Dismissed

Moneywise Financial Services Pvt. Ltd. v. Bhoruka Classic Finance Priv Ate Limited. & Anr.

Delhi HC25 Sept 2024CONT.CAS(C)/609/2024

Case brief

AI extract

What is this about?

In this contempt petition challenging a non-compliance with an arbitral award directing Fixed Deposit receipts, the Delhi High Court held that since the underlying order is under appeal/sub judice, proceeding with contempt is futile. The petition is dismissed without prejudice.

What did the court decide?

The Contempt Petition dismissed without prejudice as the underlying matter is sub judice.

Moneywise Financial Services Pvt. Ltd. Vs Bhoruka Classic Finance… — Arbitration | Delhi HC (2024)

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$~8

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- CONT.CAS(C) 609/2024 & CM APPL. 43521/2024

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MONEYWISE FINANCIAL SERVICES PVT. LTD. .....Petitioner Through: Mr. Shreyas Jain, Adv.

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versus

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BHORUKA CLASSIC FINANCE PRIVATE LIMITED. & ANR. .....Respondents Through: Mr. Karunesh Tandon, Mr. Rahul Chauhan, Mr. Abhishek Singh and Mr. Anurag Yadav, Advs.

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CORAM: HON'BLE MR. JUSTICE DHARMESH SHARMA

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O R D E R % 25.09.2024

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Having heard the learned counsels for the parties and on perusal of the record, this petition comes up for final disposal.

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Shorn of unnecessary details, the parties are before the Arbitral Tribunal, which vide order dated 31.01.2024 passed an order under Section 17(ii) (b) of the Arbitration and Conciliation Act, 1996 [“ A&C Act ”], thereby directing the respondent/contemnor to deposit a sum of Rs. 77,31,132/- in form of Fixed Deposit Receipts in the name of respondent No.1, with any nationalized bank situated at the place of its registered office i.e. Mumbai, Maharashtra within one month of such order.

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Since the said order was not complied with, the present Contempt Petition was instituted, and on taking cognizance, notice was issued on 10.04.2024.

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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 02/07/2025 at 05:04:26

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Learned counsel for the respondents has pointed out that the aforesaid order was assailed by filing objections under Section 37 of the A&C Act on 09.03.2024, and the same is sub judice before the learned District Judge (Commercial Court), New Delhi. The said fact was acknowledged by the learned counsel for the petitioner, except that he submitted that there is no interim order staying operation of the aforesaid order.

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Be that as it may, since the matter is in appeal, it would be a futile exercise as of now to proceed under the Contempt of Courts Act, 1971. Therefore, the present Contempt Petition is dismissed without prejudice.

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The pending application also stands disposed of.

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DHARMESH SHARMA, J.

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SEPTEMBER 25, 2024/ sm

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Moneywise Financial Services Pvt. Ltd. v. Bhoruka Classic Finance Priv Ate Limited. & Anr.

Case brief

What is this about?

What did the court decide?

Moneywise Financial Services Pvt. Ltd. v. Bhoruka Classic Finance Priv Ate Limited. & Anr.

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

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