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2021 Supreme(Del) 515

SURESH KUMAR KAIT
DLF Home Developers Ltd. – Appellant
Versus
Shipra Estates Ltd – Respondent


Advocates Appeared:
For the Petitioner:Mr. Pinaki Misra, Senior Advocate with Mr. Jatin Mongia, Ms. Meghna Mishra, Mr. Ankit Rajgarhia, Mr. Arjit Benjamin & Ms. Aishwariya Chaturvedi, Advocates.
For the Respondents:Ms. Gauri Rishi, Ms. Srishti Juneja & Mr. Sanampreet Singh, Advocates, Mr. Rajiv Nayar, Senior Advocate with Mr. Rishi Agrawala, Mr. Manish K. Jha, Mr. Karan Luthra, Mr. Ankit Banati, & Ms. Vishrutyi Sahni, Advocates.

JUDGMENT :

The hearing has been conducted through video conferencing.

I.A. 10082/2021 (u/S 149 r/w Sec. 151 CPC)

1. The application is allowed with direction to file requisite notarized affidavit, court fees and process fees within six weeks.

ARB.P. 762/2021 & I.A. 10080-81/2021(exemption)

2. The present petition has been preferred under the provisions of Section 11(6) of the Arbitration and Conciliation Act, 1996 by the petitioner-a company incorporated under the Companies Act, 1956 to resolve the dispute with respondents.

3. Respondent No. 1 is a private company and respondent No.2, again a private company, is wholly owned subsidiary of respondent No.1. Respondent No.3 is the Promoter of respondent No.1. Respondent No.4 is a limited company.

4. The dispute amongst the parties pertains to a piece of land admeasuring 73 acres [2,95,421 square meters] situated in Sector 128, Noida, District Gautam budha Nagar, Uttar Pradesh. According to petitioner, respondent No.2 is the sub-lessee of the land in question, which was mortgaged with respondent No.4 to obtain loan for respondent No.1. Petitioner entered into an Agreement to Sell dated 30.05.2021 with respondent Nos. 1 to 4 with respect to th

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