M/S DELCO INFRASTRUCTURE PROJECTS LTD & ORS. vs INTEC CAPITAL LIMITED & ANR.

Judgment text excerpt

$~13 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 25.03.2025 + FAO (COMM) 150/2024 and CM APPLs. 43731-32/2024 M/S DELCO INFRASTRUCTURE PROJECTS LTD & ORS. .....Appellants Through: Mr Rajshekhar Rao, Sr. Advocate with Mr Divyansh Mishra, Mr Yoshit Jain and Mr Ajay Sabharwal, Advocates. versus INTEC CAPITAL LIMITED & ANR. .....Respondents Through: CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA VIBHU BAKHRU, J. (Oral) 1. The appellants have filed the present application [being CM No.43731/2024], inter alia, praying that the delay of 467 (four hundred and sixty-seven) days in filing the present appeal, be condoned. 2. The appellants have filed the above-captioned appeal impugning an order dated 14.02.2023 [impugned order] whereby the application preferred by the appellants under Section 34 of the Arbitration and Conciliation Act, 1996 [A&C Act] being OMP(COMM) 17/2021 captioned Delco Infrastructure Projects Limited and Ors. v. Intec Capital Limited & Anr. was dismissed for non-prosecution. 3. The appellants had filed the said petition impugning the arbitral award dated 03.11.2020 [impugned award] passed by an Arbitral Tribunal Signature Not Verified Digitally Signed By:TARUN RANA Signing Date:02.04.2025 FAO (COMM) 150/2024 Page 1 of 5 13:28:50 constituted of a Sole Arbitrator. The appellants also impugn an order dated 27.04.2024 whereby the application filed by the appellants seeking condonation of delay in filing petition for setting aside the impugned order (order dated 14.02.2023) was rejected. The learned Commercial Court had found that the appellants had failed to show sufficient cause for condoning the delay in filing the said application. 4. It is appellants’ case that respondent no.1 had also instituted insolvency proceedin