ASCEND CAPITAL SERVICES PVT. LTD. & ORS. vs LAXMI FOILS PVT. LTD.

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 22.01.2026 Judgment pronounced on: 17.02.2026 ARB.P. 1126/2025, I.A. 18454/2025 (Delay of 31 days in Re- filing of the petition) & I.A. 1797/2026 (Delay of 2 days in filing the rejoinder) ASCEND CAPITAL SERVICES PVT. LTD. & ORS. .....Petitioners Through: Mr. Jayant Mehta, Senior Advocate with Mr. Ashish Verma, Mr. Saksham Thareja, Mr. Akhil Ranganathan and Mr. Pallav Arora, Advocates. versus LAXMI FOILS PVT. LTD. .....Respondent Through: Ms. Malvika Trivedi, Senior Advocate along with Mr. Sanyam Khetarpal and Ms. Lisa Sankrit, Advocates. CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGMENT HARISH VAIDYANATHAN SHANKAR, J. 1. The present Petition, under Section 11(6) of the Arbitration 20222. 2. As stated in the Petition, in or around March 2022, the Respondent Company was engaged in the business of manufacturing and trading aluminium hot rolled products, aluminium cold rolled products and aluminium sheets, foils, etc. It is further stated in the Petition that the Petitioners had, from time to time, granted credit facilities/unsecured loans for the purpose of the Respondent Company‟s capital expenditure a