Pnb Housing Finance Limited v. Ramesh Agarwal & ORS.

$~25 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 52/2018 PNB HOUSING FINANCE LIMITED ..... Petitioner Through:

Mr.Nishant Maidasani, Adv.

versus RAMESH AGARWAL & ORS.

..... Respondents Through:

None.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 04.04.2018 In spite of service, none appears for the respondents. The counsel for the petitioner submits that the petitioner is also in the process of invoking arbitration and taking steps for appointment of an Arbitrator.

In view of the above, the interim order dated 31.01.2018 will remain in operation for the period as prescribed under Section 9(2) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act'). In case the Arbitral Tribunal is not constituted within the period as prescribed under Section 9(2) of the Act, the interim order shall stand vacated automatically. Respondent shall be at liberty to apply for modification / vacation / variation of the interim order by moving an appropriate application before the Arbitral Tribunal in this regard. The petition is disposed of in the above terms, with no order as to costs.

NAVIN CHAWLA, J APRIL 04, 2018/rv