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High Court of DelhiOMP (ENF.) (COMM.)/161/2023

Iacuity Telco Solutions Private Limited Formerly Known As Xalted Information Systems Private Li v. Centre For Development Of Telematics

2024-03-27Hon'Ble Mr. Justice Jasmeet Singh2 pages

$~32 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 161/2023 & EX.APPL.(OS) 1021/2023 IACUITY TELCO SOLUTIONS PRIVATE LIMITED FORMERLY KNOWN AS XALTED INFORMATION SYSTEMS PRIVATE LIMITED ..... Decree Holder Through:

Mr Nikhil Y Chawla, Mr Vikas Mishra and Ms Suchitra Chawla, Advs.

versus CENTRE FOR DEVELOPMENT OF TELEMATICS ..... Judgement Debtor Through:

Mr Pragyan Pradip Sharma, Mr Chahat Raghav, Mr Hardik Jain and Ms Akshita Gupta, Advs.

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 27.03.2024 1.

This is a petition seeking execution of the award dated 23.01.2023 in the matter of arbitration between „Centre For Development of Telematics vs. Iacuity Telco Solutions Pvt. Ltd. (formerly known as Xalted Information Systems Pvt. Ltd.)‟.

2.

In the present case, the claims of the decree-holder were allowed to the extent of Rs. 12.25 crores along with interest. The amount has been deposited with the Registrar General, Delhi High Court. 3.

Since in the objections filed by the judgment-debtor, there is no stay in favour of the judgment-debtor, the decree-holder is entitled to release of 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 03/07/2025 at 03:41:44

the amounts.

4.

The decree-holder is permitted to withdraw the said amounts subject to furnishing security to the satisfaction of the Registrar General, Delhi High Court.

5.

In case the decree-holder is unable to furnish security to the satisfaction of the Registrar General, the amount may be put in a recurring fixed deposit after two weeks from today. In case the decree-holder is unable to furnish the security, the amounts converted into the fixed deposit shall be released to the party after the decision of the OMP(COMM.) 212/2023. 6.

The petition is disposed of accordingly.

JASMEET SINGH, J MARCH 27, 2024 sr Click here to check corrigendum, if any 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 03/07/2025 at 03:41:44