DEEPAK KUMAR & ANR. vs MOHIT JAIN

$-4 * IN THE HIGH COURT OF DELHI AT NEW DELHI ARB.P. 104/2025 Date of Decision: 15.05.2025 IN THE MATTER OF: 1. MR. DEEPAK KUMAR S/O MR. MOHAR SINGH YADAV R/O 482/21, STREET NO. 10, OM NAGAR, GURUGRAM HARYANA-122001 2. MRS. REKHA RANI YADAV W/O MR. DEEPAK KUMAR R/O 482/2, STREET NO.10, OM NAGAR, GURUGRAM HARYANA-122001 ..... PETITIONERS Through: Mr.Akshya, Advocate. Versus 1. MOHIT JAIN S/O MR. VINAY JAIN R/O L4/27, DLF PHASE-II, JAIN MANDIR WALI GALI, GURUGRAM, HARYANA-122002 .... RESPONDENT Through: Ms.Niharika Rai, Advocate for R-1. Mr.Sandeep Phogat and Mr.Ravi, Advocates for R-2. HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV JUDGEMENT PURUSHAINDRA KUMAR KAURAV, J. (ORAL) 1. The present petition has been filed under Section 11 of the Arbitration 2. The facts of the case would indicate that on 18.06.2022, the petitioners were allotted the Commercial Unit bearing no. GB-53 in “68 Avenue” in Sector-68, Gurugram which was being developed by VSR Infratech Pvt Ltd.. Thereafter, the petitioners entered into a Memorandum of Understanding (MoU) cum Agreement dated 22.04.2023 with the respondent for investing in the property bearing No.F-02, BPTP, Astaire Gardens, Sector 70 & 70A, which