing an unconditional bank guarantee for the same amount.

The dispute between the two companies arose over a contract awarded to L...