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IN THE HIGH COURT OF DELHI AT NEW DELHI
SANJEEV SACHDEVA, J.
Piscesia Power Transmission Pvt. Ltd - Appellant
Versus
Savronik Elektronik Sanayi Ve Ticaret A.S. - Respondent
O.M.P.(I) (COMM.) 37 of 2022
Decided on : 17-05-2022
Arbitration and Conciliation Act, 1996 - Section 9 - Obligations - Seeks interim measures - Parties emanate - Limited liability partnership - Disputes between parties emanate out of limited liability partnership agreement - Petition parties have settled their disputes and Settlement Agreement has been executed - Parties shall duly perform their respective obligations under settlement agreement (Para 3).
Finding of the Court :
Undertake that parties shall duly perform their respective obligations under settlement agreement - Court have perused terms of agreement and find same to be lawful - Parties shall remain bound by their undertaking given to this Court.
Results: Petition disposed.
JUDGMENT :
SANJEEV SACHDEVA, J.
1. Petitioner seeks interim measures under Section 9 of the Arbitration and Conciliation Act, 1996. The disputes between the parties emanate out of the limited liability partnership agreement dated 26.06.2020. During the pendency of this petition parties have settled their disputes and Settlement Agreement dated 08.05.2022 has been executed.
2. Mr. Vivek Yadav, the Managing Director of the petitioner company is connected through VC. Mr. Kavi Nehra, authorized representative who has been duly authorized by way of power of attorney dated 22.04.2022 is also connected through VC. They both confirm the settlement agreement.
3. They undertake that the parties shall duly perform their respective obligations under the settlement agreement dated 08.05.2022.
4. I have perused the terms of the agreement and find the same to be lawful.
5. In view of the above, the Petition is disposed of in terms of the Deed of Settlement dated 08.05.2022. Parties shall remain bound by their undertaking given to this Court. The Settlement Agreement dated 08.05.2022 shall form part of this order.
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