Mamta Jain& Anr v. M/S Fullerton India Credit Co Ltd

ORDER %

29.07.2013 Mr Sanjeev Sagarhas enteredappearanceon behalf of the respondent. Mr Sanjay Jain, learned senior counsel for the respondent, on instructions, submits that the issues have been framed by the learned arbitrator and the matter is at the stage of claimanfs evidence. He submits that the matter is likely to be concludedat an early date providedthe petitionersparticipate dutifullyin the arbitrationproceedings. Having regard to the impugned order passed by the receiver, it is agreedby the learnedseniorcounselfor the respondentthat the receiverbe restrained from taking physical possessionof the immovableproperty in issue, located at C-270, Ground Floor, Vivek Vihar, Phase-I, New Delhi-110 095 (in short the Vivek Viharproperty),pendingthe conclusionofthe arbitrationproceedings.It is orderedaccordingly. Mr Sharma,learnedseniorcounselfor the petitioners,saysthatwithin two weeks from today,the petitionerswill depositwiththe learnedarbitrator ARB.A. 12/2013 " , the petitioners'shareofthe coststowardsthe arbitrator'sfee.) He also submitsthat the petitionersare desirousof sellingthe Vivek Vihar property provided the respondent provides due assistance in that behalf For this purpose, he proposes to move an applicationbefore the learned arbitrator, within ten days from today. MrJain, learnedseniorcounselfor therespondent,says thatifsuchan applicationis moved, due assistancewill be providedby the respondent. With the aforesaid directionsin place, the petition is disposedof Needles to say, the learned arbitrator will conclude the arbitration proceedingsas expeditiouslyas possible,though not later than two months from today. Dasti. rn . RAJIV SHAKDHER, J JULY 29, 2013 kk ARB.A. 12/2013 Page2of2

$-90 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.A. 12/2013 &IA No. 11506/2013 (Stay) MAMTA JAIN& ANR Appellants Through: Mr K.K. Sharma, Sr. Adv. with Mr Ashutosh Dubey & Ms Bandita, Advs. versus M/S FULLERTON INDIA CREDIT CO LTD Respondent Through: Mr Sanjay Jain, Sr. Adv. with Mr Sanjeev Sagar & Ms Namisha Gupta, Advs. CORAM: HON'BLE MR. JUSTICE RAJIV SHAKDHER