Delhi High Court - Orders
Rcc Infraventures Limited vs Dmi Finance Private Limited & Anr on 28 August, 2020
Author: Rekha Palli
Bench: Rekha Palli
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(I) (COMM.) 249/2020
RCC INFRAVENTURES LIMITED ..... Petitioner
Through Mr.Gurdeep Singh, Adv.
versus
DMI FINANCE PRIVATE LIMITED & ANR. ..... Respondent
Through Mr.Kinsok Chatterjee & Mr.Kushal
Bansal, Advs for R-1.
Mr.Siddharth Khattar, Adv for R-2.
CORAM:
HON'BLE MS. JUSTICE REKHA PALLI
ORDER
% 28.08.2020 I.A. 7449/2020
1. Allowed, subject to all just exceptions.
O.M.P.(I) (COMM.) 249/2020
2. This is a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking the following reliefs:-
"a) Direct the respondent no.1 company to immediately deposit a payment of Rs 45 crores (initial Rs. 10 crores & Rs.
17.5 crores & Rs.17.5 crores which will be received by Respondent no.2 from NHAI through bills) in the Registry, Delhi High Court;
b) Appoint a responsible person under whose supervision the said deposited money shall be distributed unequivocally to all the vendors as per the MoU dated 5th January 2020 between the Petitioner and Respondents 1 & 2;
c) Restrain both the Respondents from using the machineries and equipments belonging to the petitioner company as per the list attached and direct the Respondents to pay and resolve the issues with the financing agencies within stipulated period of time;
d) Appoint a reputed independent financial agency to monitor the cash flow and fund utilisation of the said project till the liabilities of petitioner company are cleared including all the guarantees given by the petitioner company. The agency be directed to submit monthly report to all the parties to ensure transparency and to avoid siphoning of funds from the said project.
3. After some arguments, learned counsel for the petitioner submits that the petitioner would be satisfied if the present petition is treated as a Section 17 petition and directed to be placed before the learned Arbitral Tribunal, to be appointed for adjudication of disputes, which have arisen between the parties in relation of the Memorandum of Understanding(MoU) and Reconstitution Deed, both dated 05.01.2020. He further submits that the petitioner has already invoked arbitration, but no Arbitral Tribunal till date been appointed and, therefore, this Court may, in the present proceedings itself, appoint an independent Arbitrator for adjudication of the aforesaid disputes between the parties.
4. Learned counsel for the respondents has no objection to the said request.
5. However, it transpires that some of the parties to the MoU dated 05.01.2020, which contains the arbitral clause, have not been impleaded as party in the present petition and, therefore, it will not be appropriate to pass any order in the absence of those parties.
6. At this stage, learned counsel for the petitioner prays for and is granted ten days time to implead M/S RCC Eco-Build System Limited, Mr.Ravi Kumar Jain, Mr.Luv Jain and M/S Insta Con Real Estate Private Limited as parties in the present petition.
7. At request, list on 23.09.2020.
REKHA PALLI, J AUGUST 28, 2020 sr