Disposed

Hero Fincorp Limited v. Gupta Power Infrastructure Limited and Ors.

Delhi HC22 Aug 2024O.M.P.(I) (COMM.)/25/2024

Case brief

AI extract

What is this about?

The Division Bench converted a Section 9 petition into a Section 17 application for expedited adjudication by the Sole Arbitrator. The Court modified an earlier attachment order to exclude wrongly attached accounts and directed respondents to file an affidavit of account balances.

What did the court decide?

Section 9 petition treated as Section 17 application; wrongly attached account removed; respondents directed to file affidavit of account balances within 10 days.

Hero Fincorp Limited Vs Gupta Power Infrastructure Limited and Ors. — Arbitration | Delhi HC (2024)

¶1

$~52

¶2

IN THE HIGH COURT OF DELHI AT NEW DELHI

¶3

O.M.P.(I) (COMM.) 25/2024 & I.A. 4062/2024

¶4

HERO FINCORP LIMITED .....Petitioner

¶5

Through: Mr. Arun Aggarwal, Adv. with Mr. Shivam Saini, Mr. Praful Rawat, Advs.

¶6

versus

¶7

GUPTA POWER INFRASTRUCTURE LIMITED AND ORS

¶8

.....Respondent Through: Mr. Animesh Kumar, Mr. Nishant Kumar, Mr. Tanay Agarwal, Mr. Rohit Bhattacharjee, Dr. Sumit Kumar, Mr. Aparajita, Mr. Ayush kumar, Advs.

¶9

CORAM: HON'BLE MR. JUSTICE JASMEET SINGH

¶10

O R D E R % 22.08.2024

¶11

When the present petition came up for hearing on 18.01.2024, this Court was pleased to attach the accounts of respondent Nos. 1-5.

¶12

Since an Arbitrator has been appointed, the learned counsel for the parties states that the present Section 9 petition be treated as a Section 17 application and may be decided expeditiously by the Sole Arbitrator.

¶13

It is requested that the Sole Arbitrator will endeavour to decide the same within a period of 4 weeks from entering the reference.

¶14

Mr. Kumar, learned counsel for the respondents states that the balance in the 15 accounts mentioned in the order dated 18.01.2024 shall be maintained as of today.

¶15

This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 31/08/2024 at 11:37:15

¶16

On 20.02.2024, it was stated that the Account No. 024010200026309 was wrongly attached in the interim order dated 18.01.2024.

¶17

On 12.03.2024, the order dated 18.01.2024 was modified to the above extent and the said Account No. was removed from the attachment.

¶18

It is directed that the respondents shall give an affidavit of the amounts lying to the credit of the 15 accounts within 10 days from today to the learned counsel for the petitioner and place a copy of the same on record. 8. The order passed today is only for the purpose of deciding this petition and the Arbitrator will be uninfluenced by any observation made herein.

¶19

The petition is disposed of accordingly.

¶20

JASMEET SINGH, J

¶21

AUGUST 22, 2024/NG

¶22

Hero Fincorp Limited v. Gupta Power Infrastructure Limited and Ors.

Case brief

What is this about?

What did the court decide?

Hero Fincorp Limited v. Gupta Power Infrastructure Limited and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Tk Elevator India Private Limited Vs Nkg Infrastructure Limited

Mr Ashok Kumar Proprietor of Ms Mc Construction Co. Vs Delhi Tourism and Transportation Development Corporation Ltd. through Its Managing Director

Mr Ajay Kumar Singhal Vs I and Fc Department Govt of NCT of Delhi through Its Chief Engineer Zone I

Cobra Instalaciones Y Servicios S a Vs Drake and Scull Water and Energy India Pvt. Ltd.

Vishal Prints Vs Rajsons Impex Pvt. Ltd. & Ors.

M/S Allied Finance Pvt. Ltd. Vs M/S Apollo Med Skills Ltd.