Rudra Buildwell Pvt. Ltd. v. Realworth India Pvt. Ltd.

Delhi HC1 Apr 2025FAO(OS)/174/2024

Case brief

AI extract

What is this about?

Withdrawal of appeal FAO(OS) 174/2024; release of arbitral amount deposited in Court; CM APPL. 18885/2025; challenge to Single Judge order dated 23.07.2024 in O.M.P. 6/2022 upholding arbitral award dated 12.04.2022; Agreement to Sell dated 30.12.2009; property at 7-C, Doctor's Lane, Gole Market, New Delhi; refund of Rs.5 crore sale consideration with 6% interest and Rs.15 lakhs costs; specific performance refused; Rudra Buildwell Pvt. Ltd. v. Realworth India Pvt. Ltd.; Delhi High Court; Subramonium Prasad and Harish Vaidyanathan Shankar, JJ.; hearing dated 21.04.2025 cancelled.

What did the court decide?

Application allowed; appeal disposed of as withdrawn with pending application(s); Registry directed to release the entire deposited arbitral amount with up-to-date interest to the Appellant; hearing fixed for 21.04.2025 cancelled.

Rudra Buildwell Pvt. Ltd. Vs Realworth India Pvt. Ltd. — Delhi HC (2025) — LawSathi Research

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$~56

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- FAO(OS) 174/2024

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RUDRA BUILDWELL PVT. LTD. .....Appellant

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Through: Mr. Akshat Gupta and Ms. Sakshi Tikmany, Advocates

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versus

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REALWORTH INDIA PVT. LTD .....Respondent Through: Ms. Gauri Rasgotra, Mr. Saket Sikri, Mr. Manish Kharbanda, Ms. Ekta Gupta, Mr. Naman Joshi, Mr. Dinesh Moorjani, Mr. Girish Ahuja, Mr. Gunav Gujral and Mr. Gurpreet Bagga Advs

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CORAM:

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HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

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O R D E R % 01.04.2025 CM APPL. 18885/2025

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The present application is one for withdrawal of the appeal and also for release of the arbitral amount which has been deposited by the Respondent before this Court.

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The facts of the case reveal that the Appellant and the Respondent entered into an Agreement to Sell dated 30.12.2009 for the purchase of immovable property situated at 7-C, Doctor’s Lane, Gole Market, New Delhi-110001. Since the sale was not going through, the Appellant herein moved an application for appointment of an Arbitrator and an Arbitrator was appointed and an Award was passed on 12.04.2022. The Arbitrator did not

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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 04/04/2025 at 13:57:51

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grant the decree for specific performance. However, the Respondent was directed to refund the entire sale consideration of Rs.5 crore to the Appellant along with interest @ 6% per annum along with costs of Rs.15 lakhs. The said award was challenged by the Appellant herein before this Court.

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The learned Single Judge vide Order dated 23.07.2024 in O.M.P. 6/2022 directed the Respondent herein to deposit the awarded amount before this Court. The learned Single Judge has also upheld the award which is under challenge in the present appeal.

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Learned Counsel for the Appellant states that the Appellant is in dire need of money, and therefore, he is not interested in pursuing the case and wishes to withdraw the appeal and also the amount which has been awarded to the Appellant herein under the Award dated 12.04.2022.

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