Hiranand Kishinchand Gangwani v. Oyo Apartment Investment Llp

$~36 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P.(MISC.)(COMM.) 325/2024 HIRANAND KISHINCHAND GANGWANI ..... Petitioner Through:

Mr. Rishi Bhatnagar, Advocate.

versus OYO APARTMENT INVESTMENT LLP ..... Respondent Through:

Mr. Harsh Kaushik, Mr. Harsh Prakash, Advocates.

CORAM:

HON'BLE MR. JUSTICE PRATEEK JALAN

O R D E R

% 29.04.2024 I.A. 9328/2024 (for exemption) Exemption allowed, subject to all just exceptions. The application stands disposed of.

O.M.P.(MISC.)(COMM.) 325/2024 1.

This petition has been filed under Section 29A of the Arbitration and Conciliation Act, 1996 ["the Act"], seeking extension of the mandate of the learned Arbitral Tribunal, which is in seisin of disputes between the parties under a Profit Sharing cum Lease Agreement dated 16.08.2019.

2.

The Arbitral Tribunal was constituted by an order of this Court dated 11.10.2021 in ARB.P. 711/2020. Its mandate was extended for a period of six months, by the parties mutually, as recorded in the order dated 18.08.2023, which expires on 17.02.2024. 3.

Mr. Harsh Kaushik, learned counsel, appears for the respondent on O.M.P.(MISC.)(COMM.) 325/2024 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/05/2024 at 11:12:56

advance notice, and states that the respondent has no objection to the relief sought.

4.

Learned counsel for the parties state that the arbitral proceedings are at the stage of recording the respondent's evidence. 5.

Having regard to the facts and circumstances observed above, and with the consent of learned counsel for the parties, the petition is allowed, and the mandate of the Arbitral Tribunal is extended for a period of six months from 17.02.2024.

5.

The petition is disposed of in these terms.

PRATEEK JALAN, J APRIL 29, 2024 "Bhupi"/ O.M.P.(MISC.)(COMM.) 325/2024 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 06/05/2024 at 11:12:56