Pnb Housing Finance Limited v. Kunal Ramchandani & ORS

$~29 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P.(I) (COMM.) 475/2016 PNB HOUSING FINANCE LIMITED ..... Petitioner Through:

Ms Bhumika Kapoor, Advocate.

versus KUNAL RAMCHANDANI & ORS ..... Respondents Through:

Mr Samabh Soni, Advocate.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R

% 27.02.2017 The learned counsel for the parties state that the petitioner has already invoked the arbitration clause and an arbitral tribunal is likely to be constituted shortly.

The learned counsel appearing for the respondent has no objection if the order passed on 14.12.2016 is confirmed subject to the respondents' right to approach the arbitral tribunal for modification/vacation of the said order. Accordingly, the present petition is disposed of with the direction that the order dated 14.12.2016 shall continue to operate till further orders are passed by the arbitral tribunal in this regard. It is clarified that the parties are at liberty to apply to the arbitral tribunal for modification/vacation of the order dated 14.12.2016 and such application shall be considered by the arbitral tribunal uninfluenced any observation made by this Court in these proceedings. The petition is disposed of.

VIBHU BAKHRU, J FEBRUARY 27, 2017 RK