SNG DEVELOPERS LIMITED vs LORD VARDHMAN BUILDTECH PRIVATE LIMITED

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 13.01.2026 Judgment pronounced on: 11.02.2026 + O.M.P. (COMM) 348/2024 & I.A. 36326/2024 (Stay) SNG DEVELOPERS LIMITED .....Petitioner Through: Mr. Dharmesh Misra, Senior Advocate with Mr. Prateek Gupta and Ms. Vishakha Kaushik, Advs. versus LORD VARDHMAN BUILDTECH PRIVATE LIMITED .....Respondent Through: Mr. Sanjeev Kr. Dubey, Senior Advocate with Mr. Amit Bhatia, Advocate + OMP (ENF.) (COMM.) 223/2024, EX.APPL.(OS) 1644/2024 (U/O 21 Rule 41 (2), EX.APPL.(OS) 1150/2025 (U/O 21 Rule 41 (3) & EX.APPL.(OS) 1582/2025 (Delay of 4 days in filing the appeal) LORD VARDHMAN BUILDTECH PRIVATE LIMIED .....Decree Holder Through: Mr. Sanjeev Kr. Dubey, Senior Advocate with Mr. Amit Bhatia, Advocate versus SNG DEVELOPERS LIMITED .....Judgement Debtor Through: Mr. Dharmesh Misra, Senior Advocate with Mr. Prateek Gupta and Ms. Vishakha Kaushik, Advs. Signature Not Verified O.M.P. (COMM) 348/2024 & connected matter Page 1 of 33 Digitally Signed By:HARVINDER KAUR BHATIA Signing Date:13.02.2026 17:11:19 CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR JUDGMENT HARISH VAIDYANATHAN SHANKAR, J. 1. The Objection Petition, being O.M.P.(COMM) 348/2024, has been filed under Section 34 of the Arbitration and Conciliation Act, 19961, assailing the Arbitral Award dated 22.04.20242 passed by the learned Sole Arbitrator in the arbitration proceedings titled „Lord Vardhman Buildtech Private Limited v. SNG Developers Limited‟, whereby the Claimant/Respondent was awarded a sum of Rs. 7.50 Crores towards refund, along with pendente lite and future interest at the rate of 10% per annum till the date of actual payment. 2. The Enforcement Petition, being OMP(ENF.)(COMM.) 223/2024, has been filed by the Claimant/Decree Holder under S