J U D G M E N T

DINESH KUMAR SHARMA, J:

EX.APPL.(OS) 940/2023, EX.APPL.(OS) 941/2023, EX.APPL.(OS)

942/2023 in OMP (ENF.) (COMM.) 159/2019 (A) BRIEF FACTS:

1. The present applications bearing EX.APPL.(OS) 940/2023 has been filed on behalf of Judgment Debtor No.1 under Section 47 and Order XXI Rule 2 (2) read with Section 151 CPC seeking order certifying adjustment, discharge and satisfaction of the Award, and disposing of the proceedings in OMP (ENF.) (COMM.) 159/2019 and application bearing EX.APPL.(OS) 941/2023 filed on behalf of Judgment Debtor No.1 under Section 47 read with Section 151 CPC seeking necessary directions and application bearing EX.APPL.(OS) 942/2023 filed on behalf of Judgment Debtor No.1 under Section 5 of the Limitation Act, EX.APPL.(OS) 940-42/2023 in OMP (ENF.) (COMM.) 159/2019 Page 2 of 57 Signature Not Verified

1963 read with Section 151 CPC seeking condonation of delay in filing the application under Section 47 and Order XXI Rule 2(2) read with Section 151 CPC.

2. Facts as briefly stated are that a joint venture agreement was executed between “Landmark Group” and “Ansal Properties and Infrastructure Limited” to carry out various activities relating to real estate. The joint venture company was named as Ansal Landmark Township Pvt. Ltd. (ALTPL). The main object of the Joint Venture Agreement was development of real estate projects in Meerut, Ghaziabad and Karnal. In the year 2011, in order to settle certain disputes between the parties a Term Sheet dated 21.12.2011 and Business Transfer Agreement dated 02.04.2012 was executed between the parties, which, inter alia, provides for the terms and conditions under which the entire operations with respect to the Karnal Project, were to be transferred to Ansal Landmark Karnal Township Pvt. Ltd. (ALKTPL), which is part of the Landmark Group. However, subsequently, certain disputes arose between the parties and the same were referred to arbitration, wherein late Mr. Justice Ramesh Chandra Lahoti (Retd.), Former Chief Justice of India passed an Arbitral Award dated 07.09.2018 as corrected on 17.09.2018 and 13.11.2018 against the Judgment Debtor No.1. This award was challenged by the Judgment Debtor vide O.M.P. (COMM) 68/2019 under Section 34 of the Arbitration and Conciliation Act. The Decree Holder also filed the Enforcement petition bearing OMP (ENF.) (COMM.) 159/2019 under Section 36 of the Arbitration and Conciliation Act seeking execution of the award passed by the learned EX.APPL.(OS) 940-42/2023 in OMP (ENF.) (COMM.) 159/2019 Page 3 of 57 Signature Not Verified Sole Arbitrator.

3. While the matter rested thus, the applicant / Judgment Debtor moved the present applications in OMP (ENF.) (COMM.) 159/2019 praying therein that an order may be passed recording and certifying adjustment, discharge and satisfaction of the Impugned Award made by the Judgment Debtors towards the award dated 07.09.2018 as rectified on 17.09.2018 and 13.11.2018 and to discharge the Judgment Debtors from these proceedings and disposing of the proceedings in OMP (ENF.) (COMM.) 159/2019. In alternative the prayer was made that the OMP (ENF.) (COMM.) 159/2019 be dismissed on account of the Decree Holders unconditional waiver and abandonment of the award in terms of Undertaking Letter dated 21.03.2023. The prayer was also made to stay the operation of the award dated 07.09.2018 as rectified by order dated 17.09.2018 and 13.11.2018 and the present execution proceedings during the pendency of the present petitions.

4. The applicant submitted that in October 2022 the settlement talks were initiated at the instance of the representatives of the Respondents/ Decree Holders, namely Mr. Aryaman Dalmia, son of Mr. Gaurav Dalmia and Mr. Sanjeev Malhotra, an official of the Landmark Group with the Judgment Debtors. In February 2023 parties started final discussions and negotiations qua settlement of the disputes between the parties including the present enforcement proceedings with Mr. Indeep Singh as a me