Jmc Projects (India) Ltd. & ANR. v. Mrt Signals Ltd.

$~15 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 27/2018 JMC PROJECTS (INDIA) LTD. & ANR.

..... Petitioners Through Ms.Gunika Gupta, Adv.

versus MRT SIGNALS LTD.

..... Respondent Through Mr.Saurav Gupta, Adv.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 17.04.2018 This petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act') has been filed by the petitioner seeking an order of restrain against the respondent from creating any third party right with respect to the movable and immovable property till the execution of the Arbitral Award dated 05.01.2018 passed in favour of the petitioner by the Arbitral Tribunal.

Learned counsel for the respondent submits that the respondent has challenged the Arbitral Award by way of a petition under Section 34 of the Act, however, the same is yet to be listed.

As the Arbitral Award has been passed in favour of the petitioner awarding a sum of Rs.4.05 crores along with interest @ 9% p.a. from 03.11.2015 and even during the pendency of the arbitration proceedings, the petitioner enjoyed an interim protection as ordered by way of Order dated 08.07.2015 passed in OMP(I) 142/2015, the Interim Order dated 19.01.2018

passed by this Court in the present petition shall continue till further orders that may be passed in the proposed petition being filed by the respondent challenging the Arbitral Award.

The petition is disposed of in the above terms with no order as to cost. Dasti.

NAVIN CHAWLA, J APRIL 17, 2018/Arya