Full Text
(COMM.)158/2019
JUDGMENT
21 NUPUR FINVESTPVT LTD Petitioner Through: Mr.P.Nagesh and Mr.HarshalKumar, Advocates versus FORTUNEINFRAHEIGHTPVT.LTD& ORS Respondents Through: Mr.DeepakBiswas,Ms.Reeva Singhal and Ms.Saumya Dua,Advocates + O.M.P.(I)(COMM.)159/2019 22 NUPUR FINVEST PVT LTD Petitioner SHRI ANIL MITHAS& ANR. Respondents Through: Mr.Deepak Biswas,Ms.ReevaSinghal + O.M.P.(I) (COMM.)160/2019 23 NUPUR FINVESTPVT LTD Petitioner Through: Mr.DeepakBiswas,Ms.ReevaSinghal + O.M.P.(I)(COMM.)161/2019 24 NUPUR FINVEST PVT LTD Petitioner 2019:DHC:7652 B + O.M.P.(I)(COMM.)162/2019 25 NUPURFINVESTPVTLTD Petitioner FORTUNErNFRAHEIGHTPVT.LTD.& ORS Respondents CORAM: HON'BLE MR.JUSTICE J.R. MIDHA ORDER % 26.09.2019 9 1. Aftersomehearing,learnedcounselforthepetitionerseekspermission to withdraw these petitions with liberty to approach the learned Arbitrator under Section 17 of the Arbitration and Conciliation Act subject to the condition that the respondent be restrained from disposing of, alienating, encumbering either directly or indirectly or otherwise parting with the possession ofthe assets to the tune ofthe claim amount till the Section 17 application is taken up for hearing by the learned Arbitrator.
2. These petitions are disposed of with liberty to the petitioner to approach the learned Arbitrator under Section 17 of the Arbitration and IP Conciliation Act.
3. The respondents shall notdispose of,alienate,encumber either directly or indirectly or otherwise part with the possession ofthe assets to the tune of the claim amountinthe ordinary course ofbusinesssuch as paymentofsalary and statutory dues till the application under Section 17 ofthe Arbitration and Conciliation Actis taken up by the Arbitrator.
4. Learned counsel for the respondents submitsthatthe respondents have objections to the Arbitrator appointed by the petitioner and the respondents would be invoking appropriate legal remedies in accordance with h w —JTR.MIDHA,J.