JUDGMENT

Sanjeev Narula, J. - I.A. No. 15500/2022 (u/Order VII Rule 10 r/w Section 151 of the Code of Civil Procedure, 1908, for return of the petition)

1. Respondent (Claimant in the arbitration proceedings) invokes Order VII Rule 10 of the Code of Civil Procedure, 1908 ("CPC") and seeks return of the petition on ground of lack of pecuniary jurisdiction of this Court entertain this Petition. On 13th February, 2023, this Court had referred the matter to the Joint Registrar ("JR") for computation of Specified Value. Accordingly, vide order dated 19th July, 2023 ("JR Order"), the JR has ascertained the Specified Value to be INR 1,79,08,623.63. The Petitioner contests this valuation, asserting that the determination is erroneous as it fails to consider several crucial components, which, if accounted for, could significantly impact the calculated Specified Value. In light of these conflicting positions, this Order will address and decide upon the issue of the Specified Value and the Court's pecuniary jurisdiction.

Background

2. Section 5(2) of the Delhi High Court Act, 1966 ("DHC Act") defines the ordinary original civil jurisdiction of this Court. According to this provision, the jurisdic