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IN THE HIGH COURT OF DELHI
Sanjeev Sachdeva, J.
Ram Lubhaya Narang - Appellant
Versus
Royaloak Infrastructure LLP - Respondent
O.M.P.(I) (COMM.) 86 of 2022 & I.A. 4205 of 2022 and Arb.P. 333 of 2022 & I.A. 4206 of 2022
Decided On : 13-04-2022
| Table of Content |
|---|
| 1. interim protection sought by landlords and arbitration petition filed. (Para 1 , 2 , 3) |
| 2. settlement agreement acknowledged and arbitration petition withdrawn. (Para 4 , 5) |
| 3. case disposed of per settlement agreement. (Para 6 , 7) |
JUDGMENT
Sanjeev Sachdeva, J. (Oral)--OMP (I) (COMM) 86/2022 has been filed by the petitioners who are the landlords of K-1/44, WHS, Kirti Nagar, New Delhi against the respondent who are their tenants seeking certain interim protection.
2. Arbitration Petition 333/2022 is a petition seeking appointment of an arbitral tribunal in terms of the lease deed dated 16.04.2021.
3. Respondent is represented through Mr. Manne Nagender Rao who is the head of the business development and acquisition who has been duly authorised by resolution of the Board of Directors dated 12.04.2022 to appear in the proceedings and also settle on behalf of the respondents.
4. Parties have entered into a settlement agreement dated 12.04.2022. Mr. Mohit Narang as well as Mr. Manne Nagender Rao are present in person. They confirm their signatures on the said agreement and undertake that they shall remain bound by the terms and conditions thereof. A copy of the settlement agreement as well as the resolution of the Board of Directors has been filed in Court. Same is taken on record.
5. Learned counsel for petitioner submits that in view of the settlement petitioner does not press Arbitration Petition 333/2022 and accordingly seeks leave to withdraw the same.
6. Arbitration Petition 333/2022 is dismissed as withdrawn.
7. OMP (I) (COMM) 86/2022 is disposed of in terms of the settlement agreement. Parties shall remain bound by the terms and conditions.
When parties reach a settlement agreement, related arbitration petitions may be dismissed or disposed of, as the agreement supersedes the need for further litigation.
The main legal point established in the judgment is the court's authority to refer parties to mediation, appoint an arbitrator, and allow further interim measures of protection under Section 9 of the....
The central legal point established is the arbitrability of the dispute as per the terms of the Lease Deed and the court's authority to appoint an arbitrator under Section 11(6)(a) of the Arbitration....
The central legal point established in the judgment is the appointment of a Sole Arbitrator in accordance with the arbitration clause, the objection to unilateral appointment, and the agreement betwe....
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