Pnb Housing Finance Limited v. Salauddin Badhruddin Khan & ANR.

$~17 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 536/2017 PNB HOUSING FINANCE LIMITED ..... Petitioner Through:

Mr.Nishant Maidasani, Adv.

versus SALAUDDIN BADHRUDDIN KHAN & ANR. ..... Respondents Through:

None.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 20.02.2018 In spite of service none appears for the respondents. The learned counsel for the petitioner submits that the petitioner is in the process of appointing an Arbitrator in terms of the Arbitration Agreement between the parties and such Arbitrator shall be appointed within a period of one week from today.

In view of the above, the Interim Order dated 20.12.2017 shall remain in operation during the pendency of the Arbitration proceedings unless vacated or modified by the Arbitrator so appointed by the petitioner. The respondents would be at liberty to move an appropriate application under Section 17 of the Act seeking modification / vacation of the Interim Order before the Arbitrator. In case the Arbitrator is not appointed within a period of three weeks from today, the Interim Order shall stand vacated automatically.

The petition is disposed of with the above directions. Dasti.

NAVIN CHAWLA, J FEBRUARY 20, 2018/rv