Delhi High Court - Orders
Iifl Insurance Brokers Limited vs Golden Falcon Industries Limited & Anr on 24 November, 2020
Author: Rekha Palli
Bench: Rekha Palli
via video conferencing
$~5
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P. (COMM) 551/2020
IIFL INSURANCE BROKERS LIMITED ..... Petitioner
Through: Mr. Sudhir Nandrajog, Sr. Adv. with
Mr. Robin David, Mr. Dhiraj Philip and
Mr.Samuel David, Advs.
versus
GOLDEN FALCON INDUSTRIES LIMITED & ANR.
..... Respondents
Through: Mr. Chetan Anand and Mr. Akash
Srivastava, Advs.
Ms. Deepti Jain, AR of respondent no.2.
CORAM:
HON'BLE MS. JUSTICE REKHA PALLI
ORDER
% 24.11.2020 I.A. 10899/2020 (exemption)
1. Allowed, subject to all just exceptions. O.M.P. (COMM) 551/2020 & I.A. 10900/2020 (delay)
2. This is a petition under Section 34 of the Arbitration and Conciliation Act, 1996 ('the Act') assailing the award dated 14.02.2020 passed by the learned sole Arbitrator.
3. Learned senior counsel for the petitioner submits that the learned arbitrator, even after noticing the fact that a tripartite sub-lease agreement had been entered into between the parties Signature Not Verified Digitally Signed By:SANDEEP KUMAR Signing Date:25.11.2020 02:55 including the respondent-lessor itself, has erroneously fastened the liability of paying the entire rent in respect of the premises, even after 01.01.2017, on the petitioner.
4. Issue notice. Mr. Chetan Anand, Advocate accepts notice on behalf of respondent no.1 and Ms. Deepti Jain, the authorised representative of respondent no.2 accepts notice on behalf of respondent no.2. They pray for and are granted four weeks' time to file a reply. Rejoinder thereto, if any, be filed within four weeks thereafter. Both sides are directed to file, along with their respective pleadings, short written submissions not running into more than seven pages with specific reference to the relevant extracts of the award and judgments on which they wish to rely.
5. At request, list on 22.03.2021.
I.A. 10898/2020 (stay)
6. This is an application filed by the petitioner seeking stay of the arbitral award.
7. Issue notice. Mr. Anand and Ms. Deepti Jain, authorized representative of the respondent no.2 accept notice on behalf of the respondents nos.1 and 2 respectively. Mr. Anand, on instructions from the respondent no.1, submits that he has no objection to the award being stayed during the pendency of the petition, subject to the petitioner depositing the entire awarded amount with up to date interest.
8. The application is, accordingly, disposed of by directing that subject to the petitioner depositing, with the Registrar General of this Signature Not Verified Digitally Signed By:SANDEEP KUMAR Signing Date:25.11.2020 02:55 Court, the awarded amount with up to date interest within a period of six weeks, the operation of the impugned award shall remain stayed during the pendency of the present petition.
9. The application is disposed of.
REKHA PALLI, J.
NOVEMBER 24, 2020 'sdp' Signature Not Verified Digitally Signed By:SANDEEP KUMAR Signing Date:25.11.2020 02:55