Ram Lubhaya Narang & Ors. vs Royaloak Infrastructure Llp
2022 Latest Caselaw 1064 Del

                                      $~26 & 1
                                      *    IN THE HIGH COURT OF DELHI AT NEW DELHI

                                      %                                         Judgment delivered on: 13.04.2022

                                      +       O.M.P.(I) (COMM.) 86/2022 & I.A. 4205/2022
                                      RAM LUBHAYA NARANG & ORS.                                  ..... Petitioners
                                                                      versus
                                      ROYALOAK INFRASTRUCTURE LLP                                ..... Respondent
                                      +       ARB.P. 333/2022 & I.A. 4206/2022
                                      RAM LUBHAYA NARANG & ORS.                                  ..... Petitioners
                                                                      versus
                                      ROYALOAK INFRASTRUCTURE LLP                                ..... Respondent
                                      Advocates who appeared in this case:
                                      For the Petitioner: Mr. Sandeep Thukral, Advocate.
                                      For the Respondent: Mr. Nagendra Rao Manne, Authorised Representative.

                                      CORAM:-
                                      HON'BLE MR. JUSTICE SANJEEV SACHDEVA
                                                        JUDGMENT

SANJEEV SACHDEVA, J. (ORAL)

1. OMP (I) (COMM) 86/2022 has been filed by the petitioners who are the landlords of K-1/44, WHS, Kirti Nagar, New Delhi against the respondent who are their tenants seeking certain interim protection.

2. Arbitration Petition 333/2022 is a petition seeking appointment of an arbitral tribunal in terms of the lease deed dated 16.04.2021.

Signature Not Verified
Digitally Signed By:KUNAL                                                                                 Digitally Signed
MAGGU                                                                                                     By:JUSTICE SANJEEV
Signing Date:14.04.2022 09:08:21                                                                          SACHDEVA
This file is digitally signed by PS                                                                       Signing Date:13.04.2022
to HMJ Sanjeev Sachdeva.                                                                                  18:13

3. Respondent is represented through Mr. Manne Nagender Rao who is the head of the business development and acquisition who has been duly authorised by resolution of the Board of Directors dated 12.04.2022 to appear in the proceedings and also settle on behalf of the respondents.

4. Parties have entered into a settlement agreement dated 12.04.2022. Mr. Mohit Narang as well as Mr. Manne Nagender Rao are present in person. They confirm their signatures on the said agreement and undertake that they shall remain bound by the terms and conditions thereof. A copy of the settlement agreement as well as the resolution of the Board of Directors has been filed in Court. Same is taken on record.

5. Learned counsel for petitioner submits that in view of the settlement petitioner does not press Arbitration Petition 333/2022 and accordingly seeks leave to withdraw the same.

6. Arbitration Petition 333/2022 is dismissed as withdrawn.

7. OMP (I) (COMM) 86/2022 is disposed of in terms of the settlement agreement. Parties shall remain bound by the terms and conditions.

                                                                                 SANJEEV SACHDEVA, J
                                      APRIL 13, 2022/rk



Signature Not Verified
Digitally Signed By:KUNAL                                                                         Digitally Signed
MAGGU                                                                                             By:JUSTICE SANJEEV
Signing Date:14.04.2022 09:08:21                                                                  SACHDEVA
This file is digitally signed by PS                                                               Signing Date:13.04.2022
to HMJ Sanjeev Sachdeva.                                                                          18:13