Yogesh Bansal Vs M/S Apnacircle Infotech Ltd. & Others

7A

Signature Not Verified Signed By:RAM DATT Signing Date:13.09.2024 15:55 Certify that the digital and physical file have been compared and the digital data is as per the physical file an d no page is missing.

¶3

In the reply filed by the Respondents and in the submissions made to the Court earlier, it is assured that the Respondent No.l has sufficient resources in the country and that Respondent No. Iwill be prepared to satisfy the award if passed against it. It is stated that as of date there is balance of Rs. 60 lakhs in the account of the Respondent No.l.

¶4

It is seen that in his email dated O'** June, 2014, the Petitioner claimed a sum of Rs.46.20 lakhs. In the circumstances the Court directs that a sum of Rs. 50 lakhs be retained in the account of the Respondent No.l at all times during the pendency of the arbitral proceedings.

¶5

Both the pa:rties have agreed that this court may appoint a Sole Arbitrator to adjudicate the disputes between the parties including their claims and counter claims.

¶6

In the circumstances, the Court appoints Dr. Ram Kishan Yadav, retired District & Sessions Judge, Delhi, A-353, 2"^ Floor, Derawal Nagar, Delhi-110009, (Tel. No. 011-47503579, 9910384623) as sole Arbitrator

¶7

OMP1260/2014 &ARB.P.44/2015

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Page 2 of 3

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to adjudicate the disputes between the parties including their claims and counter-claims. The arbitration shall take place under the aegis of the Delhi International Arbitration Centre ('DAC'). The fees of the learned Arbitrator vvill be in terms of the Delhi International Arbitration Centre Arbitration Proceedings (Arbitrators' Fees) Rules.

¶10

The petitions are disposed of. A copy of this order be delivered to the learned Arbitrator as well as Additional Coordinator, DAC forthwith.

¶11

Order Dasti.

¶12

S. MURALIDHAR, J

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MAY 15,2015 / n

¶14

OMP1260/2014 &ARB.P.44/2015

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Page 3 of3

Yogesh Bansal v. M/S Apnacircle Infotech Ltd. & Others

Case brief

What is this about?

What did the court decide?

Yogesh Bansal v. M/S Apnacircle Infotech Ltd. & Others

Case brief

What is this about?

What did the court decide?

What the court decided

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