GAURAV AGGARWAL vs RICHA GUPTA

Judgment text excerpt

$~36 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of decision: 15th October, 2025 + O.M.P. 1/2025 & I.A. 4139/2025 GAURAV AGGARWAL .....Petitioner Through: Mr. Avnish Pandey, Advocate versus RICHA GUPTA .....Respondent Through: Mr. Viraj R. Datar, Senior Advocate with Mr. Chetan Lokur and Mr. Srikant Singh, Advocates CORAM: HON'BLE MR. JUSTICE AMIT BANSAL AMIT BANSAL, J. (Oral) 1. The present petition has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter ‘Act’) challenging the Arbitral Award dated 10th January, 2025 (hereinafter ‘impugned award’) passed by the Sole Arbitrator. 2. Vide the impugned award, the application filed by the respondent under Section 32(2)(c) of the Act seeking termination of the arbitral proceedings was allowed and the arbitral proceedings were terminated. 3. Brief facts, as stated in the present petition, which are necessary for deciding the present petition are set out below: a. Sub-lease dated 11th July, 2021 was executed by Jaypee Infratech Limited (hereinafter ‘JIL’) in favour of the respondent in respect of flat bearing unit no. KLP0152004 in Kalypso Court-15 at Jaypee Greens, Noida, Uttar Pradesh along with one car parking space Signature Not Verified Digitally Signed By:AARZOO O.M.P. 1/2025 Page 1 of 8 Signing Date:17.10.2025 19:37:47 (hereinafter ‘subject property’) and the respondent became the owner of the sub-leasehold rights in the subject property. b. The respondent approached the petitioner to transfer her sub-leasehold interest in the subject property. c. The petitioner entered into an Agreement to Sell (hereinafter ‘ATS’) with the respondent on 5th January, 2024 for transfer of the respondent’s sub-leasehold interest in the subject property for an agreed consideration of Rs. 5 crores. Out