Nice Projects Ltd. Through The Liquidator Mr Vivek Parti v. Hindustan Urvarak And Rayasan Ltdd & ANR.
$~58 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 151/2025 NICE PROJECTS LTD. THROUGH THE LIQUIDATOR MR VIVEK PARTI .....Petitioner Through:
Mr. Angad Mehta, Mr. Karan Gandhi, Mr. Arsh, Mr. Sikhar Tiwari and Ms. Vidhika Kapoor, Advocates.
versus HINDUSTAN URVARAK AND RAYASAN LTD & ANR.
.....Respondents Through:
Mr. Adarsh Tripathi, Advocate for R-1.
CORAM:
HON'BLE MS. JUSTICE JYOTI SINGH
O R D E R
% 02.05.2025 CAV 164/2025 1.
Since Mr. Adarsh Tripathi, learned counsel enters appearance on behalf of Respondent No. 1, caveat stands discharged. I.A. 10986/2025 2.
Allowed, subject to all just exceptions.
3.
Application stands disposed of.
O.M.P.(I) (COMM.) 151/2025 & I.A. 10987/2025 4.
This petition is preferred on behalf of the Petitioner under Section 9 of the Arbitration and Conciliation Act, 1996 ('1996 Act') seeking a stay on the impugned letter dated 21.04.2025 albeit inadvertently typed as 21.04.2024 in the prayer clause.
5.
At the outset, learned counsel for Respondent No. 1 submits that this O.M.P.(I) (COMM.) 151/2025 Page 1 of 2 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 01/07/2025 at 16:24:10
petition is rendered infructuous as the communication has been given effect to and the Bank Guarantee bearing No. 0960119BG0000128 for an amount of Rs. 8,70,58,559/- has been encashed on 01.05.2025. This position is confirmed by learned counsel for the Petitioner, from the Petitioner on a passover.
6.
Accordingly, this petition is disposed of as infructuous, leaving all rights and contentions of the parties open in the pending litigation before the NCLT and/or any arbitral proceedings to which the parties may take recourse in future.
7.
Pending application stands disposed of.
JYOTI SINGH, J MAY 02, 2025/shivam O.M.P.(I) (COMM.) 151/2025 Page 2 of 2 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 01/07/2025 at 16:24:10