IMPORTANT POINT
Upon termination of agreements, the respondent had no right to use the brand/marks, and the petitioners were within their rights to seek an injunction. Delay in approaching the court did not defeat the rights of the petitioners.

JUDGMENT

1. The present petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 (the `Act.) seeks the following reliefs:

"(a) Pass an order thereby restraining the Respondent from using the Trade Marks World Trade Centre, Faridabad; WTC, Faridabad and WTC Logo or any other trademark identical with or deceptively similar thereto, in any manner whatsoever.

(b) Pass an order thereby directing the Respondent to display hoardings, for such period which this Hon'ble Court may deed fit and proper, at conspicuous places at the sites of its Project named `RPS Infinia' and `12th Avenue' informing public that none of those projects have any connection with World Trade Centre.

(c) Pass an order thereby restraining Respondent from conducting any sale/booking of any Unit in its Projects named `RPS Infinia' and `12th Avenue' for such period which this Hon'ble Court may deem fit and proper so that trade and public may disassociate the said trademarks (World Trade Centre, Faridabad; WTC, Faridabad and WTC Logo) from respondent;

(d) Pass an order thereby directing the Respondent herein to deposit an amount of Rs.31,30,71,753/- (Rupees Thirty-One Crore Thirty Lac Seventy-One Thousand Seven Hundred and Fifty-Three only) towards its outstanding dues owed to the Petitioner No.1 and a sum of Rs.1,75,99,773/- (Rupees One Crore Seventy Five Lakh Ninety Nine Thousand Seven Hundred Seventy Three only) towards its outstanding dues owed to the Petitioner No.2;

Or in the alternative

(e) Pass an order thereby directing the Respondent herein to furnish a security of the like amounts as mentioned above in order to secure the claims of the Petitioners;

(f) Pass any other such orders as this Hon'ble Court may deem fit and proper in the facts and circumstances of the case."

Factual Matrix

2. Briefly stated, the facts are that the respondent is the developer of a Project being developed at land measuring 7.587 acres situated at Sector-27C,Village Sarai Khwaja, Faridabad (the `Project.). In the year 2010, the respondent launched the said project under the name of "RPS Infinia". The respondent in the month of May, 2021 approached the petitioners for availing their services including branding services and services for making sales of the balance inventory. After negotiations, the respondent and petitioner no.1 entered into a "Memorandum of Understanding" (the `MOU') dated 28.06.2021 in respect of the said Project. Pursuant to the MOU, on the same date, the respondent and petitioner no.2 entered into a "Consultancy Agreement for Brand and Business Development Related Services" dated 28.06.2021 and the Respondent and petitioner no.1 entered into a "Consultancy Agreement for Marketing, Distribution and Sales Advisory Services" dated 28.06.2021.

3. By virtue of the MOU and Agreements dated 28.06.2021, the Project "RPS Infinia" was to be rebranded as WTC Faridabad alongwith the concept name defined by the respondent. The petitioners represented to have rights to the said brand/mark; further the respondent was not to have any right or claim or interest in any brand/mark associated with the petitioners. In this regard, the MOU contains the following stipulations:

"2. PROJECT BRANDING:

2.1. The Project is presently named "RPS lnfinia" and is registered with said name with Haryana Real Estate Regulatory Authority and the Developer has understood and agreed to rebrand the Project.

2.2. The Project and any adjacent expansion shall be branded as WTC Faridabad along with the concept name defined by the Developer in its entirety.

2.3. The Developer has clarified its desire for the high street retail concept to be promoted along with the concept name defined by the Developer (12th Avenue) equally in all branding relating to the Project.

2.4. Both parties have agreed that they will work mutually with a marketing agency towards a final branding nomenclature and hierarchy such that the views of both parties are achieved in the interests of the success of the Project (s)

2.5. Trad