JUDGMENT

V. Kameswar Rao, J.

I.A. 4802/2022 in O.M.P.(I) (COMM.) 136/2021

This is an application filed by the petitioner seeking condonation of 41 days' delay in filing the rejoinder-affidavit.

For the reasons stated in the application, the delay is condoned and the rejoinder-affidavit is taken on record.

Application stands disposed of.

O.M.P.(I) (COMM.) 136/2021

1. The captioned petitions have been filed by the petitioners under Sections 9 and 11 of the Arbitration and Conciliation Act, 1996 (`Act of 1996', hereinafter) respectively. As the petitions arise from the same factual matrix, I shall proceed to decide them together.

2. The petitioner herein is Vistra ITCL (India) Private Limited, formerly known as IL&FS Trust Company Limited and the respondent is Ansal Properties & Infrastructure Limited (`APIL', for short).

FACTS LEADING UP TO THE PETITIONS

3. A project was undertaken by the respondent involving development of a Group Housing Project, spread over 41.16 acres situated in Ghaziabad, Uttar Pradesh. The project was implemented by an entity called Ansal Urban Condominiums Private Limited (hereinafter referred to as "Principal Borrower" and "AUCPL" interchangeably). The Principal