SIDDHARTH SOOD vs MUNISH KUMAR AGGARWAL

Judgment text excerpt

$~58 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 17th March, 2025 + CM(M) 499/2025 & CM APPL. 15427-15429/2025 SIDDHARTH SOOD .....Petitioner Through: Mr. Samrat Nigam, Senior Advocate with Mr. Rishi Sood and Ms. Arpita Rawat, Advocates. versus MUNISH KUMAR AGGARWAL .....Respondent Through: None. CORAM: HON'BLE MR. JUSTICE MANOJ JAIN J U D G M E N T (oral) 1. Petitioner Mr. Siddharth Sood had filed an application under Order XXI Rule 58 read with section 151 CPC in Execution Petition i.e. EX. (COMM) 340/2023 and is aggrieved by dismissal of his such application on 05.03.2025. 2. I have heard learned Senior Counsel at length. 3. Admittedly, Mr. Munish Kumar Aggarwal (respondent herein) had lodged a claim against the parents of the Objector (petitioner herein). 4. Learned Sole Arbitrator had been appointed in terms of order dated 04.06.2022 passed by this Court on the basis of application moved under Section 11 of Arbitration and Conciliation Act, 1996. 5. The Award was passed by learned Sole Arbitrator on 16.01.2023 whereby the claimant was held entitled to sum of Rs. 34,71,125 /- (principal Signature Not Verified Digitally Signed CM(M) 499/2025 1 By:SONIA THAPLIYAL Signing Date:18.03.2025 19:13:30 amount) along with interest. 6. Pursuant to such Award, the above Execution Petition was filed and during its pendency, Mr. Siddharth Sood, son of the judgment debtors had filed the above said application, praying therein that the property bearing No. H-39 A & B, Kirti Nagar, New Delhi-110015 be released from the attachment. 7. It is contended that the above said property was lying mortgaged with the South Indian Bank and was attached by invoking provision of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002