Pramod Kumar Saxena v. Koa Tools Public Limited Adn ORS & ORS.

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ ARB.P. 533/2017 PRAMOD KUMAR SAXENA ..... Petitioner Through Mr.Suhail Malik & Mr.Vikas Malik, Advocates versus KOA TOOLS PUBLIC LIMITED & ORS

...Respondents

Through Mr.Abhishek Verma & Mr.Yogesh Verma, Advocates

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 19.09.2017 1.

The petitioner has filed an affidavit showing service effected on respondent Nos.1 to 3. The learned counsel for respondent Nos.2 and 3 have entered appearance. He, however, submits that registered office of respondent No.1 has changed.

2.

A perusal of the MOU entered into between the parties dated 30.08.2016 shows that registered office of respondent No.1 is at A-22, Sector 14, Noida (U.P.) -201301, i.e. the same address at which the service had been effect by the petitioner. Accordingly, respondent No.1 is deemed to be served.

3.

It is the case of the petitioner that he entered into a MOU on 30.08.2016 with the respondent and made payment of Rs.4 lacs. The MOU pertains to purchase of shares of respondent No.1. 4.

Disputes having arisen between the parties, the arbitration clause was invoked on 24.03.2017.

5.

The learned counsel for respondent Nos.2 and 3 after some arguments submits that he has no objection in case the court appoint an arbitrator without prejudice to the rights and contentions of respondent Nos.2 and 3. 6.

Accordingly, Mr.K.M. Singh, Advocate (Mobile No. 9818333616) is appointed as the sole arbitrator to adjudicate the dispute between the parties. The arbitration shall take place under the aegis of Delhi International Arbitration Centre, New Delhi (in short 'The DIAC'). A copy of this order be sent to the DIAC and to the learned arbitrator. 7.

The petition stands disposed of as above.

JAYANT NATH, J.

SEPTEMBER 19, 2017/v