PYRAMID MEDITATION CENTRE vs INNOVATIVE PROJECT MANAGEMENT SERVICES PRIVATE LIMITED

Judgment text excerpt

$~38 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 28.04.2026 + ARB.P. 775/2026 & I.A. 11840/2026 (Ex. From filing original/ certified copies of documents) PYRAMID MEDITATION CENTRE .....Petitioner Through: Mr R. Abhishek, Mr. Praveen Kumar and Mr. Sidhi Pramodh Rayudu, Advocates. versus INNOVATIVE PROJECT MANAGEMENT SERVICES PRIVATE LIMITED .....Respondent Through: Mr. Neeraj Gupta, Ms. Tajinder Kaur and Ms. Deepshikha Gupta, Advocates. CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL) HARISH VAIDYANATHAN SHANKAR, J. 1. The present Petition has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 [“Act”], seeking appointment of a Sole Arbitrator for adjudication of disputes inter se the parties arising out of the Fund Raising Agreement 08.04.2024 and Fund Raising Agreement dated 16.04.2024 [“Agreements”]. 2. The material on record reflects that the Agreements stipulate an identical dispute resolution mechanism, which contemplates reference of disputes thereunder, inter se the parties, to Arbitration. The relevant stipulation is contained in Article 6.1 of both the Agreements Signature Not Verified Digitally Signed ARB.P. 775/2026 Page 1 of 8 By:NEERU Signing Date:29.04.2026 15:43:29 [“Arbitration clause”]. The said Arbitration Clause reads as follows:- “ Article 6 DISPUTE RESOLUTION 6.1 Any controversy or dispute in connection with this agreement which cannot be amicably settled by the parties shall be decided by recourse to arbitration by a sole arbitrator, appointed by mutual discussion between The CEO of the First Party and The Chief Functionary of the second Party, which will be governed under the provisions of Arbitration & Conciliation Act, 1996, with the place of Arbitration at New Delhi. In case of a