Final Order 3

Order Details: COPY OF JUDICIAL PROCEEDINGS
Pdf Text: 8 Execution (Comm.) 134/23
KOGTA FINANCIAL INDIA LTD. Vs. DEEPAK LUTHRA
11.12.2023
Present: Sh. Tek Chand Sharma, AR for decree holder.
AR for decree holder has submitted that he is not
pressing the execution of the award since the award was passed by the
sole arbitrator unilaterally appointed by the decree holder which is in
contradiction to the judgment of the Hon’ble Supreme Court of India
in a case law titled as ‘Perkins Eastman Architects DPC & Anr. Vs.
HSCC (India) Ltd.: (2020) 20 SCC 760’ and a case law titled as
‘Kotak Mahindra Bank Ltd. (appellant) Vs. Narendra Kumar Prajapat
(respondent) decided by Division Bench of Hon’ble High Court of
Delhi in EFA (COMM) 3/2023, CM APPL. 25636/2023, CM APPL.
25637/2023, CM APPL. 25638/2023, CM APPL., 25639/2023 & CM
APPL. 25635/2023 decided on 17.05.2023’ therefore, he may be
permitted to withdraw the present execution petition with liberty to
file the same afresh in case there is some change in legal position in
favour of the decree holder.
Heard. Statement of AR for decree holder is recorded
separately in this regard and in view of the same, the execution
petition is dismissed as withdrawn with liberty to file same afresh as
per law and disposed off accordingly.
File be consigned to record room after due compliance
as per rules.
(CHANDRA SHEKHAR)
District Judge (Commercial Court)-02
East District, KKD Courts, Delhi
11.12.2023
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