PARSVNATH DEVELOPERS LTD. vs DELHI METRO RAIL CORPORATION LIMITED & ANR.

Judgment text excerpt

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 01.08.2025 Judgment pronounced on: 11.11.2025 + O.M.P. (COMM) 344/2017& I.A. 10522/2017, I.A. 7982/2025 PARSVNATH DEVELOPERS LTD. .....Petitioner Through: Mr. Rajat Joneja and Ms. Himanshi Madan, Advs. versus DELHI METRO RAIL CORPORATION LIMITED & ANR. .....Respondents Through: Dr. Hemant Gupta, Adv. CORAM: HON'BLE MR. JUSTICE JASMEET SINGH JUDGMENT 1. The present petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“1996 Act”) seeking to challenge the Arbitral Award dated 07.06.2017 (“Award”) passed in Arbitration proceedings titled as “Parsvnath Developers Limited. v. Delhi Metro Rail Corporation” wherein the Arbitral Tribunal (“Tribunal”) disallowed the claims of the petitioner and allowed the counter claims of the Delhi Metro Rail Corporation (“respondent”) to the tune of 70,27,684.69/- (55,01,109/- + 15,26,575.69/-). The respondent was further granted interest on 55,01,109/- from 01.02.2012 and further till realization at 6 percent per annum. Digitally Signed O.M.P. (COMM) 344/2017 Page 1 of 26 By:MAYANK Signing Date:11.11.2025 16:04:24 FACTUAL BACKGROUND 2. The petitioner, (Claimant in the Arbitral Proceedings) is a company incorporated under provisions of Companies Act, 1956 and is engaged in the business of development of land and construction of commercial and residential projects in India. 3. The respondent (respondent in the arbitration proceedings) is a company incorporated under Companies Act, 1956 established for planning, designing, developing, constructing, maintaining, operating and financing transport in the National Capital Territory of Delhi and other areas of National Capital Region. 4. The respondent invited bids for development of Station Box situated