Pnb Housing Finance Limited v. Deepsons India Pvt Ltd & ORS.

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P.(I) (COMM.) 97/2017 PNB HOUSING FINANCE LIMITED ..... Petitioner Through Mr.Ajay Uppal & Mr.Avinash Singh, Advocates versus DEEPSONS INDIA PVT LTD & ORS.

..... Respondents Through Mr.Rajat Arora, Advocate

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 12.09.2017 The learned counsel for the petitioner has pointed out that the petitioner has appointed Sh.Nitin Chaddha as a sole arbitrator to adjudicate the disputes between the parties.

This court on 01.03.2017 had passed an injunction order restraining the respondents from disposing off, selling, alienating, transferring or creating any encumbrance, charge or third party interest in any manner whatsoever in respect of the property bearing Flat No.132, Model Town East, Ghaziabad-201001. It is the contention of the learned counsel for the petitioner that this property is mortgaged to the petitioner bank. The learned counsel appearing for the respondents submits that the parties are trying to settle the matter.

In view of the above, the present petition is disposed of making it clear that the order dated 01.03.2017 passed by this court shall continue to operate until it is modified or vacated by the learned arbitrator. In the

eventuality of settlement arrived at between the parties, the parties are free to approach the learned arbitrator for appropriate orders. JAYANT NATH, J.

SEPTEMBER 12, 2017/v