Supreme Court - Daily Orders
Iirf India Realty Xi Limited vs Hbs Realtors Private Limited on 26 November, 2021
Bench: Sanjiv Khanna, Bela M. Trivedi
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IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. OF 2021
(ARISING OUT OF SLP (C) NO. 14441/2021
IIRF INDIA REALTY XI LIMITED & ANR. Petitioner(s)
VERSUS
HBS REALTORS PRIVATE LIMITED & ANR. Respondent(s)
O R D E R
Leave granted.
As a limited issue arises for consideration and the order we are passing, we need not dwell on the facts of the case, and refer to the arbitration proceedings, including the order of the sole arbitrator dated 24.05.2021, and the order dated 04.08.2021 passed by the High court of Judicature at Bombay in the Arbitration Petition (L) No. 13466 of 2012.
Having considered the contentions and issues raised before us, we direct that the appellant(s) i.e. IIRF India Realty XI Limited and Vistra ITCL (India) Limited are entitled to appoint an observer under and in terms of clause 10.6 of Investment Agreement dated 21.09.2009. However, the appointment itself would not entitle the observer to participate and represent Wondervalue Realty Developers Private Limited in the arbitration proceedings in re Shiv Prerana Signature Not Verified Digitally signed by Indu Marwah Date: 2021.11.29 and Shiv Shahi Project.
12:01:23 IST Reason:
We further direct that in case the respondent(s), i.e. HBS 2 Realtors Private Limited/Wondervalue Realty Developers Private Limited intend to enter into a settlement or withdraw claim(s), they would furnish the relevant papers including the copy of the draft settlement agreement, application etc. to the appellants at least seven days before the documents/papers are signed, executed and filed before the authorities/the learned arbitrator. Upon the paper being given, it will be open to the appellant(s) to raise their concerns, grievance and objection, if any. It will also be open to the appellant(s) to approach the learned arbitrator by way of an application seeking appropriate relief, including interim relief. If such application is filed, then notwithstanding the orders dated 24.05.2021 and 04.08.2021, the same would be considered in accordance with law and as per the Investment agreement dated 21.09.2009.
The appeal is disposed of in the aforesaid terms. Pending application(s), if any, stand disposed of.
. . . . . . . . . . . . . J.
(SANJIV KHANNA) . . . . . . . . . . . . . J.
(BELA M. TRIVEDI) NEW DELHI;
NOVEMBER 26, 2021
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ITEM NO.41 Court 16 (Video Conferencing) SECTION IX
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s). 14441/2021
(Arising out of impugned final judgment and order dated 04-08-2021 in APL No. 13466/2021 passed by the High Court of Judicature at Bombay) IIRF INDIA REALTY XI LIMITED & ANR. Petitioner(s) VERSUS HBS REALTORS PRIVATE LIMITED & ANR. Respondent(s) (FOR ADMISSION and I.R. and IA No.116635/2021-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT and IA No.116633/2021-PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES ) Date : 26-11-2021 This petition was called on for hearing today. CORAM : HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MS. JUSTICE BELA M. TRIVEDI For Petitioner(s) Dr. Abhishek Manu Singhvi, Sr. Adv.
Mr. Mahesh Agarwal, Adv.
Ms. Niyati Kohli, Adv.
Mr. Pranjit K Bhattacharya , Adv.
Mr. Rohan Talwar, Adv.
Ms. Manavi Agarwal, Adv.
Mr. E. C. Agrawala, AOR For Respondent(s) Mr. Shyam Divan, Sr. Adv.
Mr. Mohan Jayakar, Adv.
Mr. Mehul M. Gupta, Adv.
Mr. Nikhil Wable, Adv.
Mr. Priyank Daga, Adv.
Mr. R. P. Gupta, AOR UPON hearing the counsel the Court made the following O R D E R Leave granted.
The appeal is disposed of in terms of the signed order. Pending application(s),if any, stand disposed of. (BABITA PANDEY) (ANITA RANI AHUJA) COURT MASTER (SH) ASSISTANT REGISTRAR (Signed order is placed on the file)