Vipul Limited & Others & ORS. v. Solitaire Ventures Pte. Ltd. & Others & ORS.

$~65 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB. A. (COMM.) 37/2016 VIPUL LIMITED & OTHERS ..... Appellants Through:

Mr. Parag Tripathi, Senior Advocate with Mr. Gaurav Duggal & Ms. Nidhi Parashar, Advocates.

versus SOLITAIRE VENTURES PTE. LTD. & OTHERS ...... Respondents Through:

Mr. P.K. Sachdeva, Advocate for R-4.

Mr. Gaurav Pachnanda, Senior Advocate with Ms. Renu Gupta, Ms. Akriti Gandotra & Ms. Shivangi Vaid, Advocates for R-5.

CORAM: JUSTICE S.MURALIDHAR

O R D E R

% 04.10.2016 IA No. 12382/2016 (for exemption)

1. Allowed, subject to all just exceptions.

Arb.A. (COMM) 37/2016 & IA No. 12381/2016

2. Mr. Parag Tripathi, learned Senior Advocate appearing for the Appellants states that one alternate option would be to bring to sale one of the properties, which is covered by License No.7.

3. It will be open to the Appellants to file a fresh application before the Arbitral Tribunal (AT) under Section 17 of the Arbitration and Conciliation of the Act 1996 on or before 12th October 2016 for placing on Arb.A. (COMM) 37/2016

record the complete details which will enable the AT to consider the feasibility of the said option.

4. Subject to the Appellant filing the application before 12th October, 2016, the AT will take it up for consideration at its earliest convenience.

5. No further orders are called for. The appeal and the pending application are disposed of.

6. Dasti under the signature of the Court Master. OCTOBER 4, 2016 S. MURALIDHAR, J.

b'nesh Arb.A. (COMM) 37/2016