SAPNA GUPTA Vs. AJAY KUMAR GUPTA

JUDGEMENT

(1.) The present petition under Sec. 9 of the Arbitration and Conciliation Act, 1996 [hereinafter the 'Act'] seeks interim measures to preserve and protect the rights of the Petitioner in a partnership firm - Metal Cans Company, New Delhi, pending constitution of arbitral tribunal for adjudication of disputes inter se partners of the firm.

(2.) Vide an ex-parte order dtd. 23/8/2021, Respondents have been restrained from alienating or creating third party interest in respect of immovable properties of the partnership firm and have further been directed to maintain status quo in respect of a property that is stated to have been purchased by siphoning off monies of the firm. The said order is currently in force.

(3.) The Respondents, at the outset, raised a preliminary issue regarding maintainability of the present petition on the ground that the clause contained in the partnership deed falls short of the essential requirements contemplated under law to constitute an arbitration agreement. On this issue, Ms. Geeta Luthra, Senior Counsel for the Petitioner and Mr. Pawanjit Singh Bindra, Senior Counsel for the Respondents have been heard extensively.