Kamlesh Gulati v. Deepak Gulati & ORS.

$~27 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 503/2017 KAMLESH GULATI ..... Petitioner Through Mr. Sanjeev Narula and Mr. Bhavya Goyal, Advs.

versus DEEPAK GULATI & ORS.

..... Respondents Through Mr. R.K. Mishra, Adv for R-1 & R-2.

Mr. Vineet, Adv for R-3 & R-4.

CORAM:

HON'BLE MR. JUSTICE RAJIV SHAKDHER

O R D E R

% 16.07.2018 1.

Learned counsel for the parties have been heard in the matter. 2.

Counsel are agreed that this petition can be disposed of with the following directions, given the fact that the arbitration has already been triggered by the petitioner.

(i) Ms. Kanwal Inder, (retd.) District & Sessions Judge shall stand appointed as an Arbitrator in the matter.

(ii) The arbitration proceedings will be conducted under the aegis of Delhi International Arbitration Centre (DIAC). Accordingly, Rules and Fee Schedule, as applicable to DIAC proceedings, will be applicable to the instant arbitration proceedings as well. (iii) During the pendency of the arbitration proceedings, respondent No.1 and 2 will not transfer, sell or create third party interest, in regard to the immovable properties described as: A-21/16, Naraina Industrial Area, Phase-II, New Delhi and B-84, Naraina Industrial

Area, Phase-II, New Delhi.

(iv) The captioned petition will be placed before the Arbitrator, who will treat the same as a petition under Section 17 of the Arbitration and Conciliation Act, 1996. The learned Arbitrator will hear the parties and their counsel, with regard to the reliefs claimed in the petition. The learned Arbitrator will also have the power to either vacate, confirm or vary the directions, issued hereinabove, with regard to the restraint placed on respondents No. 1 & 2 qua the immovable properties referred to in Paragraph 2 (iii). 3.

No costs.

RAJIV SHAKDHER, J JULY 16, 2018