SC modifies Bombay HC order, MMRCL spared ₹250-crore upfront payment

The Supreme Court has modified a Bombay High Court order, easing conditions for Mumbai Metro Rail Corporation Ltd (MMRCL) to stay an arbitral award. MMRCL will not need to deposit the full ₹250.82 crore award but must provide an undertaking detailing its properties and commit to payment within eight weeks if L&T–STEC JV ultimately succeeds.