The Motor& General Finance Ltd v. Bravo Hotles Pvt Ltd

$~36 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 64/2016 THE MOTOR & GENERAL FINANCE LTD ..... Petitioner Through: Mr Sunil Magon, Advocate.

versus BRAVO HOTLES PVT LTD ..... Respondent Through: Mr Gurpreet Singh and Mr Jatin S.

Sethi, Advocates.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R

% 15.09.2016 The petitioner has filed the present petition under Section 9 of the Arbitration and Conciliation Act, 1996 (hereafter 'the Act'). The learned counsel for the petitioner states that the petition under Section 11 of the Act for appointment of an Arbitrator is pending and the parties are endeavouring to settle their disputes. Insofar as the present petition is concerned, the learned counsel for the respondent agrees that the respondent shall not transfer, encumber, alienate or create any third party interest in any manner in respect of properties mentioned in Paragraph 17 of the petition.

In view of the above statement, the learned counsel for the petitioner does not wish to press the petition for any further relief. Accordingly, the present petition is disposed of by directing that the respondent shall not transfer, encumber, alienate or create any third party interest in any manner in respect of properties as mentioned in Paragraph 17 of the petition till the settlement of the disputes or till the final adjudication of the disputes by the Arbitrator whichever is earlier.

It is, however, clarified that if the Arbitral Tribunal is not constituted within a period of three months from today, the present order shall lapse automatically.

The petition is disposed of.

VIBHU BAKHRU, J SEPTEMBER 15, 2016 RK