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VIBHU BAKHRU
Dlf Home Developers Limite – Appellant
Versus
Shipra Estate Limited – Respondent
| Table of Content |
|---|
| 1. petition under section 9 of a&c act. (Para 1 , 2) |
| 2. factual background regarding property sale and mortgage. (Para 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12) |
| 3. contentions regarding obligations under ats. (Para 37 , 40 , 43 , 46 , 48) |
| 4. concept of distinct assets in secured transactions. (Para 50 , 51 , 52 , 53 , 54) |
| 5. specific performance and rights under ats after long stop date. (Para 57 , 59 , 70 , 72) |
| 6. interim measures to protect subject property during arbitration. (Para 96 , 117 , 120) |
| 7. final order and disposal of the petition. (Para 121) |
JUDGMENT
Vibhu Bakhru, J. - Introduction
1. The petitioner (hereinafter DLF) has filed the present petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter the A&C Act) inter alia, praying that the respondents be restrained from selling, transferring, alienating or otherwise creating any third-party rights or interest, directly or indirectly, in the land admeasuring 73 acres [2,95,421 square meters] situated in Sector 128, Noida, District Gautambudh Nagar, Uttar Pradesh (the Sale Property), which is the subject matter of the Agreement to Sell dated 30.05.2021 (hereinafter the ATS).
2. Respondents nos
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