S.E Investments Ltd v. Jay Polychem India Ltd & Ors

ORDER 0/"

24.07.2013 L The learned counsels for both the parties agree that the captionedpetitionsand the interlocutoryapplicationscan be disposed of with the followingdirections:-

(i). the courtmay appointan Arbitratorto adjudicateuponthe ARB.P.240/2013 &ors Page2of4 disputeinplace of Mr. RakeshU. Upadhyay,Advocate;

(ii). the interlocutoryapplicationbeing: lA No.9664/2013,referred to above, be placed before the learned Arbitratorappointed by this court, who will, after giving due opportunityto both sides, adjudicate upon the same;

(iii). OMP Nos.562/2013,389/2013 and 216/2013 be also placed before the learned Arbitrator, who will treat the same as petitions under Section 17 of the Arbitration and Conciliation Act, 1996 (in ^ shorttheAct) andsimilarlyaftergivingdue opportunityto bothsides, pass appropriateordersin accordancewiththe law;

(iv). Pending the disposal of the interlocutoryapplicationand the petitions,referredto in clause(ii) and (iii) above, interimordersdated

05.03.2013 passed in OMP 216/2013 and interim order dated

23.04.2013 in OMP 389/2013,will continueto operatetill the fmal disposalofthe OMPs and the applications.

(v). the sum of Rs.6 Crores depositedby the petitioner-M/s. Jay PolychemIndiaLimited,shallremaindepositedwhic^h-shaJUbideby the orders of the learned Arbitrator.

¶2It is ordered accordingly,in terms of agreed directionswhich are referred to hereinabove.

¶3The Registiyshall,in the meanwhile,renewthe fixeddepositin the eventits tenurehas cometo an end, till ftirtherordersare issuedin that behalf.

¶4Needlessto say, the learnedArbitratorshall also, in additionto the above entertainclaims and counter claims, ifany, that may be ARB.P.240/2013 &ors Page3of4 i prefeiTed by the parties before him and accordingly adjudicate upon the same, as well.

¶5Accordingly, in view of the above Hon'ble Mr. Justice S. B. Sinha, a retired Judge of the Supreme Court (Mobile No.9868219666) is appointed as an Arbitrator. The parties and their counsels shall appear before the learned Arbitrator on 29.07.2013 at 3.00 p.m.

¶6With the aforesaid obseiTations in place, the captioned petitions are disposed of RAJIV SHAKDHER, J Dasti. JULY 24, 2013 yg ARB .p. 240/2013 & ors

$^10, 44, 45 &48 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ARB.P. 240/2013 and lA No.9664/2013 (stay) JAY POLYCHEM (INDIA) LTD & ORS Petitioners Through: Dr. A.M. Singhvi and Mr. Arun Bhardwaj, Sr. Advocates with Mr. Vineet Malhotj-a, Dr. Shailender Sharma and Mr. Vishal, Advocates versus SE INVESTMENTS LTD & ANOTHER Respondents Tlu-ough: Mr. Anil Sapra, Sr. Advocate with Mr. P. Nagesh and Mr. Anand M. Mishra, Advocates forR-1 + O.M.P. 562/2013 JAY POLYCHEM INDIA LTD. & ORS Petitioners Through: Dr. A.M. Singhvi and Mr. Arun Bhardwaj, Sr. Advocates with Mr. Vineet Malhotra, Dr. Shailender Sharma and Mr. Vishal, • . Advocates versus S E INVESTMENTS LTD. Respondent Through:Mr. Anil Sapra, Sr. Advocatewith Mr. P. Nageshand Mr. AnandM. Mishra,Advocates forR-1 + O.M.P. 216/2013 S.E INVESTMENTS LTD Petitioner ARB.P. 240/2013 & ors Through:Mr. Anil Sapra, Sr. AdvocatewithMr. P. Nageshand Mr. AnandM. Mishra,Advocates for R-1 /O. versus JAY POLYCHEMINDIALTD & ORS ..... Respondents Through: Dr. A.M. Singhvi and Mr. Arun Bhardwaj, Sr. Advocates with Mr. Vineet Malhotra,Dr. ShailenderSharma and Mr. Vishal, Advocates + O.M.P. 389/2013 JAY POLYCHEM(INDIA)LTD. & ORS Petitioners Through: Dr. .A.M. Singhvi and Mr. Arun Bhardwaj, Sr. Advocates with Mr. Vineet Malhotra,Dr. ShailenderSharmaand Mr. Vishal, Advocates versus SEINVESTMENTSLTD. &ANR. Respondents Through:Mr. Anil Sapra,Sr. AdvocatewithMr. P. Nageshand Mr. AnandM. Mishra,Advocates for R-1 HON^EMR. JUSTICERAJIVSHAIO)HER