PYRAMID FINMART PVT. LTD vs RK SINHA AND ASSOCIATES AND ORS

Judgment text excerpt

$~59 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 20th February 2025 + CM(M) 252/2025 & CM APPL. 7571/2025 STAY PYRAMID FINMART PVT. LTD .....Petitioner Through: Mr. Ravi Kapoor and Mr. Sameer Dawar, Advocates versus RK SINHA AND ASSOCIATES AND ORS .....Respondents Through: Mr. Sunil Kumar, Sr. Adv. with Mr. Saurabh S. Sinha, Mr. Mrigank Prabhakar and Mr Siddharth Sahu, Advocates. CORAM: HON'BLE MR. JUSTICE RAVINDER DUDEJA J U D G M E N T ( ORAL) RAVINDER DUDEJA, J. 1. This is a petition under Article 227 of the Constitution of India, challenging the order dated 29.01.2025, passed by the Sole Arbitrator in arbitration proceedings titled “M/s. R.K. Sinha & Associates & Anr. Vs. M/s. Pyramid Finmart Pvt. Ltd. & Anr.” 2. The brief factual background of the matter is that petitioner company being engaged in the business of land sale, purchase and Signature Not Verified Digitally Signed CM(M) 252/2025 Page 1 of 9 By:SUNITA KUMARI Signing Date:25.02.2025 10:29:25 construction was approached by the respondents to purchase the land situated at Yamuna Express Highway. Petitioner No. 1and respondent No. 1 entered into an agreement to sell dated 20.11.2018. 3. During the performance of the contract, certain disputes arose between the parties. Petitioner filed petition under Section 11 (6) of the Arbitration & Conciliation Act for appointment of an Arbitrator before the High Court. 4. Vide order dated 20.01.2022, Sole Arbitrator was appointed to adjudicate the disputes between the parties. 5. Complainant’s evidence was closed. Petitioner filed two affidavits as evidence – RW-1 by affidavit dated 14.12.2024 and RW- 2 by affidavit dated 12.01.2025. RW-1 is the Senior Manager of petitioner while RW-2 is the Director of the petitioner. 6. Learned counsel for the claima