DLF LIMITED Vs. PNB HOUSING FINANCE LIMITED

JUDGEMENT

(1.) By way of present petitions filed under Sec. 9 of the Arbitration and Conciliation Act, 1996 (hereinafter, referred to as 'the A&C Act'), the petitioners i.e., DLF Ltd. (hereafter, 'DLF') and Chinsha Property Private Limited (hereafter, 'Chinsha'), as shareholders in Joyous Housing Ltd.-

(2.) The grounds raised in the two petitions are common, hence, the same are dealt with through this common order.

(3.) DLF, Chinsha and Respondent No.4 (hereafter, 'Hubtown') are three shareholders in JHL holding its entire shareholding. Amongst them, DLF, Chinsha and Hubtown hold 37.5%, 37.5% and 25% shares of JHL respectively.