M/S IDBI TRUSTEESHIP SERVICES LIMITED vs OZONE PROPERTIES PRIVATE LIMITED & ORS.

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Reserved on : 21.02.2025 Pronounced on : 07.04.2025 ARB.P. 433/2024 M/S IDBI TRUSTEESHIP SERVICES LIMITED .....Petitioner Through: Mr. Jayant Mehta, Sr. Advocate with Mr.Angad Verma, Mr. Prashant Kumar, Ms.Nikita, Mr.Kevin and Ms.Tina, Advocates versus OZONE PROPERTIES PRIVATE LIMITED & ORS.....Respondents Through: Mr. Debopriyo Moulik, Advocate for Respondent nos. 1 and 2. Mr. Trideep Pais, Sr. Advocate with Mr. Vidur Bhatia, Mr. Anshul and Ms. Saloni Ambastha, Advocates for Respondent no.3 CORAM: HON'BLE MR. JUSTICE MANOJ KUMAR OHRI JUDGMENT 1. The instant petition has been preferred under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter, referred to as the „A&C Act‟), seeking constitution of Arbitral Tribunal (hereafter, referred to as „AT‟) comprising of a Sole Arbitrator to adjudicate the disputes between the parties. 2. The dispute arises out of a Master Agreement dated 26.04.2023 which was executed between the Petitioner and Respondents No.1 and 2. Clause 3.2 of the agreement contains an arbitration clause as per which the place of 3. Master Agreement came to be executed to record terms and conditions of rep