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Global Energy Pvt. Ltd vs Valuelabs Llp on 11 May, 2022

Author: Sanjeev Narula

Bench: Sanjeev Narula

                          $~12
                          *      IN THE HIGH COURT OF DELHI AT NEW DELHI
                          +      ARB.P. 132/2019
                                 GLOBAL ENERGY PVT. LTD.                                ..... Petitioner
                                                    Through:       None.

                                                    versus

                                 VALUELABS LLP                                        ..... Respondent
                                                    Through:       Mr. Saket Singh, Advocate.

                                 CORAM:
                                 HON'BLE MR. JUSTICE SANJEEV NARULA
                                                    ORDER

% 11.05.2022

1. There is no appearance on behalf of the Petitioner since 30th January, 2021. Today also, no one appears on their behalf.

2. Counsel for the Respondent informs the Court that the Petitioner - Global Energy Pvt. Ltd. - is undergoing corporate insolvency resolution proceedings under the NCLT, Mumbai Bench, which have been initiated at the instance of the Respondent itself.

3. He states that a moratorium is in place vide its order dated 02nd December 2019 in CP 2520/2018.

4. Vide order dated 05th February 2020, one Mr. Arun Jain has been appointed as the Insolvency Resolution Professional.

5. Further, on merits, he submits that the present petition is beyond the jurisdiction of this Court, as the parties are governed by the provisions of Electricity Act, 2003 which, being a special statute, prevails over the general law of the Arbitration and Conciliation Act, 1996. In this regard, he places reliance upon Gujarat Urja Vikas Nigam Ltd. v. Essar Power Ltd.1

6. In view of the foregoing, Registry is directed to issue court notice to the Resolution Professional Mr. Arun Jain. Counsel for the Respondent shall provide the details of the Resolution Professional to the Registry.

7. List on 27th July, 2022.

SANJEEV NARULA, J MAY 11, 2022 nk 1 (2008) 4 Supreme Court Cases 755.