Delhi High Court - Orders
Sh. Hari Krishan Aggarwal vs Technology Development Board on 22 July, 2022
Author: V. Kameswar Rao
Bench: V. Kameswar Rao
$~37
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P. (COMM) 301/2022, I.As. 11377/2022, 11378/2022 &
11379/2022
SH. HARI KRISHAN AGGARWAL
..... Petitioner
Through: Mr. Prateek Gupta and Ms. Megha
Aggarwal, Advs.
versus
TECHNOLOGY DEVELOPMENT BOARD
..... Respondent
Through:
CORAM:
HON'BLE MR. JUSTICE V. KAMESWAR RAO
ORDER
% 22.07.2022 I.A. 11377/2022 (for exemption) Exemption allowed subject to all just exceptions. Application stands disposed of.
I.A. 11379/2022 (for delay) This is an application filed by the petitioner seeking condonation of four days delay in re-filing the petition.
For the reasons stated in the application, the delay of four days in re- filing the petition is condoned and the application is disposed of. O.M.P. (COMM) 301/2022, I.A. 11378/2022
1. The challenge in this petition under Section 34 of the Arbitration and Conciliation Act, 1996 is to an award dated October 06, 2021 passed against the respondents (therein) including the petitioner herein, who according to the learned counsel for the petitioner, was the guarantor for the loan Signature Not Verified Digitally Signed By:ASHEESH KUMAR YADAV Signing Date:27.07.2022 18:30:45 borrowed by M/s. Intemo System Private Limited.
2. He has drawn my attention to page 66 to contend that in terms of the Agreement-Cum-Counter Guarantee executed by the petitioner, the petitioner had extended the collateral in the nature of a property for the loan advanced to M/s. Intemo System Private Limited. The agreement clearly stipulates that the same shall be valid for a period of two years from the date of the agreement.
3. According to the learned counsel for the petitioner, the agreement having been executed on March 28, 2014 had expired in the year 2016, as such no liability could have been fastened upon the petitioner thereof.
4. He has also drawn my attention to the reply filed by the petitioner before the learned Arbitrator. It is his submission, the learned Arbitrator has not even considered this plea before fastening the liability on the petitioner.
5. Issue notice to the respondent, returnable on December 01, 2022.
V. KAMESWAR RAO, J JULY 22, 2022/aky Signature Not Verified Digitally Signed By:ASHEESH KUMAR YADAV Signing Date:27.07.2022 18:30:45