IDFC FOUNDATION vs BHARAT TELEMATICS PRIVATE LIMITED

Judgment text excerpt

$~44 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of Decision: 17.03.2026 + O.M.P.(I) (COMM.) 100/2026 IDFC FOUNDATION .....Petitioner Through: Mr. Angad Kochhar and Mr. Aditya Sarin, Advocates. versus BHARAT TELEMATICS PRIVATE LIMITED .....Respondent Through: Mr. Rakesh Kumar, Ms. Preeti Kashyap, Mr. Ankit Sharma, Mr. Sahil Chawla and Mr. Pulkit Mehrotra, Advocates. CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % JUDGEMENT (ORAL) HARISH VAIDYANATHAN SHANKAR, J. 1. The present Petition has been filed under Section 9 of the Arbitration and Conciliation Act, 19961 seeking the following reliefs: “a· pass an ad-interim order restraining the Respondent, its directors, officers, representatives, agents and/or any person acting on its behalf, from creating or purporting to create any third party right, title, interest, or encumbrance in respect of 73,045 equity shares, constituting 50% of the issued, subscribed and paid-up share capital of Delhi Integrated Multi-Modal Transit System Limited (DIMTS), of which the Petitioner is the legal and beneficial owner; and 1 Act Signature Not Verified Digitally Signed By:HARVINDER KAUR O.M.P.1I) (COMM.) 100/20261 Page 1 of 4 BHATIA Signing Date:20.03.2026 15:04:15 b. pass such other or further orders as this Hon'ble Court may deem fit and proper.” 2. The present disputes are stated to have arisen out of a Share Purchase Agreement dated 01.06.20232, which contains a dispute resolution clause, being clause 8 of the Agreement. The relevant portion of the said clause, being clauses 8.4 and 8.5, are reproduced herein under for ready reference: “8.4 The Arbitration shall be undertaken by an Arbitral Tribunal of three Arbitrators whereby the disputing party shall have the right to nominate one Arbitrator, the respondent party shall ha