HIND TRADEX LIMITED vs VEEKKAS HAANDAA & ORS.

Judgment text excerpt

$~50 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 05.05.2025 + O.M.P.(I) (COMM.) 152/2025 HIND TRADEX LIMITED .....Petitioner Through: Mr. Mohit Chaudhary and Mr. Kunal Sachdeva, Advs. versus VEEKKAS HAANDAA & ORS. .....Respondents Through: Mr. Amit Saxena, Adv. for R-1, 2, 3 and R-4 % CORAM: HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA JUDGMENT MANMEET PRITAM SINGH ARORA, J (ORAL): O.M.P.(I) (COMM.) 152/2025 1. The present petition has been filed under Section 9 of the Arbitration and Conciliation Act, 1996 [‘Act of 1996’] against the Respondents in terms of Clause 6 & 8 of Development Agreement dated 07.12.2022 invoking the arbitration agreement recorded at Clause 17 of the Development Agreement dated 07.12.2022. The Petitioner, Respondent Nos. 2, 3 and 4 are signatories to the said Development Agreement dated 07.12.2022. 2. The clause 17 of the Development Agreement dated 07.12.2022 read as under: - Signature Not Verified Signed By:HEMANT PRATAP SINGH O.M.P.(I) (COMM.) 152/2025 Page 1 of 4 “17. GOVERNING LAW AND DISPUTE RESOLUTION “17.1. The Agreement shall be governed by, and cons sued in accordance with, laws of India and subject to sub-clause below, only the Courts at New Delhi shall have exclusive jurisdiction on all the matters and disputes pertaining to this Agreement as a court under 2(1)e of the Indian Arbitration & Conciliation Act, 2016 (as amended). 17.2. In the event of any dispute(s) or difference(s) and /or claim(s) between the Parties arising out of this Agreement or in relation thereto, during the subsistence of this Agreement or thereafter, in connection with the validity, interpretation, implementation or alleged breach of any provision(s) of this Agreement, the Parties shall endeavour to settle such dispute(s) amicably. In the even