Rudra Buildwell Pvt. Ltd. v. Realworth India Pvt. Ltd
$~56 * IN THE HIGH COURT OF DELHI AT NEW DELHI + FAO(OS) 174/2024 RUDRA BUILDWELL PVT. LTD.
.....Appellant Through:
Mr. Akshat Gupta and Ms. Sakshi Tikmany, Advocates versus REALWORTH INDIA PVT. LTD .....Respondent Through:
Ms. Gauri Rasgotra, Mr. Saket Sikri, Mr. Manish Kharbanda, Ms. Ekta Gupta, Mr. Naman Joshi, Mr. Dinesh Moorjani, Mr. Girish Ahuja, Mr.
Gunav Gujral and Mr. Gurpreet Bagga Advs
CORAM:
HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR
O R D E R
% 01.04.2025 CM APPL. 18885/2025 1.
The present application is one for withdrawal of the appeal and also for release of the arbitral amount which has been deposited by the Respondent before this Court.
2.
The facts of the case reveal that the Appellant and the Respondent entered into an Agreement to Sell dated 30.12.2009 for the purchase of immovable property situated at 7-C, Doctor's Lane, Gole Market, New Delhi-110001. Since the sale was not going through, the Appellant herein moved an application for appointment of an Arbitrator and an Arbitrator was appointed and an Award was passed on 12.04.2022. The Arbitrator did not 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 04/04/2025 at 13:57:51
grant the decree for specific performance. However, the Respondent was directed to refund the entire sale consideration of Rs.5 crore to the Appellant along with interest @ 6% per annum along with costs of Rs.15 lakhs. The said award was challenged by the Appellant herein before this Court. 3.
The learned Single Judge vide Order dated 23.07.2024 in O.M.P. 6/2022 directed the Respondent herein to deposit the awarded amount before this Court. The learned Single Judge has also upheld the award which is under challenge in the present appeal.
4.
Learned Counsel for the Appellant states that the Appellant is in dire need of money, and therefore, he is not interested in pursuing the case and wishes to withdraw the appeal and also the amount which has been awarded to the Appellant herein under the Award dated 12.04.2022. 5.
The application stands allowed. The appeal is disposed of as withdrawn along with pending application(s), if any. 6.
The Registry is directed to release the entire amount with up-to-date interest to the Appellant.
7.
The next date of hearing already fixed, i.e., 21.04.2025, stands cancelled.
8.
The application is disposed of.
SUBRAMONIUM PRASAD, J HARISH VAIDYANATHAN SHANKAR, J APRIL 1, 2025 hsk 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 04/04/2025 at 13:57:51