Disposed

Dr Neeraj Bindal v. Ambience Projects and Infrastructure Private Ltd.

Delhi HC27 Feb 2024OMP (ENF.) (COMM.)/114/2023

Case brief

AI extract

What is this about?

Execution petition to enforce an arbitration award of Rs. 80,45,044 with interest and foreclosure directions. Award items 1 and 2 were cleared; parties settled costs at Rs. 6 lakhs payable within two weeks. Petition closed, attachment vacated, revival permitted on non-payment.

What did the court decide?

Petition closed on payment of Rs. 6 lakhs towards costs within two weeks; attachment vacated; liberty to revive for full amount on default.

Dr Neeraj Bindal Vs Ambience Projects and… — Execution and Attachment | Delhi HC (2024)

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$~36

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- OMP (ENF.) (COMM.) 114/2023

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DR NEERAJ BINDAL ..... Decree Holder Through: Mr Rohit Gandhi, Mr Adhish Srivastava, Mr Sanjay Gaur, Mr Hargun Singh, Ms Akshita Nigam and Ms Chintu Jain, Advs.

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versus

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AMBIENCE PROJECTS AND INFRASTRUCTURE PRIVATE LTD ..... Judgement Debtor Through: Mr. VA Rajan, Ms. Tanisha Dhoot, Advs.

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CORAM:

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HON'BLE MR. JUSTICE JASMEET SINGH O R D E R % 27.02.2024

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This is a petition seeking enforcement of the Award dated 27.09.2022 passed by the Sole Arbitrator.

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As per the Arbitrator, the claims awarded in favour of the decree holder were as under:-

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“(i) An Award is passed in favour of the Claimant for a sum of Rs.80,45,044/- with interest @ 12% per annum from the date of filing of the Statement of Claim till realization of the above amount.

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(ii) Respondent is directed to foreclose the loan amount/account with the HDFC Bank within 6 weeks of passing of this Award.

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(iii) Claimant is awarded cost of litigation.”

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This is a digitally signed order.

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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 02/03/2024 at 11:53:41

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As far as award Nos. 1 and 2 are concerned, the same have been cleared. The only question remaining is with regard to costs of litigation.

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The decree-holder has claimed an amount of about Rs. 14.18 lakhs towards costs of litigation.

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After some arguments, the parties have mutually settled the amount and Mr Rajan, learned counsel for the judgment-debtor on instructions states that the judgment-debtor shall pay to the decree-holder a sum of Rs. 6 lakhs in full and final settlement of claim No. 3 i.e. costs of litigation. The same is acceptable to Mr Gandhi, learned counsel for the decree-holder on instructions. The said amount shall be paid within a period of two weeks from today.

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Since the execution petition is satisfied on payment of the said amount of Rs. 6 lakhs, the present petition is closed and the order of attachment also stands vacated. In case the payment is not made within a period of two weeks from today, the decree-holder is at liberty to revive the petition for the entire amount.

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JASMEET SINGH, J

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FEBRUARY 27, 2024 MS/sr

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Click here to check corrigendum, if any

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This is a digitally signed order.

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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 02/03/2024 at 11:53:41

Dr Neeraj Bindal v. Ambience Projects and Infrastructure Private Ltd.

Case brief

What is this about?

What did the court decide?

Dr Neeraj Bindal v. Ambience Projects and Infrastructure Private Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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