Hero Fincorp Limited v. Kunwer Sachdev

$~13 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 418/2018 HERO FINCORP LIMITED ..... Petitioner Through:

Mr.Sanjeev Singh, Mr.Prashant Tripathi & Ms.Anandita Singh, Advs.

versus KUNWER SACHDEV ..... Respondent Through:

Mr.Ajay Bhargava, Mr.Aseem Chaturvedi, Ms.Wamika Trehan & Mr.Shivank Diddi, Advs.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 19.12.2018 Learned counsel for the petitioner submits that the petitioner has appointed an Arbitrator in terms of the Arbitration Agreement between the parties. He submits that the interim order passed by this Court on 12.11.2018 be extended by a further period of eight weeks for the parties to move an appropriate application before the Arbitrator seeking extension / modification / vacation / variation of the same. The learned counsel for the respondent submits that the respondent would be challenging the mandate of the Arbitrator so appointed. As the Arbitral Tribunal is already constituted, the interim order dated 12.11.2018 is extended by a further period of eight weeks, leaving it open to the parties to move an appropriate application before the Arbitrator seeking extension / modification / variation / vacation of the same. This order shall

be without prejudice to the rights of the respondent to challenge the mandate of the Arbitrator in accordance with law.

The counsel for the respondent submits that in terms of the order dated 12.11.2018, the respondent has filed an affidavit disclosing his assets. The same is lying under objections. The respondent shall file the said affidavit before the Arbitrator and further proceedings in that regard would be taken by the Arbitrator in accordance with law. The petition is disposed of in the above terms, with no order as to cost.

NAVIN CHAWLA, J DECEMBER 19, 2018/rv